New To Market: Trophy Retail Power Center | National Anchors

FOR SALE

RAINBOW PROMENADE RETAIL CENTER

2021 - 2251 N. Rainbow Blvd., Las Vegas, NV 89108

PROPERTY OVERVIEW

LOGIC Commercial Real Estate is pleased to exclusively offer for sale Rainbow Promenade, a +/- 145,898 SF power center situated on a +/- 16.71 AC parcel and is strategically positioned directly off of the US-95 Freeway. The asset is located at the signalized intersection of Rainbow Blvd. and Lake Mead Blvd. with combined traffic counts in excess of +/- 265,000 CPD. Rainbow Promenade is 96% occupied and anchored by major retailers such as Hobby Lobby, Dollar Tree, Barnes & Noble, Cost Plus, and shadow-anchored by AMC Theatre (NAP), Best Mattress (NAP), and Party City (NAP).

PRICE
$20,314,000

CAP RATE
6.75%

TOTAL SIZE
+/- 145,898 SF

INVESTMENT HIGHLIGHTS

TROPHY ASSET:

• Rainbow Promenade is a dominant power
center within the Lake Mead retail corridor
• 94% of the rent roll is leased to national or
regional retailers
• Long term anchor tenants with strong rent
collection during Covid

80 MONTH WALT | BELOW MARKET RENTS:

• The center benefits from a Weighted Average
Lease Term (WALT) of 80 months.
• Below market rents with an average lease
rate of $10.91 PSF.

PRIME LOCATION:

• Superior retail location along US-95 and N.
Rainbow Blvd (+/- 265,000 CPD)
• Highway visibility with over 4,000 feet of
frontage
• Excellent ingress, egress, and parking

DENSE AND AFFLUENT DEMOGRAPHICS:

• Within a 5-mile radius there are +/- 366,880
residents with an average HHI of +/- $79,795
• The asset services affluent neighborhoods in
NW Summerlin, The Pueblo, and Desert Shores
communities


	VIEW OFFERING MEMORANDUM

MALAN | MARCELLO
RETAIL & INVESTMENT ADVISORS

Malan | Marcello Retail & Investment Advisors have 24 years of combined experience specializing in development site selection, land acquisition, tenant representation, lender and special servicer representation along with investment sales. Meet with an award winning team and put their expert deal experience to work for you!