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8/04/16
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A six-property retail portfolio in Henderson, NV was purchased by Beverly Hills-based 3D Investments LLC for $16.2 mil. The properties, known as the Eastern Marketplace Portfolio, were sold by Las Vegas-based Eastern Marketplace Pads LLC.
The Eastern Marketplace Portfolio was comprised of six pads within the Eastern Marketplace shopping center, located at the southwest corner of Eastern Ave and St. Rose Pkwy in Henderson. The pads included five freestanding properties: Tide Dry Cleaners; Chili’s; Wells Fargo; McDonald’s; Carrabba’s and Rebel Oil.
Alex Kozakov, Patrick Wade and Matt Bear of CBRE negotiated the transaction.
“The sale represents continued demand for credit tenant, net-leased assets,” noted Kozakov. “Southern California trade buyers continue to aggressively pursue out-of-state assets paying a premium for “best-in-class” product, which was illustrated with this sale.”
The property benefits from strong area demographics, including an average household income of more than $78,000 within one mile of the property, and high traffic counts on Eastern Avenue and St. Rose Parkway, which see 48,000 and 34,000 vehicles per day each, respectively. Additionally, Dignity Health’s St. Rose Dominican Hospital, which employees 4,000 people, is located directly across the street.
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