Desert Oaks Plaza

Highlights:

• Stabilized Asset with Significant WALT and Favorable Roll Schedule
• Below Market Rents Upside
• 360-Degree Trade Area
• Craig Road Corridor Continues to Mature
• Enormous Wave of Capital Demand for Neighborhood Centers
• Rapid Population Growth and Residential Demand

Description:

Colliers is pleased to present the opportunity to acquire the fee-simple interest in Desert Oaks Plaza (the “Property”), a 53,324-square-foot neighborhood retail center situated on approximately 5.52 acres along the Craig Road Corridor in North Las Vegas, Nevada. Built in 2008, Desert Oaks Plaza is a prime neighborhood retail center within the corridor, which boasts a tight vacancy rate of 4.9%.

The Property is currently 100% leased to a variety of daily-needs retail tenants ranging in size from 1,000 to 8,000 square feet. With 5.6 years of weighted average lease term and less than 12% of the rent roll expiring in the next 3 years, an investor will benefit from a favorable rollover schedule and steady cash flow stream. Furthermore, in-place rents sit 9% or more below market, providing upside to bump rents as leases roll.

Ideally located between the I-15 and US 95 freeways along the busy Craig Road Corridor, the Property is surrounded in every direction by dense residential communities, providing a stable consumer base. With virtually no developable land remaining with frontage on Craig Road and vacancy tightening, market rents are expected to see continued upward pressure.

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