LAS VEGAS – A 60,105-square-foot portion of Spring Valley Town Center in Las Vegas has sold to First Allied Corporation for $11.5 million. The 267,000-square-foot center is located at 6775 and 6847 W. Flamingo Road, and 4122 and 4260 S. Rainbow Blvd.
The center is 92 percent occupied. Notable tenants within the acquired portion of the center include the UPS Store, 7 Eleven, GNC and Fatburger. Additional tenants not involved in the sale include La Bonita Supermarkets, Lee’s Discount Liquor and Bank of America.
The all-cash buyer represented itself in this transaction. David Jewkes of Integris Realty Services acted as court-appointed receiver on behalf of the loan servicer, Five Mile Capital. The receivership sale was executed by Robert Moore, Lisa Brady and Katie Brase of Faris Lee Investments’ Las Vegas office.