Overview

Description

Colliers is pleased to exclusively offer for sale an Absolute NNN leased Pep Boys and Advance Auto Parts building located just off of the US-95 Freeway at the signalized intersection of W. Lake Mead Blvd. and Tenaya Way with total traffic counts exceeding ±254,674 VPD. This asset consists of an ±18,744 SF building that is master leased by Pep Boys with a portion subleased by Advance Auto Parts and is positioned within Lake Mead Pavilion – a ±118,859 SF retail center anchored by Planet Fitness, Chuck E. Cheese’s and Big 5 Sporting Goods, along with national co-tenants including Jimmy John’s, Lenscrafters, Denny’s, and Terrible Herbst Chevron.

Pep Boys is an American automotive aftermarket service chain that operates more than 9,000 service bays in 35 states and Puerto Rico. The property benefits from a new 5-year corporate guaranteed lease extension with 12% rent increases every 5 years, including options.

The asset services the dense and affluent Summerlin, Pueblo, and Desert Shores communities of northwest Las Vegas. The site is strategically located with strong nearby demand drivers such as MountainView Hospital, Summerlin Hospital, Suncoast Hotel Casino, Rampart Hotel Casino and Bettye Wilson Soccer Complex. The trade area consists of ±427,815 residents with an annual household income of ±$95,950 within a 5-mile radius.

Highlights

• Absolute NNN Lease
• National Credit Tenant
• Building is Master Leased by Pep Boys With a Portion Subleased by Advance Auto Parts
• Excellent Visibility with Strong Traffic Counts
• High Quality Trade Area
• National Co-Tenants

Documents

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