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9/25/15
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Sunmark Plaza, a 232k sf, best-in-class power center in Henderson, NV, has been listed for sale. Built in 2001, Sunmark Plaza is located at 611 Marks St, at the northwest corner of Marks and Sunset Rd.
Sunmark Plaza features an impressive tenant roster that combines destination, value, and daily needs including such brands as Bed Bath & Beyond, Sports Authority, Petco, Best Buy, Starbucks, Panda Express, and Orangetheory Fitness as well as an impressive roster of nationally recognized restaurants and services. The center is shadow-anchored by one of the Las Vegas’ most successful Costco warehouses and is adjacent to General Growth Properties’ recently remodeled, 1.1 msf Sunset Galleria regional mall.
Cushman & Wakefield brokers Pete Bethea, Glenn Rudy and Rob Ippolito are handling the transaction on behalf of the center’s current owner. The property will be delivered free of existing debt, allowing prospective investors to take advantage of historically low interest rates. Offers are due by Wednesday, October 8, 2015. An asking price was not given out.
“An impressive list of tenants amongst an impressive village of centers speaks to the strength, desirability, and durability of Sunmark Plaza,” noted Rudy, Director, Capital Markets at Cushman & Wakefield. “The benefit of adding value through a very real lease up strategy may be secondary to the historic stability and performance of Sunmark Plaza.”
Henderson has the most concentrated retail submarket in Nevada and boasts an average household income of $72,000 per year. More than 120,000 people live within three miles of the center with an additional 1,000 residential units currently under construction. The center is strategically positioned to offer maximum freeway visibility along I-95, the major corridor connecting Henderson to the Las Vegas Strip that is utilized by an estimated 150,000 vehicles per day.
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