CBRE Arranges $7.9 Million Sale of Two-Property Retail Portfolio in Las Vegas

by Katie Sloan

Las Vegas — CBRE has arranged the $7.9 million sale of a two-property retail portfolio located in Las Vegas. The portfolio spans 17,940 square feet and includes Flamingo Jones Plaza, a 10,712-square-foot, six-tenant retail pad located at the intersection of Flamingo Road and Jones Boulevard; and Tropicana Centre, a 7,228-square-foot, five-tenant retail pad located near the intersection of Tropicana Avenue and Jones Boulevard.

Flamingo Jones Plaza was 78 percent leased at the time of sale to tenants including Subway, Marco’s Pizza, Robert James Salon, B&T Nails and Rapid Cash. Tropicana Centre was fully occupied at the time of sale by tenants including Del Taco, Ethiopian Spice, Planet Vegas Smoke Shop, Trenz Salon and Nail Pro & Training.

Roy Fritz, Michael Hsu, Dylan Heroy, Arthur Flores, Mark Latimer, Jay Gomez and James Kaye of CBRE represented the seller, Farmers and Merchants Trust Company Trustee, in the disposition of the properties to Rand & Miner LLC and Tropicana Centre 22 LLC.

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