HENDERSON, NV—Cushman & Wakefield's Retail Investment Advisors has been exclusively retained to market Sunmark Plaza, a 232,072 square foot best-in-class power center in upscale Henderson, to investors.
Cushman & Wakefield brokers Pete Bethea, Glenn Rudy and Rob Ippolito are handling the transaction on behalf of the center's current owner. Offers are due to Rudy by Wednesday, October 8.
Sunmark Plaza features a synergistic tenant offering that combines destination, value, and daily needs including such brands as Bed Bath & Beyond, Sports Authority, Petco, Best Buy, Starbucks, Panda Express, and Orangetheory Fitness as well as an impressive roster of nationally recognized restaurants and services. The center is shadow anchored by one of Las Vegas's most successful Costco warehouses and is adjacent to General Growth Properties' recently remodeled, 1.1 million square foot Sunset Galleria regional mall.
“Sunmark Plaza provides investors with the opportunity to own the best-in-class regional power center in the most desirable retail submarket in Las Vegas,” said Rudy, eirector, capital markets at Cushman & Wakefield. “An impressive list of tenants amongst an impressive village of centers speaks to the strength, desirability, and durability of Sunmark Plaza. The benefit of adding value through a very real lease up strategy may be secondary to the historic stability and performance of Sunmark Plaza.”
Sunmark Plaza was built in 2001 to serve the expanding needs of the highly affluent Las Vegas suburbs of Green Valley and Henderson, the most concentrated retail submarket in Nevada with an average household income of $72,000 per year. More than 120,000 people live within three miles of the center with an additional 1,000 residential units currently under construction.
The property will be delivered free of existing debt, allowing prospective investors to take advantage of historically low interest rates.
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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.
