“Alamosa Plaza provided Stockdale with a well-positioned asset and strong in-place income with over 75% of the center's total leasable area under contract through 2021,” according to Schubert. Built in 1985 and fully redeveloped in 2005, Alamosa Plaza is an infill shopping center with a highly visible location on the southeast corner of East Desert Inn Road and Pecos McLeod Drive. Anchored by Albertsons, Alamosa Plaza was 90.5% leased at the time of sale to a total of eight tenants. Dan Adamson of Las Vegas-based ROI Commercial Real Estate assisted DTZ during the sale transaction.

The team also closed on the $23.4 million sale of Las Palmas Village in Las Vegas on behalf of the seller, Donahue Schriber Realty Group of Costa Mesa, CA. The buyer was Australian-based Citywest Investments Joint Venture. The 106,838-square-foot Las Palmas Village is located at 445-525 E. Windmill Lane.

“Las Palmas Village is a solid neighborhood shopping center with daily needs tenants and a strong history of occupancy,” says Hackett. “Its location near surrounding master-planned communities and the city's largest concentration of employment, the Las Vegas Strip, made it an attractive investment opportunity.” Built in 1997, Las Palmas Village is anchored by one of Las Vegas's highest performing Vons grocery stores, which occupies 57,566 square feet. The neighborhood retail center is 99.2% leased, with a substantial list of national tenants including Wells Fargo, Bank of America, Taco Bell, Fantastic Sams, American Family Insurance, The UPS Store, Pizza Hut and H&R Block. Las Palmas is located on 10.8 acres at the corner of Bermuda Road and Windmill Lane, an intersection that has visibility to approximately 72,000 daily vehicles.

The pair brokered the $52 million sale of Crossroads Towne Center in North Las Vegas on behalf of the sellers, a company formed by The Eagle Group in Los Angeles. The buyer was a company formed by Cornerstone Advisers of Santa Monica, CA. Built in 2007, Crossroads Towne Center is located at the intersection of I- 215 and Decatur Boulevard, part of the Aliante master planned community in North Las Vegas.

“Crossroads is anchored by one of the top performing Walmart Supercenters in the state of Nevada,” according to states Hackett. “The North Las Vegas retail market is rebounding nicely with Decatur and 215 one of the premier intersections, providing stability and upside for Cornerstone's investment.” Crossroads Towne Center (6436 and 6512 N. Decatur Blvd.) is a 148,791-square-foot neighborhood retail center located on 16.34 acres that services an affluent and dense trade areas in north Las Vegas with a population of nearly 300,000 within five miles of the property.

The duo closed the sale of Cheyenne Point Shopping Center, 2045-2175 E. Cheyenne Ave. in north Las Vegas, on behalf of an entity formed by Sarofim Realty Advisors. Medford Capital LLC of Calabasas, CA, acquired the 93,901 square foot grocery-anchored retail center for $19.7 million. The pair represented the sellers.

“The North Las Vegas market continues a robust recovery, and Cheyenne Point is ideally located to service the city's growing population,” says Hackett. “The property has a strong mix of national and local service and 'daily needs' retailers that cater to the local consumer base in North Las Vegas.”

Located on 9.23 acres, Cheyenne Point Shopping Center is anchored by a 30,000-square-foot Mariana's Supermarket, a Las Vegas-based, top-performing Hispanic grocer. Mariana's occupies nearly 32% of the total leasable space in the property. In addition to Mariana's, the property's tenants include Dollar Tree, Gen X Clothing, Rainbow, CiCi's Pizza, T-Mobile, Taco Bell and Subway and nearly two dozen locally owned retailers. Las Vegas-based Virtus Commercial had the leasing and property management assignment for Cheyenne Point at the time of sale.

Hackett stresses, "These are all daily use, anchored, neighborhood shopping centers very much in demand right now."