HENDERSON, NV – (RealEstateRama) — LBG REAL ESTATE COMPANIES, LLC (LBG), a Southern California-based investor in retail real estate, in partnership with Aviva Investors Real Estate Capital Partners I-A, LP, announce that they have completed the sale of a prime, single-tenant net-lease property in Henderson NV to an undisclosed buyer at a sale price of $23,162,717. The sale of the property was brokered by Chris Kostanecki and Dave Lucas of Capital Pacific in Las Vegas, NV.
The property is prominently located within the Sunset Plaza Shopping Center at 1030 W. Sunset Road, near Interstate 515, and contains approximately 102,370 square feet of building area on 9.07 acres. Built in 1992, the property is surrounded by many leading national retailers, which provides a strong consumer draw to the intersection. These include a Walmart Supercenter, Kohl’s, and Forest City’s highly successful Galleria at Sunset super-regional mall.
LBG acquired the Home Depot-leased property in December of 2012. The plan going into the purchase was to extend the base lease term of the Home Depot. LBG was able to perform a “blend and extend” to stabilize the asset for the long-term and add value to the property.