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NKF Handling Las Vegas Strip Sale for Passco

Silver City Plaza, a 100%-leased retail center at the epicenter of more than $10 billion of development activity on the Las Vegas Strip, has been listed for sale. NKF is handling the listing for Irvine, CA-based Passco Companies, LLC in a deal expected to garner interest in excess of $60 million.

The 41,583-square-foot retail center features five tenants, including Ross Dress for Less, 7-Eleven, Las Vegas Tickets and Tours, and Crazy Ely. The 2004-built center features a 40-foot neon monument sign with nearly 250 feet of frontage at Las Vegas Blvd. and Convention Center Dr.

Developments surrounding the property include the $4.2-billion Resorts World Las Vegas, the $3.1-billion The Drew, and the 1.4-million-square-foot Las Vegas Convention Center expansion.

NKF’s Rob Ippolito says, “The property offers investment-grade income with tremendous tenant performance, inherent appreciation given the development of adjacent sites, and a number of presumably profitable exit strategies only prime parcels of real estate are able to command.”

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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