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December 5, 2019
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Cannon Commerical Closes on 214k sf Vegas Retail Buy

12/02/19

Cannon Commercial, based in Southern California, has acquired the majority of Westland Fair, a shopping center in West Las Vegas, NV. The purchase, Cannon’s second acquisition in the Las Vegas market in the past 24 months, consists of seven parcels totaling 214.1k sf of retail space.

Westland Fair is anchored by regional and national tenants: Smart & Final Extra!, Michaels and PetSmart, which have called the center home for more than 25 years. Other tenants include Raising Cane’s, Freddy’s Frozen Custard, Applebee’s, Panda Express, Jamba Juice, Office Depot and more. While not part of the offering, Westland Fair is also anchored by Walmart and Lowe’s Home Improvement; both shadow anchors substantially expand the trade area for Westland Fair outside of the typical 1-3 miles experienced by most grocery-anchored centers.

Located at 1251 South Decatur Blvd, Westland Fair is in one of the busiest intersections in Las Vegas — West Charleston Blvd and South Decatur Blvd, which, together, boast more than 82,000 vehicles per day. The property is northwest of the Strip, and south of Hwy 95.

NKF’s Rob Ippolito and Michael Zobrist represented the seller, Houston-headquartered Weingarten Realty Investors. The price was not disclosed.

The Las Vegas metropolitan area, known as the “Entertainment Capital of the World” hosted over 42.1 million visitors in 2018, a record high in tourism. The city’s tourism and gaming industry helps support the local workforce of over one million. In recent years, companies such as Zappos, Switch, and the Amazon distribution hub in North Las Vegas continue to drive the diversification of Las Vegas’ future as a major technological and industrial hub on the west coast. Las Vegas continues to be a desirable place for residents due to its high quality of life, lower housing costs, and favorable tax benefits.





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