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Warm Springs Plaza Comes to Market

LAS VEGAS-Owner Toibb Enterprises is looking to sell the 76,000-sf center for just more than $20 million after landing a grocery anchor new to the US retail community.

By Brian K. Miller | Updated on September 16, 2007

LAS VEGAS-Toibb Enterprises is looking to sell Warm Springs Plaza, a 76,000-sf, soon-to-be grocery-anchored retail center here for more than $20 million. The Woodland Hills, CA, based investor has retained Hanley Investment Group Real Estate Advisors of Irvine, CA as the listing agent.

Hanley principal Ed Hanley tells GlobeSt.com the center is generating a lot of interest in part because of its new grocery anchor, Fresh & Easy Neighborhood Market, a new US chain by UK-based Tesco that is preparing to open its first stores. Britain’s largest retailer will be investing $400 million per year to expand the concept throughout the US over the next five years. Fresh & Easy will open at the Warm Springs Plaza in October, making it the first Tesco-anchored retail center to come to market.

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