Investment Offering
Henderson, NV - Horizon Town Center
1301 S. Boulder Highway | Henderson, NV 89015
$10,023,000
Price9%
Cap Rate$902,029
NOI95,379
± SF Offering GLAInvestment Highlights
SRS Investment Properties Group is pleased to present the rare opportunity to acquire Horizon Town Center, a Lowe’s Home Improvement (not-a-part) shadow-anchored community center located in Henderson, Nevada (Las Vegas MSA). The property is anchored by Kroger (dark, paying rent), and features a strong tenant lineup including PT’s Pub, GameStop, Great Clips, Big 5 Sporting Goods, and more. Investment grade anchor tenant Kroger, Inc. (S&P: BBB) features over 10-years remaining on the lease with a 10% rent increase in Nov-2023. The site offers great potential for a value-add investor through leaseup of the vacant suites and repositioning/redevelopment of the currently dark Kroger. The shadow-anchor Lowe’s Home Improvement owns their land and building, demonstrating long-term commitment to the site and the viability of this location. A newly building standalone Goodwill (not-a-part) is located in the center, which along with not-a-part pads Bank of America and IHOP drive additional traffic to the center. Bank of America and IHOP are offered for sale individually (contact broker for details).
Location
Horizon Town Center is located at the signalized, hard corner intersection of S. Boulder Highway and E. Horizon Drive (35,000 combined cars per day). East Horizon Drive offers freeway access to the 515 Highway (60,000 cars per day), located 2 miles east. The 515 Freeway offers convenient access to downtown Las Vegas and McCarran International Airport, both located north with less than 20 minute drivetime. The site features large pylon signage enhancing visibility for the subject property. The 3-mile trade area includes a population of 78,000 with more than 17,000 employees and an average household income over $79,000.
Documents & Links
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Contact
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]NV #: B.1003241.LP