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RETAIL NEWS
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Vegas Area Retail Center Trades for $2.9 Mil

10/02/15

In a recent retail acquisition from Las Vegas, an investor purchased Coffee Bean & Tea Leaf Drive Thru and Shops, an 11.8k sf, multi-tenant shopping center, for $2.85 mil ($242/sf) in an all-cash deal. The property is located at 6115 South Rainbow Blvd, north of I-215 and west of Las Vegas Blvd and I-15, at a signalized corner.

Built in 2006 and renovated in 2013, the property is fully occupied by well established businesses including national credit tenant Coffee Bean & Tea Leaf, which is currently under a NNN lease with six years remaining. The shopping center is situated in an affluent and rapidly growing area of Las Vegas.

Pablo Rodriguez, senior associate at Marcus & Millichap’s Ontario, California office, represented the buyer and the seller, both partnerships, in the transaction.





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