Case Study
Representation: Seller
St. Rose Plaza is a ± 37,925 SF multi-tenant retail shopping center that features a diverse mix of regional and local tenants including Enterprise Rent-A-Car, Dotty’s, BBQ Bills, Magnolia Pet Wellness and many more. The Property is located in West Henderson on the west end of St. Rose Parkway near the St. Rose Parkway and I-15 interchange. St. Rose Plaza is well-positioned between the Master-Planned communities of Inspirada, Southern Highlands, Silverado Ranch, and Seven Hills facilitating convenient access for residents of these communities to the center. West Henderson is a dynamically growing submarket and includes the new Valley Health System Hospital just up the street from St. Rose Plaza.
The Property was brought to market during a challenging time characterized by lending constraints and elevated interest rates. The Property was 100% occupied, so there was not immediate upside through new leasing. The Seller had a pricing goal that he wanted to achieve. Prevailing lending rates created a serious challenge. The ISG Team promoted the concept Seller financing at below market rates to enable the Seller to achieve his price. In addition, several of the leases in the center were at below-market lease rates, which provided a buyer with the opportunity to increase the NOI in the near term. It was important to educate the buyer on the growth of West Henderson and the strength of the Las Vegas retail market. The Property was successfully sold at the Seller’s price.
“The Logic Commercial Investment Team (Investment Services Group (ISG)) provided exceptional service in the disposition of my two Las Vegas retail centers achieving my desired pricing during a time of market volatility for real estate investments. ISG’s market knowledge, thorough underwriting, and marketing efforts were essential to getting the deals done. Their strategic approach in pinpointing and securing the right buyers played a pivotal role in seamlessly finalizing the transactions.”
– Chris Rodenfels