LAS VEGAS—LBG Real Estate Companies, and partner Blue Vista Capital Management, have sold Southwest Marketplace grocery-anchored property in Las Vegas.
The property was sold to Philips Edison for $30.4 million.
Located at the Rainbow Boulevard and Windmill Lane, Southwest Marketplace is a 115,720 square foot, class A shopping center anchored by Smith's Food and Drug and Smith's Gas (a wholly owned subsidiary of The Kroger Co.). The property was originally developed in 2007. Smith's ground leases its premises, which was included in the sale. The sale also included two completed building pads for future development.
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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.
