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March 29, 2024
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RETAIL NEWS
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OC Buyer Pays $15.75 Mil for Vegas Retail Center

3/12/18

Paradise Marketplace, a 78k sf, Smith’s-anchored shopping center located on the northeast corner of Flamingo Rd and Sandhill Rd in Las Vegas, sold for $15.75 mil ($202/sf). Investment Concepts Inc, out of the city of Orange, CA purchased the property from Houston-based Weingarten Realty.

Anchored by Smith’s Food & Drug, Paradise Marketplace sits on a 6.49-acre site. Currently 91.5% leased to an internet-resistant tenant roster of national, regional and local retailers, the shopping center offers groceries, a fuel station, fitness, discount retail, gaming, cleaners, dental and hair and nail salons.

Ideally located, Paradise Marketplace is situated less than one-half mile from the I-515/SR 592 (Flamingo Road) Interchange. The property also offers excellent visibility and access, along with strong traffic counts and is situated in a densely-populated area in the Las Vegas market.

Michael Hackett and Ryan Schubert of Cushman & Wakefield Phoenix represented the seller. Al Twainy of Colliers International repped the buyer in the transaction.





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