Las Vegas, NV (January 30, 2024) – SRS Real Estate Partners announced today it has completed the $9.5 million sale of Deer Springs Shoppes located at 640 and 680 E. Deer Springs, and 675 Dorrell Lane in North Las Vegas, NV. The 28,224-square-foot, three-building property is 100% occupied and includes a vacant pad site which is proposed for a 4,000-square-foot development.
SRS Capital Markets Managing Principal Patrick Luther represented the Pennsylvania-based seller. The buyer was a Los Angeles-based private investor.
“This retail center is located in a growing and affluent North Las Vegas area and is just seven miles from downtown Las Vegas,” said Luther. “We garnered a number of offers and secured an all-cash buyer.”
Built in 2009, the property is situated on 5.16 acres and includes a diverse lineup of tenants such as UPS, Verizon and Pacific Dental. The asset is an outparcel to a power center which includes Target, Home Depot, Ross Dress for Less, PetSmart, and Staples, among others. There are more than 254,000 residents and 49,000 employees within a five-mile radius of the property.
In 2023, SRS Capital Markets completed approximately $2 billion in deal volume comprised of 495 transactions in 43 states. SRS currently has in excess of 600 properties actively on the market with a market value surpassing $2.85 billion.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with more than 25 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.