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Best in the West in Las Vegas Sells for $87M

Vestar Acquires 465,000-SF Retail Center
February 21, 2018
Vestar acquired the 464,917-square-foot Best in the West power center in Las Vegas from Weingarten Realty Investors for $87 million, or approximately $187 per square foot.

The Best in the West retail center at 2000-2192 N. Rainbow Blvd. is anchored by Bed Bath & Beyond, Best Buy, Old Navy, Jo-Ann Fabrics and Crafts and DSW. Other tenants at the 94 percent leased retail complex include Men’s Warehouse, Office Depot, TJ Maxx and Stein Mart, which signed a 30,896-square-foot lease in August 2013.

Vestar is a privately-held investment company specializing in the acquisition, management and development of commercial properties. It operates more than 28 million square feet of retail space throughout the western U.S.

The Molasky Group of Cos. Developed Best in the West in 1996. The power center encompasses more than 36 acres along Interstate 95 at the intersection of Rainbow Blvd. and Lake Mead Blvd.

Bryan Ley, John Crump and Jules Sherwood at HFF represented the seller, which acquired Best in the West in April 2005 for $78.6 million.

Please refer to CoStar COMPS #4136948 for more information on this transaction.
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