LAS VEGAS, NEVADA – March 1, 2019 – Cushman & Wakefield (C &W) Las Vegas has procured the exclusive agency leasing assignment for the Tropicana Beltway power center near Tropicana and the 215 Beltway in southwest Las Vegas. Previously leased by the former owners in-house for over 15 years, the Tropicana Beltway Center features a national tenant mix, with major anchors Lowe’s and Walmart. C&W Senior Director, Dan Hubbard, successfully procured the assignment which is located at the southeast corner of Tropicana Avenue and Fort Apache Road. This major regional shopping center features more than 50 retailers including Bank of America, Office Depot, Ross Dress for Less, Office Depot, 99-cent Only, Applebee’s and Starbucks, Chase Bank, IHOP, Del Taco, Burger King, El Pollo Loco, in addition to Lowe’s & Walmart.
“We were up against some major competitors,” says Hubbard. “Procuring this assignment speaks to our expertise in the marketplace and ability to execute lease stabilization strategies to ensure our clients see the maximum returns for their investment. It is an institutional-quality center and is no doubt one of the most dominant and successful centers within the area.”
Tropicana Beltway spans more than 617,800 square feet, and is situated in immediate proximity to Summerlin, which is among the most affluent communities in Nevada, with an average annual household income of nearly $150,000. The southwest valley is perhaps the fastest-growing area of Las Vegas and continues to experience tremendous housing growth and commercial development. C&W Las Vegas Managing Principal, Christina Roush says “This area has really become one of the most significant new development areas in the Las Vegas valley since the market’s recovery, as evidenced by the numerous multi-family and new home subdivisions which have sprung up, and IKEA’s new location less than two miles south of this center.”
Homebuilders closed nearly 2,850 sales in the southwest part of the valley through September 2018 — by far the most of any submarket in the valley, according to Home Builders Research.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.