PEBB Enterprises Sells Galleria Pavilion Shopping Center in Henderson, Nevada for $22.5M
HENDERSON, NEV. — South Florida-based PEBB Enterprises has completed the disposition of Galleria Pavilion, a shopping center located at 601-617 Mall Ring Circle in Henderson. Dong Koo Kim and Jong Ok Kim, trustees of the Dong Koo Kim and Jong Ok Kim Family Trust, acquired the asset for $22.5 million.
The 64,598-square-foot Galleria Pavilion is on an outparcel of Sunset Mall, a 1.1-million-square-foot retail center. At the time of sale, the multi-tenant Galleria Pavilion was 95 percent occupied. Current tenants include Buffalo Wild Wings, Panera Bread, Nothing Bundt Cakes, Aqua Tots and Plato’s Closet.
PEBB originally purchased the property in October 2019, when it was only 37.4 percent occupied.
Adam Malan and Deana Marcello of LOGIC Commercial Real Estate represented the seller, while Jennifer Lee of Berkshire Hathaway Home Services Nevada represented the buyers in the deal.