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6/29/15
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Partners Capital Acquisitions LLC and its affiliates aquired Gramercy Commons, a 27.3k sf retail center in the Spring Valley community of Las Vegas, in an off-market transaction.
Fomerly known as Stetson Ranch Shopping Center, Gramercy Commons is a value-add retail center located at the intersection of South Fort Apache Rd and Russell Rd, one block north of the Southern Hills Hospital and Medical Center. Shadow-anchored by Nevada State Bank and CVS Pharmacy, the center is located near several major development sites including The Gramercy (a 400k sf, mixed-use residential, office and retail project), as well as several ground up single family construction projects by Toll Brothers, Pardee Homes, Century Homes, Richmond American and The Hughes Corporation.
The Partners Capital team behind the transaction was led by President and Principal Bobby Khorshidi and Vice President of Acquisitions Mark Blumenthal.
“Gramercy Commons is a key addition to our retail portfolio and expands our presence in the Las Vegas market,” said Blumenthal. “It has major value-add potential and is located in a booming development area that is due for significant growth in the short-term.”
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