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Office-to-Retail Center on Way in Las Vegas
Partners Capital and CNR Retail have finalized design plans to convert an aging 100,000-square-foot office complex in Las Vegas’ Green Valley Ranch neighborhood into an open-air retail center. The property is located at 2550 Paseo Verde Pkwy, just south of I-215 and east of St. Rose Pkwy.
The $30 million adaptive reuse development, dubbed The Cliff, will offer a collection of casual and fine-dining restaurants, boutique shops, and health and wellness uses. A tavern gaming license will allow slot machines and other games of chance in the center’s pubs.
The Partners Capital-led joint venture acquired the property off-market in August 2023 for $17.25 million. Built in 2000, it was 80% leased to office tenants at the time of sale.
“We are removing older surplus office space and replacing it with what we envision will be a popular amenity,” added Partners Capital Bobby Khorshidi.
Construction is expected to begin in October, with occupancy in Q2 2025. The project architect is AO Architects.
- ◦Development
