Retail Center for Sale in Las Vegas

Thursday, May 25, 2017

Holliday Fenoglio Fowler, L.P., (HFF) is exclusively marketing for sale Best in the West, a 465,000-square-foot, market-leading retail property immediately adjacent to the affluent submarket of Summerlin in Las Vegas, Nevada. The dominant retail center for sale is 99 percent occupied and anchored by a diverse group of leading national retail tenants, offering consumers a complete shopping experience that caters to the strong demographics surrounding the property. 

Best in the West is situated on 34.8 acres at 2000-2192 North Rainbow Boulevard near the master-planned community of Summerlin, which is on the western rim of the Las Vegas Valley adjacent to the internationally-renowned Red Rock Canyon National Conservation Area. Summerlin is among the most affluent communities in Nevada and has emerged as one of the most sought after addresses in the state. Ideally located with tremendous freeway exposure along Interstate 95, the commercial property for sale features a dedicated on/off ramp and towering video monument signage. Additionally, Best in the West is strategically located at the submarket’s premier retail intersection of Rainbow and Lake Mead Boulevards with strong freeway visibility, exposing the property to more than 147,000 vehicles per day on Interstate 95.

Best in the West offers investors the opportunity to acquire a best-in-class, dominant retail center with long-term income stability from diverse national credit tenants and additional upside through contractual rental increases and other opportunities.

Retail Property for Sale Investment Highlights

  • Premier National Tenant Lineup with Exceptional Tenant Retention:  Best in the West features a “who’s who” lineup of today’s most popular national retailers, including Ulta Beauty, Bed Bath & Beyond, Marshalls, Old Navy, Best Buy, Designer Shoe Warehouse, PetSmart, T.J. Maxx, Jo-Ann Fabric and Craft, Stein Mart and Babies"R"Us. Sixteen tenants, totaling over 70 percent of the GLA, have been in occupancy at the center for 15 years or longer. This extraordinary tenant longevity demonstrates the desirability of this location for retailers and provides long-term income stability for potential investors.
  • Stable Cash Flow with Additional Upside:  Fully occupied, the retail property for sale provides stable, low risk cash flow with more than 94 percent of the GLA occupied by national tenants with numerous value-add opportunities, including increased signage income and second-floor office space.
  • High Profile Location with Phenomenal Access and Visibility:  The retail center is located directly along the I-95 freeway (147,000 vehicles per day) and benefits from immediate access to a dedicated on/off ramp. Additionally, the property is strategically positioned at the northeast corner of the intersection of Rainbow and Lake Mead Boulevard, one of the main intersections in the area, boasting more than 59,000 cars per day. Best in the West has eight points of ingress and egress, providing tremendous convenient access to area shoppers. The close proximity to the freeway and location at a major intersection provide immense curb appeal for the center. The property has a towering pylon sign topped by a 27-foot tall video sign with great freeway and area visibility.
  • Dense and Affluent Demographics:  Within a three-mile radius of the retail property, there are approximately 180,000 residents with an average household income in excess of $57,000. The center is located immediately adjacent to the residential area of Summerlin, one of the most affluent and desirable neighborhoods in the greater Las Vegas area.

An irreplaceable trophy asset, Best in the West presents an exceptionally rare opportunity to acquire a dominant regional center anchored by top-notch national retailers, with many delivering leading regional sales. For more information on Best in the West or other retail properties for sale, please contact Bryan Ley or Jules Sherwood. Click here for our real estate investment sales search page. 

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