Las Vegas Commercial Real Estate

Another testament to the power of location. A 7,683-sf, fully leased building at the Silverado Ranch Shopping Center fetched $5.22 million in a recent sale. That’s $680 per sf with a price tag equating to a 5.8% cap rate.

Developer Silverado Wellington LLC. entertained eight offers before selling the property for $5.22 million to a private family from Agoura Hills, CA. It is believed that the per-sf price is the highest ever paid for a non-strip retail property.

This entry was posted on Wednesday, November 22nd, 2006 at 4:47 am and is filed under Commercial Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.