CBRE has completed the sale of a six-property retail portfolio in Henderson, Nevada. Dubbed the Eastern Marketplace Portfolio the asset commanded a sale price of $16.2 million. A team of CBRE brokers including Alex Kozakov, Patrick Wade and Matt Bear negotiated the transaction. The buyer was 3D Investments, LLC of Beverly Hills, Calif. The seller was Las Vegas, Nev.-based Eastern Marketplace Pads, LLC.
“The sale represents continued demand for credit tenant, net-leased assets,” said Mr. Kozakov. “Southern California trade buyers continue to aggressively pursue out-of-state assets paying a premium for “best-in-class” product, which was illustrated with this sale.”
The Eastern Marketplace Portfolio was comprised of six pads within the Eastern Marketplace shopping center located at the southeast corner of Eastern Avenue and St. Rose Parkway in Henderson, Nevada. The pads included five freestanding properties including, Tide Dry Cleaners, Chili’s, Wells Fargo, McDonald’s, Carrabba’s and Rebel Oil.
The property benefits from strong area demographics, including an average household income of more than $78,000 within one mile of the property, and high traffic counts on Eastern Avenue and St. Rose Parkway, which see 48,000 and 34,000 vehicles per day each, respectively. Additionally, Dignity Health’s St. Rose Dominican Hospital, which employees 4,000 people, is located directly across the street.