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$79M Sale Proves Vegas Retail Real Estate is Hot

LAS VEGAS-LNR Partners sells the 284,107-square-foot District at Green Valley Ranch to Vestar Development, in a joint venture with New York-based Rockwood Capital.

By Natalie Dolce | Updated on November 01, 2011

LAS VEGAS-Vestar Development, in a joint venture with New York City-based Rockwood Capital, has acquired the District at Green Valley Ranch, a 384,107-square-foot landmark retail property located outside of Las Vegas, for $79 million. The all-cash deal is the city’s second largest commercial real estate investment transaction in three years, according to the two firms.

Richard Walter, president, and Donald MacLellan, senior managing director, out of Faris Lee Investment’s Irvine, CA headquarters, and Rob Moore, senior managing director in Faris Lee’s Las Vegas office represented the seller, LNR Partners LLC. The JV represented itself.

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