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Rainbow Promenade
Stabilized Power Center with Strong Sales

Location, Visibility, Access

  • The property is located in a densely populated submarket of northwest Las Vegas on the border of Summerlin
  • Nearly 4,000 feet of combined frontage along the US-95 freeway and North Rainbow Blvd provide priceless signage and branding opportunities for tenants
  • Direct highway on/off ramp access to the site

Secure Long-Term Cash Flow

  • With more than 20 tenants and an average remaining lease term of greater than seven years, the Property offers immediate, secure, long-term cash flow
  • Strong historical sales, lean health ratios, and recent renewals from multiple anchor tenants demonstrate the long-term viability of the site

Ideal Tenant Mix

  • Diverse tenant roster including restaurants, business services, personal services, daily necessities, and experience-based entertainment
  • Over 80% of the center is leased to national or regional credit retailers

Robust Submarket Fundamentals

  • The northwest Las Vegas submarket historically and currently outperforms the greater Las Vegas retail market with higher asking rents and lower vacancy 
  • There is only one box space (>30,000 SF) available within the submarket and minimal threat of new supply
     

NKF Capital Markets and RealINSIGHT Marketplace are pleased to present the opportunity to acquire Rainbow Promenade, a 228,279 square foot retail power center located in Las Vegas, Nevada. The Property is situated along the US-95 freeway in an affluent area of northwest Las Vegas with nearly 2,000 feet of priceless highway frontage and visibility.  The offering presents a compelling opportunity to acquire a well-located, high-performing, stabilized shopping center with recent capital improvements and more than seven years of average remaining lease term in the booming Las Vegas market.

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All investors interested in engaging Newmark Knight Frank (“NKF”) and CW Capital Markets (“CW”) to assist with arranging financing for the Property should contact Mark Schuessler via email (mark.schuessler@ngkf.com) or by phone at (310) 201-2075.

NKF will be available throughout the marketing process to provide preliminary debt quotes and guidance to all investors that would like to exclusively engage NKF and CW to assist them with debt placement.

 

Benefits of engaging NKF and CW include:

  • Real time debt quotes prior to auction so that investors can more accurately model levered returns
  • Established relationships with a variety of lenders to get you the most competitive terms and reliable execution
  • Lender access to the Property post contract execution to conduct necessary due diligence in order to close with financing in-place

All investors must engage NKF prior to the auction start date in order to take advantage of the benefits mentioned above.

 

Newmark Knight Frank Debt/Structured Finance

As a global real estate company delivering products and services that lead to enhanced investment performance, Newmark Knight Frank is well positioned to combine capital market expertise with extensive hands-on commercial real estate experience. Newmark Knight Frank specializes in arranging equity and debt for most types of commercial and residential real estate including land, condominium conversions, subdivisions, office, retail, industrial, multifamily, hotels and special use.

By providing access to both equity and debt markets, we are able to offer structuring alternatives to address rapidly changing markets, create the optimal capital structure, access the appropriate capital, and enhance the value of complex transactions. Selecting debt, equity and mezzanine capital can represent the most critical and difficult component of any real estate transaction and requires seasoned professionals with proven track records of success.

Our expertise includes the following types of structured finance transactions involving construction, renovation or asset repositioning:

  • Permanent Loans
  • Term Loans
  • Construction Loans
  • Bridge Loans
  • Note Sales and Note Financing
  • Joint Venture Equity
  • Preferred Equity
  • Mezzanine Debt
  • Recapitalization / Sale of Partnership Interest
  • Credit Facilities

To accomplish your structured finance objectives, Newmark Knight Frank maintains close relationships with a comprehensive group of capital providers including traditional lenders as well as emerging sources of capital covering the entire risk spectrum:

  • Insurance Companies
  • Domestic and Global Banks
  • Credit Unions
  • Capital and Credit Companies
  • Investment Banks
  • Pension Funds
  • Mezzanine Funds
  • Hedge Funds
  • Opportunity Funds
  • REITs

Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

Rainbow Promenade

2051, 2341, 2351 N Rainbow Boulevard, Las Vegas, NV 89108

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Current Bid:
Starting Bid:

Asset Snapshot

  • Asset Type
  • Real Estate
  •  
  • Retail Type
  • Power Center
  • Anchor
  • Yes
  • Anchor Tenant(s)
  • AMC Theater, Dollar Tree, Cost Plus, Barnes & Noble Books, Hobby Lobby
  • Property Size
  • 228,279 Sq Ft
  • Land Area
  • 21.11 Acres
  • Year Built
  • 1997
  • Number of Floors
  • 1
  • Parking Count
  • 1,339
  • Occupancy
  • 98.00%
  • Occupancy as of
  • Sep 01, 2018
  • Platform Fee

    Platform fee for this transaction is 5.00% or a minimum of $25,000.

  • Auctioneer

    1. Shane P. Jacob

      c/o Fisher Auction Company Inc.

      License: #NV20141327564; P63-000561