We are pleased to announce the acquisition of Tropicana Centre, It has the unique feature of three essential anchors: a 134,000-square-foot Sam’s Club and a 120,000-square-foot Walmart, which have been tenants since 1991; and a 40,000-square-foot Sprouts Farmer’s Market. One of the nation’s top natural organic retailers with more than 340 stores across 23 states, Sprouts plans to invest $1 million into upgrading its location at the center. The property’s tenant roster also includes Ace Hardware, Ross, Conn’s HomePlus, Big 5 Sporting Goods, Dollar Tree, Rainbow and McDonald’s. The remaining 26,000 square feet of available space provide meaningful upside potential by way of increased occupancy and cash flow.
“Las Vegas has experienced tremendous population growth fueled by cheaper costs of living, lower taxes, and newly built homes – solidifying its position as one of the fastest growing cities in the U.S.,” said Stephen Joseph, director of acquisitions. “FNRP was attracted by Tropicana Centre’s infill location, below market rents and investment grade tenant roster, which provide a one-stop shopping destination to customers in a market that is expected to see continued growth over the next five years.”
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