Montecito Marketplace Breaks Ground
Author: Diana Heeb Bivona
Montecito Cos. launched Phase II of their $48 million, 207,765-square-foot retail center in northwest Las Vegas. The first phase of construction completed in November 2005, involved building a 19.2 acre, six building complex which is now 100 percent leased.
Phase II will involve constructing seven buildings with inline stores, retail pads and anchor space. Asking rents are expected to range from $3.10 to $3.50 per square foot triple-net with divisibility from 1,200 to 30,000 square feet. Once completed in February 2007, the Montecito Marketplace will contain 13 buildings with 42 shops.