HFF closes $8.42 million sale of Las Vegas Sprouts Farmers Market store
NEWPORT BEACH, CA – June 23, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $8.42 million sale of a single-tenant, 57,794-square-foot building fully leased to Sprouts Farmers Market in Las Vegas, Nevada.
HFF marketed the property on behalf of the seller, Haggen Property Holdings, LLC. ValueRock Realty Partners out of Irvine, California, purchased the asset. This is now the second Sprouts location owned by ValueRock.
Situated on 7.14 acres at 7530 West Lake Mead Boulevard, the location provides easy access to Interstate 95 and is set between the affluent Summerlin community and the Las Vegas Strip. The property benefits from a dense population of more than 410,000 residents within a five-mile radius and it has frontage along Lake Meade Boulevard, which sees approximately 39,805 vehicles per day.
The HFF investment sales team representing the seller was led by Nick Foster in conjunction with local Nevada broker David Zacharia of DZ Net Lease Realty, LLC.
“This was an exceptional opportunity to own an extremely well-located retail property leased to one of the nation’s top-performing grocery operators on a long-term basis,” Foster said.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.