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1/31/24
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A Los Angeles-based private investor paid $9.5 mil for Deer Springs Shoppes, a 28.2k sf ($337/sf) retail center in North Las Vegas. The three-building property, located at 640 and 680 E. Deer Springs, and 675 Dorrell Lane, is 100% occupied and includes a vacant pad site which is proposed for a 4k sf development.
Built in 2009, the property is situated on 5.16 acres and includes a diverse lineup of tenant such as UPS, Verizon and Pacific Dental. The asset is an outparcel to a power center which includes Target, Home Depot, Ross Dress for Less, PetSmart, and Staples, among others. There are more than 254,000 residents and 49,000 employees within a five-mile radius of the property.
Patrick Luther with SRS Real Estate Partners represented the Pennsylvania-based seller. According to Luther, the property generated a number of offers and was sold to an all-cash buyer.
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