Former Holsum bakery building for sale in downtown Las Vegas

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When developer Jeff LaPour bought the gated Holsum Bakery in downtown Las Vegas, it still had a commercial oven, which he recalled was probably the size of two semi-trailers.

Workers had to cut it up with torches and tear it into pieces.

Almost two decades later, the former bread building is home to architectural offices, a modeling agency, a photo studio that offers the “perfect immersive experience for your selfies,” and a marijuana testing company.

And now LaPour wants to sell.

Stockbroker Colliers International announced Monday that Holsum Lofts, 241 W. Charleston Blvd., east of Interstate 15, is on the market.

No asking price was given.

The 46,831 square meter complex is 67 percent occupied, said Colliers.

The main vacancy at 12,890 square feet was previously home to NS8, a cyber fraud prevention firm that filed for bankruptcy last year after its former CEO was arrested and charged with securities fraud.

LaPour said an offer was received for Holsum Lofts on Monday and that he expects several more in the next week or so.

A sale would mark the culmination of LaPour’s nearly 20-year career with the property, including the property crash about a decade ago, and a wave of new businesses moving into the nearby Arts District.

When asked why he chose to sell, LaPour, founder of LaPour Partners, referred to his longstanding ownership of Holsum Lofts and noted that he has shifted his focus to larger projects.

For example, he is developing an approximately 100,000 square meter office building in the south-west of the valley with G2 Capital Development and at the beginning of this year announced the groundbreaking for an almost 340,000 square meter industrial complex in Henderson.

He also said that Holsum Lofts is a relatively large downtown building with a unique architecture.

The building is perhaps best known to passers-by for its multi-colored Holsum bread sign that proclaims “Hours fresher” and contains a massive clock.

LaPour acquired the 1950s building in 2003 and reportedly envisioned a mixed-use facility with art galleries, offices, retail space, and lofts for residential work. He eventually scrapped the residential plans.

He hinted on Tuesday that the history, design and location along a busy street near a motorway junction attracted him to the closed bakery.

Like countless other properties in southern Nevada, Holsum Lofts faced a volatile period after the housing bubble burst in the mid-2000s and the general economy weakened.

LaPour said he could not refinance the property’s mortgage because financial markets collapsed and the lender sold the debt to investors trying to foreclose the complex.

In the summer of 2012, he filed for Chapter 11 bankruptcy protection for the property, according to court records.

LaPour said the move was meant to prevent foreclosure and give him time to refinance, which he ultimately did.

Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.