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Excel Trust Pays $17M for Primo Neighborhood Center

LAS VEGAS-The seller imposes special conditions on the 18 investors who were competing to buy the center in an affluent neighborhood.

By Morris Newman | Updated on December 02, 2011

LAS VEGAS-Making its initial foray into the Las Vegas multifamily market, Excel Trust has purchased an 118,763-square-foot neighborhood center. Although the price was undisclosed, real estate sources say the center traded for $17.5 million in all-cash deal.

Albertsons and CVS Pharmacy are the grocery-and-drug store anchors of the Anthem Highlands Shopping Center, which sits on a 13-acre site at northwest corner of Anthem Parkway and Bicentennial  Parkway.  Other national tenants in the center include Bank of America, Pizza Hut, Starbucks, Subway and Wells Fargo Bank.

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