HENDERSON, NV—Partners Capital has completed a joint-venture acquisition of Crossroads at Sunset Shopping Center, a 165,000-square-foot retail center located in the Las Vegas submarket of Henderson.
Anchored by Sports Authority, Toys R Us, O'Reilly Auto Parts and Wells Fargo, Crossroads at Sunset is strategically situated within a dense retail corridor benefiting from excellent traffic counts and area demographics. Partners Capital and its affiliates took title after purchasing the debt from a special servicer in an all-cash, 10-day transaction.
“We are pleased to add this shopping center to our growing portfolio,” said principal Bobby Khorshidi. “The deal characteristics checked most of the boxes in our acquisitions criteria, which includes value-added opportunities in dense infill locations with strong demographics at a price that is less than replacement cost. We look forward to continuing to grow our presence in the Las Vegas MSA.”
Partners Capital is a leader in retail transactions in the Las Vegas area, having acquired over $200 million in retail properties since 2009. Other recent Las Vegas MSA acquisitions include:
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Charleston Festival
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Stone Canyon Professional Park
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Bonita Plaza
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Mall Ring (Galleria at Sunset Mall Outparcel)
Since 2002, the company and its principals have been responsible for placing over $1.0 billion of debt and equity and it currently controls a portfolio of over $100.0 million in debt and over 1.0 million square feet of real estate in California, Nevada and Arizona.
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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.
