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Lucescu Realty
Mark Lucescu
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LUCESCU REALTY Announces Sale of Anthem Highlands Shopping Center in Las Vegas, Nevada |
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LUCESCU REALTY represented Regency Centers in the sale of Anthem Highlands Shopping Center in Las Vegas, Nev. The property is a neighborhood shopping center and anchored by Albertsons and CVS/pharmacy and includes Bank of America, Wells Fargo Bank, Pizza Hut, Starbucks and Subway. The buyer was Excel Trust. |
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\25 Press Releases\
December 03, 2011 - NEWPORT BEACH, CALIF. - Mark Lucescu, President of LUCESCU REALTY, announced today the closing of Anthem Highlands Shopping Center in Las Vegas, Nevada. The property is a neighborhood shopping center, anchored by Albertsons grocery store and CVS/pharmacy and totals approximately 118,763 square feet. Albertsons and CVS occupy approximately 58% of the gross leasable area. The blue-chip tenant roster also includes Bank of America, Wells Fargo Bank, Pizza Hut, Starbucks and Subway.
LUCESCU REALTY exclusively represented the interests of the seller, Regency Centers, a publicly-traded real estate investment trust, headquartered in Jacksonville, Fla., and procured the buyer, Excel Trust, located in San Diego, Calif. Excel, also a publicly-traded real estate investment trust, made its first acquisition in the Valley.
"It was a rare Principal-to-Principal transaction," according to Frank Marretti, Managing Director of Lucescu Realty's Las Vegas office. "This sale shows the local market is continuing to rebound," Marretti further commented.
"In addition to a national company like Excel being the buyer, a further testament to the market's rebound was that 18 offers were received during the marketing period," said Lucescu. "Due to the strong investor demand the only buyers invited to bid in the second round were 'All Cash' investors that did not require third-party fi...
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