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5/09/12
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PASSCO Companies LLC has obtained a $25.8 mil refi loan on Silver City Plaza, a 41.6k sf neighborhood shopping center in Las Vegas. The new loan was arranged through Jonathan Schurgin and Jeff Giudice with Cantor Commercial Real Estate, an affiliate of Cantor Fitzgerald. Alan Clifton, Vice President Strategic Investments, represented Passco in the transaction.
The center, which is situated on 1.92 acres at 3001 South Las Vegas Blvd, is located at the intersection of Las Vegas Blvd and Convention Center Dr on the northern end of the “Las Vegas Strip.” It is situated less than one block from the new $2.4 bil Wynn Las Vegas and Encore Resort and less than a mile from the Fashion Show Mall and Las Vegas Convention Center.
Silver City Plaza is anchored by Ross Dress for Less and Walgreens. Other tenants include Denny’s, 7-Eleven, Paramount Marketing Consultants Inc and the Crazy Ely gift shop.
PASSCO is committed to Las Vegas and Clark County, the fastest growing region in the nation and an area that has seen its population double every 10 years. The company is involved with an industrial business park in North Las Vegas, which is located in close proximity to the I-15. The project is situated on a 20-acre site and includes 19 buildings totaling 270k sf. Passco also owns the 45k sf Eastwind Center, a neighborhood shopping center located in the unincorporated area of Clark County known as Paradise. The center is anchored by Smith’s grocery store, Walgreen’s, Jack in the Box and KFC restaurants.
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