“Faris Lee has a proven track record for strategically tapping into both institutional and private buyer pools that have the sophistication and capital resources required for acquiring and owning a high-profile retail center such as the District,” says Bill Ohlsen, senior vice president of LNR Partners. “The District is a rare opportunity to own a high-grade, trophy asset in the Las Vegas market with a great deal of upside potential. We are confident that Faris Lee will proactively manage the sales process and target the various investor pools that would be a good match for the center, the local community, and our disposition requirements.”

The District at Green Valley Ranch is truly a retail landmark located in one of the premier master planned communities in Nevada offering an opportunity rarely seen to acquire an asset of this quality, says Faris Lee’s MacLellan. “We anticipate this to be one of the finest retail investment offerings on the market today in the Western US. We plan to take a unique approach by marketing the District to a private and institutional buyer pool that consists of both domestic and foreign investors. We also believe that high net worth investors from around the world who travel to Las Vegas will take a look at the opportunity own the highest quality retail asset in the market.”

MacLellan adds that even before the property was officially on the market, Faris Lee had received a considerable amount of investor interest from around the world from a variety of investors. The firm also plans to leverage its local Las Vegas office contacts to market the property to the wide variety of institutions and high net worth entities that are familiar with the Las Vegas market.

According to Walter, the District is indicative of the complexity of today’s investment market. “Our team spends time at the property level to best understand the operational aspects that can be modified to add value. We combine that with a creative transactional approach that is designed to deliver a diverse buyer pool, in many ways we target our buyer as opposed to simply pushing information out to the marketplace. Ultimately, we bring all of our intelligence together, including capital markets expertise, to bring about the best outcome,” Walter adds.

The center benefits from its location at the heart of the affluent, master planned community of Green Valley Ranch which boasts higher than average annual household incomes of in excess of $100,000 for the greater Las Vegas area, according to a prepared statement. The center also gains from a consumer population of 267,000 within a five-mile radius.