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December 6, 2021
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Walmart-Anchored Retail Center in Vegas Trades for $42.5 Mil

11/19/21

Rainbow Springs Shopping Center, a 364.2k sf, Walmart-anchored retail center in Las Vegas, sold for $42.5 mil ($117/sf). The property traded between private investors.

Besides Walmart, Rainbow Springs Shopping Center is also home to a diverse national and regional tenant mix, including Petco, Dollar Tree, Applebee’s, Krispy Kreme, Dotty’s, Wing Stop, Sally Beauty Supply, IHOP and Payless. The center was originally constructed between 1991 and 1993 and has retained the majority of its original tenants.

Rainbow Springs Shopping Center is situated on 38.21 acres at 3501, 3595 and 3615 South Rainbow Blvd and 7017 Spring Mountain Rd, at the highly visible intersection of Rainbow Blvd and Spring Mountain Rd, which has a daily traffic count of approximately 68,000 vehicles a day. The center serves a trade area in Las Vegas that includes 197,855 residents earning an average annual household income of $63,228 that live within a three-mile radius of the property.

Gleb Lvovich and Daniel Tyner with JLL Retail Capital Markets represented the buyer in the deal.





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