Crossroads at Sunset | FOR SALE

Highlights:

• Outstanding, National and Regional Credit Grocery Anchored Investment with Complementary Tenant Mix in the High Growth Market of Henderson, NV. Located at the Intersection of Sunset Rd. and Stephanie St. with over 67,000 VPD.
• Pride of Ownership Grocery and Fitness Shadow Anchored Shopping Center - Crossroads at Sunset is an approximately 40,000 square foot shopping center, which includes Golden Corral, Barbeques Galore, Hallmark, and other regional tenants. The center is strategically shadow-anchored by several high-performing credit tenants including Starbucks, Wells Fargo, Mariana’s Supermarket, EoS Fitness, Texas Roadhouse, and more. This synergistic tenant mix includes grocery, fitness, food services, daily necessities, and medical services, creating a vibrant and essential shopping destination for the community.
• Desirable Regional Tenancy - Close to 80% of the Gross Leasable Area (GLA) at Crossroads at Sunset is leased to strong national and regional tenants. Notable tenants include Barbecues Galore, Hallmark, Golden Corral, and Celebrate Dental, all of which contribute to the center’s robust tenant profile and attract a steady flow of customers.
• Minimal Landlord Expenses or Capital Expenditure - All tenants are responsible for paying their full pro-rata share of common area maintenance (CAM) expenses, property taxes, insurance and management. This structure allows the landlord to pass through operating expenses to the tenants, ensuring a stable and predictable income stream.
• Stabilized Investment - Crossroads at Sunset boasts a 100% occupancy rate, with no current vacancies. This fully leased status underscores the center’s desirability and stability as an investment.
• Strong WALT - The weighted-average lease term remaining for tenants is over seven (7) years. This long-term lease structure minimizes the landlord’s near-term lease-up risk and associated costs, providing a secure investment outlook.
• Improving Returns - Most leases at Crossroads at Sunset include strong scheduled rent increases. These escalations help hedge against inflation and ensure that the investment continues to generate increasing returns over time.
• Prime Henderson (Las Vegas) Retail Location with Strong Real Estate Fundamentals, Limited Vacancy and Increasing Rental Rates
• High Traffic Signalized Corner Location - Crossroads at Sunset is prominently located at the major signalized intersection of Stephanie Street and Sunset Road. This prime corner location benefits from combined traffic counts exceeding 67,000 cars per day, ensuring high visibility and accessibility.
• Major Retail Corridor with Regional Draw - Situated within the heart of Henderson’s largest commercial center, Crossroads at Sunset is in close proximity to major retailers such as the Galleria at Sunset, Costco, Target, Super-Walmart, Home Depot, Lowes, and the Sunset Station Hotel and Casino. This prime location attracts a local and regional customer base, enhancing the center’s draw and foot traffic.
• Dense Las Vegas Submarket Demographics - The surrounding area boasts a dense population, with 151,561 residents within a three (3)-mile radius and an average household income exceeding $99,143. The population is projected to grow at an annual rate of 0.82% over the next five (5) years, further enhancing the center’s customer base and long-term viability.
• High Barriers to Entry - Crossroads at Sunset is located within a densely populated infill trade area with limited land available for future development. This scarcity of available land and lack of current inventory for lease create high barriers to entry, protecting the center from new competition and ensuring its continued success.

Description:

CBRE is pleased to offer for sale, Crossroads at Sunset – a ±40,000 square foot shopping center located in Henderson, NV. The center is leased to a complimentary mix of national and regional tenants, including Golden Corral, Barbeques Galore, and Hallmark. The center is shadow- anchored by Las Vegas’ dominant Hispanic grocer - Mariana’s = Supermarket – as well as EoS Fitness, Starbucks, Wells Fargo, and Texas Roadhouse. The offering is 100% occupied with a weighted-average lease term remaining of over seven (7) years, providing secure cash flow. All tenants are on triple-net leases, paying their full share of common area maintenance expenses, property taxes, insurance, and = management fees. It is located at a high traffic intersection, close to major retailers, and in a densely populated area with strong growth projections. The center is a stable investment with increasing returns and high barriers to entry due to limited available land for future development.

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