Credit One Bank breaks ground on new facility

A national credit card company is expanding its presence in Southern Nevada.

Credit One Bank, which offers several credit cards to consumers across the United States, is planning to break ground on its new four-story, 152,000-square-foot corporate headquarters in Las Vegas in December. The new building will sit just south of Interstate 215, between Durango and Buffalo drives.

John Coombe, Credit One Bank’s senior vice president of communications, said the company has outgrown its current facility at 585 Pilot Road, which sits south of McCarran International Airport and currently houses the organization’s 500 employees.

Credit One plans to be in the new facility by the end of 2017, Coombe said.

Credit One came to Nevada in the late 1990s from its old headquarters in San Rafael, California. The company started in 1984. Coombe said the company’s leadership thought Nevada was a good spot with a rapidly growing area and the banking regulations at that time were very favorable.

A lot has changed since the organization landed in Las Vegas. At that time, the company was servicing between 1 million and 2 million customers, Coombe said.

Today, the company has more than 7 million credit card-holders.

Coombe said the 26-acre site in the southwest was especially desirable.

“I think it gets down to two factors,” he said.

One of those was the technical benefits of the region. The other had to do with the company’s employee base. Coombe said when they mapped out where most of the employee base lived, the Southwest was the most convenient region.

The new facility will house up to 1,000 new technical, analytical and marketing positions to support the bank’s credit card business.

But the company also has a lot of room for growth. Coombe said there is room for three more buildings at the site.

“That space can accommodate up to four buildings, and we’re really just building a single building today,” Coombe said. “It houses 1,000 employees today. Should the needs of the organization grow beyond that, we certainly have the capacity to grow there on that expanded campus.”

Credit One’s land purchase closed on May 20. The group paid $20.8 million, property records show.

The developer on the new building is Grand Canyon Development Partners and the contractor is Burke Construction Group Inc. Gensler is the architect.

The new building could bring a lot to the office market numbers that showed no new completions in the Las Vegas area in the third quarter, according to a third-quarter report from Colliers International Las Vegas. There was, however, 203,000 square feet of office space under construction during that period — 90 percent of it was speculative. During the same period last year, more than 46,000 square feet of office space was completed.

In total, there is planned and under construction about 479,000 square feet of office space in Las Vegas in the pipeline.

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