Lucescu Realty Brokers $67.2M Sale of Shadow Mountain Marketplace in Las Vegas
LAS VEGAS — Lucescu Realty has negotiated the sale of Shadow Mountain Marketplace, a 359,103-square-foot community shopping center located in Las Vegas. Wynmark Co. sold the property to a private investor for $67.2 million.
Developed in 2007 by the seller, Shadow Mountain Marketplace is anchored by Costco, Seafood City Marketplace, Walgreens, Best Buy and Ashley Furniture. Additional tenants include McDonald’s, Chili’s, Wells Fargo Bank, Panda Express, Subway, Sport Clips, Massage Envy, Wing Nutz, T-Mobile, Best Mattress, Café Rio, Pacific Dental, Kumon Learning Center, Scottrade, Great Harvest Bread Co., State Farm Insurance, H&R Block and Omega Studio Salons.
At the time of sale, the property was 98.9 percent leased and more than 84 percent of the leased gross lease area is occupied by regional and national tenants. The 154,700-square-foot Costco, which features a full-size grocery department, was not included in the sale.
Mark Lucescu of Lucescu Realty represented the seller and procured the buyer in the deal.