Las Vegas — Vestar, a Phoenix-based privately held shopping center owner and manager, will provide comprehensive management services for Vista Commons, a 100,000-square-foot grocery-anchored shopping center located in the West Summerlin area of Las Vegas. Vestar, which will offer property management as well as construction management, will manage Vista Commons on behalf of an institutional client, for whom it manages nearly 3.5 million square feet.
Vista Commons is 100% occupied with a diverse mix of tenants including Albertsons, Wells Fargo, State Farm, Subway, Bank of America and Dunkin Donuts. The Vista Commons sale was represented by JLL.
“We are thrilled to be selected for the management of Vista Commons, and to expand our footprint in the thriving Las Vegas market,” says Patrick McGinley, president of management services at Vestar. “Vista Commons is a well-established center with a strong tenant mix and we look forward to maximizing the value of this property with our management expertise.”
Vista Commons marks the fifth property in the Las Vegas market under Vestar’s management, joining lifestyle centers The District at Green Valley Ranch and Tivoli Village, in addition to Best in the West and Silverado Ranch Plaza. In total, Vestar now manages over 1.8 million square feet of retail space in the greater Las Vegas area.
With 35 years of experience in the retail real estate industry, Vestar has built a reputation for delivering long term value to the properties it manages. The company specializes in leasing, property management and construction services.
Founded in 1989, Vestar currently owns and operates nearly 30 million square feet of space in the western United States with an additional 1.2 million square feet in development. For more information, visit www.vestar.com.
SOURCE: Vestar