144,330-SF Center Placed on Court-Ordered Auction Block

LAS VEGAS-A retail center here is being sold at a court-ordered auction at the end of the month. Located at the I-15 and US 95 Interchange, Levitz Plaza is a 144,330-sf retail center which includes a 102,395-sf retail/showroom and warehouse building occupied and leased long-term by Levitz Home Furnishings, Inc., a fully leased 37,260-sf strip center, a fully leased 4,765-sf pad building, three leased billboard sites and two cellular towers.

Tom Hunter of Sperry Van Ness/Interstate Auction Co., the company handling the sale, tells GlobeSt.com that the seller, Levitz Plaza LLC, is selling the property because the loan for the property is tied up with a loan for another property that forced the bankruptcy filing. The proceeds will be used to pay off ctreditors. According to the Nevada Secretary of State’s office, Levitz Plaza LLC is owned by Saxton Inc. of Las Vegas, which is in part controlled by James Saxton.