LAS VEGAS–Colliers International has finalized the sale of Tropicana Centre in Las Vegas for $39.8 million.
The retail power center was sold to New Jersey-based investment firm, Arilex Tropicana Associates LLC. The 589,191-square-foot property, one of the largest and most prominent in Las Vegas, is located at 3035 to 3375 E. Tropicana Ave. Joe Bonifatto and Frank Marretti of Colliers International-Las Vegas and Christopher Maling and David Maling of Colliers International-Los Angeles represented the seller, Gregg Williams.
The Tropicana Centre had been in receivership since the height of the recession in 2009. Gregg Williams of Trident Pacific Real Estate Group was ultimately assigned the property. Williams' 12 years of experience in receivership lent itself to managing the distressed property.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
