Vestar, one of the leading privately held shopping center owners in the western United States, announced today that it has purchased Best in the West, a 465,000 square-foot retail center in Las Vegas, Nevada. The property was acquired from Weingarten Realty Investors. In addition to Best in the West, Vestar owns and operates multiple properties in the Las Vegas area including The District at Green Valley Ranch, a 385,000 square-foot, Whole Foods-anchored lifestyle center in Henderson, and Crossroads Towne Center a 149,000 square-foot center in Las Vegas.
Vestar’s team brings significant experience, leadership and resources to Best in the West. Geared toward quality institutional assets, Vestar operates over 28 million square-feet of premium retail space throughout the western United States.
“Best in the West is a trade area dominant center with premier tenants and unsurpassed exposure that is strategically located in the growing Las Vegas market,” said Clint Marchuk, Vestar’s Vice President of Acquisitions. “This acquisition further solidifies our commitment to the area, and we are confident that our strategic leasing and management services will enhance the experience for both the customer and the community as a whole.”
Best in the West is ideally located along Interstate 95 at the intersection of Rainbow Boulevard and Lake Mead Boulevard. The 36-acre center is currently 94 percent leased and is anchored by Best Buy, TJ Maxx, Stein Mart, PetSmart, DSW, Bed, Bath & Beyond, Jo Ann Fabrics, Office Depot, Ulta, Old Navy and Marshalls (opening soon).
HFF’s Bryan Ley and Jules Sherwood represented the seller in the transaction.
