Avison Young announces $8 million acquisition of 6.9 acre site slated for retail redevelopment

Las Vegas, NV – Global real estate advisory firm, Avison Young, has completed the $8 million acquisition of a 6.9-acre site located at 4701 West Sahara Avenue in Las Vegas, approximately three miles from the Las Vegas Strip. The new ownership has plans for a retail development project.

Avison Young Principals Chris Lexis, James Griffis and Joe Leavitt who are based in the Las Vegas office represented the buyer, CCC, LLC. The seller was Desert Dodge, Inc.

The site was formerly used as an auto dealership and currently has three buildings totaling just under 30,000 square feet. The new ownership plans to utilize a portion of the property and buildings. Approximately 2.5 acres along the Sahara Avenue frontage are planned to accommodate three retail pads that will be available for lease or ground lease.

The retail pads are suited for a wide variety of uses including daily-needs retailers, medical services, and fast-casual dining concepts, among others, and are well-positioned along the Sahara Avenue commercial corridor, with proximity to dense residential neighborhoods and established retail centers.

“Las Vegas continues to be one of the nation’s most resilient retail markets, and retail demand here continues to outperform national trends, driven by population growth, tourism, and the city’s expanding suburban communities,” said Lexis. “Consumers are looking for convenience, accessibility, and a diverse mix of retail options and this location checks those boxes.”