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January 24, 2019
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Grocery-Anchored Center in Vegas Trades for $15 Mil


Tropicana Marketplace, a 69.4k sf, Smith’s-anchored shopping center in Las Vegas, has sold for $15 mil ($216/sf). The property, located at 6120-6180 W. Tropicana Ave, was sold by Houston-based Weingarten Realty.

Anchored by Smith’s Food & Drug, Tropicana Marketplace is sits on 6.77 acres. Built in 1989, the property is currently 86.2% leased to a diverse tenant roster including Family Dollar, Chase Bank, Pacific Dental, Supercuts and Pearle Vision.

Ideally located, Tropicana Marketplace is situated on the northwest corner of Tropicana Ave and Jones Blvd. Tropicana Avenue is a major east-west section line arterial in the Las Vegas Area, and part of the Nevada State Route 593, which offers superior access and visibility to a desirable demographic.

Michael Hackett and Ryan Schubert of Cushman & Wakefield Phoenix represented the seller. This is the second sale the team has completed on behalf of Weingarten Realty in the last two months. John Weisler of JW Michaels Realty Services represented the buyer, Tropicana Square LLC.

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