January 21, 2025 – We are pleased to announce the acquisition of The Shops at Grand Canyon Parkway, a 64,649 square foot, five-building Essential Service Retail (ESR) shopping center in the affluent Summerlin submarket of Las Vegas, NV. The Property is in an established retail node immediately west of the intersection of Highway 215 and Flamingo Road. The shops are surrounded by the fourth ranked Target by foot traffic in the state of Nevada. The Center experiences approximately 41,500 VPD and boasts a 3-mile population of approximately 156,000 with an average household income of more than $120,000.
The Shops at Grand Canyon Parkway is currently 97% occupied by national tenants Mattress Firm, Batteries Plus, Vitamin Shoppe, and Coffee Bean & Tea Leaf in addition to several long-term local tenants. The transaction is CenterSquare’s 53rd ESR acquisition nationally and fifth shopping center in the Las Vegas MSA. This investment aligns with our strategy to target unanchored, high-quality Essential Service Retail centers in strong demographic submarkets.
