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DevelopmentNevadaNews

Partners Capital, CNR Retail Unveil Plans for 100,000-Square-Foot Office-to-Retail Redevelopment in Las Vegas

by Hayden Spiess

Las Vegas — Partners Capital and CNR Retail have announced plans to convert a 100,000-square-foot office complex, located in Las Vegas’ Green Valley Ranch neighborhood, into a food-and-beverage-driven, open-air retail center. Dubbed The Cliff, the $30 million adaptive reuse development will offer 25 retail spaces, ranging from 1,800 square feet to 17,000 square feet; a central bar; a 26,000-square-foot covered outdoor dining lounge with communal meeting spaces; live performance area; fire pits; kiosks; and public art installations.  The joint venture acquired the property in August 2023 for $17.2 million in an off-market …

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DevelopmentFinanceNevadaNews

Gantry Secures $12.7 Million Bridge Financing for Shopping Center in Reno, Nevada

by Hayden Spiess

Reno, Nev. — Gantry has secured a $12.7 million bridge loan to finance construction and leasing at North Reno Plaza, a shopping center located in Reno. The property is currently undergoing renovations including the addition of a new junior-anchor space and preparations for the opening of tenants Starbucks Coffee and El Super. Tony Kaufmann, Charlie Kokernak and Andrew Ferguson of Gantry arranged the financing on behalf of the undisclosed borrower. 

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Investment salesNevadaNews

Cooper Commercial Arranges $2.3 Million Sale of Single-Tenant Property in Las Vegas 

by Hayden Spiess

Las Vegas — The Cooper Commercial Investment Group has arranged the $2.3 million sale of a single-tenant retail property located in Las Vegas. AutoZone occupies the building, which is situated on an outparcel to a Walmart-anchored shopping center. Dan Cooper of Cooper Commercial represented the seller, a Florida-based private investment group, in the transaction. AutoZone recently signed a new 15-year lease, with roughly 14 years remaining. 

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EntertainmentInvestment salesNevadaNews

LOGIC Commercial Real Estate Brokers Sale of Emerald Island, Rainbow Club Casino in Henderson, Nevada

by Hayden Spiess

Henderson, Nev. — LOGIC Commercial Real Estate has arranged the sale of Emerald Island and Rainbow Club Casino in downtown Henderson. An affiliate of ECL Water Street LCC, a Las Vegas-based company with 45 properties in three states, acquired the properties from Tim Brooks for an undisclosed price. The buyer company is led by Ron Winchell and Marc Falcone. Tim Brooks, former owner, will continue overseeing both properties’ day-to-day operations as general manager. Comprising approximately 2.7 acres, the portfolio features a combined gaming machine count of approximately 768 and each property …

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LeasingNevadaNewsRestaurants

Shake Shack Opens First Drive-Thru Restaurant in Nevada

by Hayden Spiess

North Las Vegas, Nev. — Shake Shack has opened a new drive-thru restaurant in North Las Vegas, roughly 3 miles outside Las Vegas. This marks the first drive-thru for Shake Shack in Nevada and the fifth location for the brand in the state. Shake Shack’s presence in the United States currently includes more than 320 restaurants across 33 states. 

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FinanceNevadaNews

Calmwater Capital Provides $23.3 Million Acquisition Financing for Shopping Center in Las Vegas

by Hayden Spiess

Las Vegas — Calmwater Capital has provided a $23.3 million loan for the acquisition of Decatur 215, a 126,678-square-foot shopping center located in Las Vegas. An entity doing business as Decatur Palm Plaza LLC was the borrower. Tenants at the property, which was fully leased at the time of financing, include Petco, Hobby Lobby, Ulta Beauty, Sprouts Farmer’s Market, Sleep umber and Blaze Pizza. Zachary Novatt, Larry Grantham and DaJuan Bennett of Calmwater Capital originated the financing. 

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Investment salesNevadaNews

CTO Sells Eastern Commons Shopping Center in Metro Las Vegas for $18.2 Million

by Hayden Spiess

Henderson, Nev. — CTO Realty Growth has sold Eastern Commons, a 129,600-square-foot shopping center located in Henderson, roughly 15 miles outside Las Vegas. An undisclosed buyer acquired the property for $18.2 million. The seller plans to utilize proceeds from the sale in a 1031-exchange transaction. 

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Grocery-anchoredInvestment salesNevadaNews

Brixton Capital Sells 126,678-Square-Foot Retail Center in Las Vegas

by Hayden Spiess

Las Vegas — Brixton Capital has sold Decatur 215, a 126,678-square-foot retail center located in Las Vegas. Tenants at the center, which was fully leased at the time of sale, include Petco, Hobby Lobby, Ulta Beauty, Sprouts Farmer’s Market, Sleep Number and Blaze Pizza. An entity doing business as Decatur Palm Plaza LLC acquired the property for an undisclosed price. Lucescu Realty represented the buyer, and Brixton Capital was represented on an internal basis. 

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