Grubb & Ellis/Las Vegas negotiated the purchase of a 68,464-square-foot office building in Las Vegas, Nev.

The transaction was valued at $9.1 million.

The Phoenix Building is an 11-story, class B building located at 330 South Third St. in the heart of downtown.

Equastone 330 Vegas LLC of La Jolla, Calif., acquired the property from Buffalo Nickel Limited Partnership. Equastone plans to upgrade and renovate the interior and exterior of the building, including the entrance, lobby, corridors and elevators.

Grubb & Ellis Co. is a full-service commercial real estate organization operating worldwide.

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