A Southern California real estate firm purchased a retail plaza south of Harry Reid International Airport, following a big increase in shopping-center deals last year.
Brixton Capital acquired Las Palmas Village, on Windmill Lane at Bermuda Road, for $29.4 million. The sale closed last month, property records show.
JLL Capital Markets announced last week that it represented the seller in the deal and that Las Palmas is 95 percent occupied.
It said the plaza spans 106,838 square feet, is anchored by a Vons supermarket, and is a short drive from Las Vegas’ airport.
JLL senior managing director Gleb Lvovich said in the news release that this marked the team’s third retail-center sale in Las Vegas over the past six months and that there is robust investor demand for these kinds of properties.
Last year, Southern Nevada had 39 shopping-center investment sales, totaling $408.6 million in volume, up from 20 sales totaling $151.7 million in 2024, according to market reports from brokerage firm Colliers International.
Still, the increased tally was far below the peak year of 2022, Colliers noted.
All told, there were 70 shopping-center sales that year, totaling more than $1 billion in volume, the firm reported.
With the Las Vegas Valley’s decades-long expansion nowhere close to ending, developers are still building more retail space as well.
In North Las Vegas, for instance, Agora Realty & Management is developing Hylo Park, a sprawling project on the former Texas Station and Fiesta Rancho casino sites. It calls for retail space, athletic facilities, housing and more.
Agora broke ground last year on a roughly 90,000-square-foot retail plaza at Hylo Park, and its tenant lineup includes a Cardenas grocery store.
At the southern edge of the valley, developer Sansone Companies held a ceremonial groundbreaking in February for Centurion, a 24-acre mixed-use project in Henderson’s Inspirada community.
Plans call for 78,756 square feet of retail, including a Sprouts grocery store, and 600 apartment units, according to publicity materials.
Brixton, the new landlord of Las Palmas, is based near San Diego, in Solana Beach, California.
The investment firm focuses on retail and multifamily properties, saying its portfolio spans more than 10 million square feet of commercial real estate across the Western U.S.
Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342.
