Brixton Capital acquired the Las Palmas Village shopping center from Cop Group for $29.4 million in an off-market transaction.
Located at 445 E. Windmill Ln. in Las Vegas, the 106,838-square-foot, grocery-anchored shopping center is 95% occupied. The tenants occupying the three building pads include Vons, Starbucks, Wells Fargo, Pizza Hut, The UPS Store and Taco Bell.
Brixton purchased the center at a significant discount to replacement cost, with clear value-add upside through below-market rents, vacancy lease-up and a comprehensive capital improvement program.
Dan Tyner, Gleb Lvovich and Geoff Tranchina of JLL represented the seller, while Brixton represented itself in this transaction.
Previously, Brixton owned Decatur 215, a 126,678-square-foot shopping center in Las Vegas that it sold in 2023. Brixton also previously sold Rainbow Plaza, a 259,980-square-foot, 60-tenant shopping center in Las Vegas, anchored by two grocery chains, in 2021 after a strategic repositioning.
The post Brixton Picks Up 106K-SF Las Vegas Retail Center appeared first on Connect CRE.
​Â
