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National  + Nevada  + Retail  | 

Las Vegas Retail Center Trades for $59M

Tropicana Beltway Shopping Center, a 617,821-square-foot dual grocery-anchored community shopping center in Las Vegas, was sold for $59 million. The buyer was affiliates of San Francisco-based The Krausz Companies, while the seller was Houston-based Weingarten Realty.

The 99.68%-leased center is anchored by a Walmart Supercenter, Lowe’s, Ross Dress for Less, PetSmart, Office Depot, 99 Cents Only and Pier 1 Imports. Walmart and Lowe’s were not a part of the sale. Among the blue-chip roster of tenants includes Applebee’s, Bank of America, IHOP, Panera Bread, Chase Bank and Starbucks.

The property is situated near Summerlin, an affluent northwest Las Vegas community.

Lucescu Realty’s Mark Lucescu represented the the seller, and procured the buyer.

“It’s an institutional-quality center; one of the most dominant and successful centers within the entire MSA with a blue chip tenant roster, an infill location, and high barriers of entry,” noted Lucescu.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition