Rainbow Sunset Pavillion Sold
Author: Diana Heeb Bivona
After completing the first phase of the Rainbow Sunset Pavilion, the project has been sold. The new owner TREC Acquisitions, a subsidiary of TREC Investment Realty purchased the development for $24.5M.
Phase one includes the 64,000-sf retail center which sits on 8.4 acres at Rainbow Boulevard and Interstate 215. Tenants in the seven-building retail piece acquired include Starbuck’s, Nevada Federal Credit Union, Farmers Insurance, Port of Subs, the Cracked Egg, LA Boxing, Cabi Developers and Jugo Juice.
Rainbow Sunset Pavilion will be a 450,000-sf mixed-use office and retail project on 23 acres when completed. The office component will total 350,000 sf. The retail component will total approximately 100,000 sf.