2 Las Vegas-area shopping centers sold

By Steve Green

Friday
2 December 2011
9:20 a.m.

Two Las Vegas-area shopping centers have been sold, brokers and buyers announced this week.

Primestor Development Inc. of Los Angeles, which focuses on urban markets and the Hispanic community, said it has acquired 4G Plaza for $8.825 million.

4G is a neighborhood shopping center at 4215-4275 E. Charleston Boulevard, at Lamb Boulevard.

Purchased from 4G Properties LLC, the 78,849-square-foot center is near a Home Depot. It’s 93 percent leased and is anchored by El Super, with other tenants including Wells Fargo, Taco Bell, Big 5 Sporting Goods and Sprint.

“It is well-leased to terrific credit tenants, and is located in a densely populated Latino market,” Alan Araki, Primestor managing director for investments, said in a statement.

The is the first project in Las Vegas for Primestor.

Separately, Excel Trust of San Diego entered the Las Vegas-area market with the purchase for $17.5 million of Anthem Highlands Shopping Center in Henderson from Regency Centers, a real estate investment trust based in Florida.

At Anthem and Bicentennial parkways, the 118,763-square-foot center is anchored by Albertsons and CVS. Other tenants include Bank of America, Wells Fargo, Pizza Hut, Starbucks and Subway.

LUCESCU REALTY of Newport Beach, Calif., with a Las Vegas office, said it represented the seller.

“This sale shows the local market is continuing to rebound,” Frank Marretti, managing director of LUCESCU’s Las Vegas office, said in a statement.