A Henderson, Nevada, retail center has sold for more than $50 million —the largest brokered retail transaction in Nevada history. Marcus & Millichap Real Estate Investment Brokerage Co. represented the seller, Dunn Properties Corp. The Harsch Investment Corp bought the property, which is located within the greater Las Vegas valley region.
"This asset presents the buyer with a stable investment for the preservation of capital, and at the same time a vehicle with the potential for strong returns," says Chris Cunning, senior associate at the Marcus & Millichap National Retail Group’s Las Vegas office. The sale price represents $142 per sq. ft. and a market capitalization rate of 9.3%.