CBRE Arranges $50.3 Million Sale of Shopping Center in Las Vegas

Las Vegas — CBRE has arranged the $50.2 million sale of a 115,037-square-foot portion of Mountain’s Edge Marketplace, a 250,000-square-foot shopping center located within the master-planned community of Mountain’s Edge in Las Vegas. Built in 2016, the property is situated on roughly 14.8 acres. Tenants at the center, which was 98 percent leased at the time of sale, include Ross Dress for Less, Planet Fitness, Starbucks Coffee, Supercuts, The UPS Store, China A Gogo and T-Mobile. The sale excluded the parcel occupied by Albertsons, as well as multiple single-tenant parcels. Roy Fritz and Preston Fetrow of CBRE represented the seller, Remington Nevada, in the transaction. The buyer, an undisclosed out-of-state investor, will assume the existing property debt, which expires in 2032, as part of the acquisition.