Commerce Commons adds supermarket
Las Vegas-based retail developer Territory Inc. has added Britain’s largest retailer as its newest tenant at Commerce Commons, a 180,000-square-foot neighborhood shopping center being built at Commerce Street and Centennial Parkway in North Las Vegas.
Tesco will open a 15,000-square-foot Fresh & Easy Neighborhood Market, smaller than a typical supermarket but designed with easy-to-shop aisles for quick in-and-out access.
The $27 million first phase of Commerce Commons is scheduled for completion early next year. R&O Construction is general contractor.
Fresh & Easy’s store location is easily accessible and will reduce travel time for grocery shoppers in the neighborhood, Territory Chief Executive Officer Terri Sturm said.
Tesco, which operates more than 2,800 stores in 12 countries, plans to open six stores in Las Vegas on Nov. 14 with a few more coming in December, Sturm said.
The company is investing $2 billion to launch Fresh & Easy in the United States over the next five years, starting with 30 stores in Las Vegas, Los Angeles, Phoenix and San Diego by February, creating about 2,500 new jobs. The company’s home office in El Segundo, Calif., has 220 employees.
Commerce Commons is a joint venture between Territory and Epstein Land. The shopping center will include restaurants, video store, hair salon, a bank and other retail businesses.
Territory has developed more than 3 million square feet of retail space in Las Vegas with another 2 million square feet under construction. Its flagship property is the 1 million-square-foot Centennial Center anchored by Wal-Mart, Sam’s Club and Home Depot in northwest Las Vegas. Sturm said Tesco also signed a lease for a Fresh & Easy store at Centennial Gateway.
Territory recently moved its corporate headquarters to 5785 Centennial Center Blvd., Suite 230, in the 350,000-square-foot Centennial Gateway shopping center.
ALLURE FINISHED: The 41-story Allure high-rise condominiums on Sahara Avenue, a block west of the Strip, is preparing for final escrow closings. Residents are expected to begin moving into their luxury units in October.
The $150 million, 428-unit project is a joint venture between Chicago-based Fifield Cos. and Andrew Fonfa investment company. Bovis Lend Lease is the general contractor.
Floor plans range from 671-square-foot studios to 4,400-square-foot penthouses. Prices start from the mid-$500,000s. Along with premium views of Las Vegas Valley, Allure’s amenities include a large outdoor pool deck with private cabanas, fitness center with locker rooms, media center, conference room, catering kitchen and business center equipped with high-speed Internet computers.
RETAIL CENTER: Rotkin Real Estate Group has broken ground on Cimarron Square, the first retail center in the master-planned Mountain’s Edge community in the southwest Las Vegas Valley.
The $17 million boutique neighborhood shopping center will have nearly 40,000 square feet of retail space. Tenants include Inaka Sushi, Papa John’s Pizza, Nevada State Bank, Star Brite Cleaners, Java Detour, Nail Trix Salon and Pacific Dental Services.
BROKER DEALS: Michael De Lew and Greg Pancirov of Colliers International represented the owners in the sale of 7,134 square feet of industrial space in Promontory Corporate Plaza, 4325 W. Patrick Lane, to Hikmat Salmu and Layla Salmu for $1.34 million.
Jason Simon of Gatski Commercial represented Gloria Liu in the sale of a 7,268-square-foot office building at 8635 S. Eastern Ave. in Las Vegas. The price was $2.38 million.
Mark Musser of Bentley Group represented the sellers, Joseph Le Pire and Phillip Hemler, in the sale of a 4,000-square-foot retail pad at 6032 W. Cheyenne Ave. for Mi$800,000.
MILLION-DOLLAR HOME SALESLuxury Homes of Las Vegas reported the following million-dollar home sales last week:
$4.16 million, 6 bedrooms, 7.5 bath, 9,500 square feet, city views, casita, theater room, elevator, wine cellar, fitness room, negative edge pool, Anthem Country Club.
$1.2 million, 4 bedrooms, 4.5 bath, 4,200 square feet, vaulted ceilings, travertine floors, balcony with Strip, city and mountain views, Green Valley Ranch.
$1.1 million, 4 bedrooms, 3.5 bath, 3,614 square feet, oversized lot, pebble tech pool, spa, waterfall, barbecue, sound system, Anthem Country Club.
$2.23 million, 4 bedrooms, 4.5 bath, 4,213 square feet, breathtaking lake and mountain views, casita, covered patios, Lake Las Vegas.
$1.4 million, 3 bedrooms, 3 bath, 3,000 square feet, golf course views on one-third acre, courtyard entry with fountain, pool and waterfall, Lake Las Vegas.
$1.17 million, 4 bedrooms, 4.5 bath, 3,247 square feet, lake and mountain views, negative edge pool, Lake Las Vegas.
$2.15 million, 4 bedrooms, 4 bath, 4,688 square feet, furnished, golf course views of the seventh and eighth holes, wood beams, Southern Highlands.
$1 million, 2 bedrooms, 2.5 bath, 2,406 square feet, 18th-floor A unit, two balconies with Strip and mountain views, concierge, valet, fitness center, Panorama.
$1.27 million, 5 bedrooms, 5.5 bath, 5,037 square feet, nearly quarter-acre lot, Red Rock Country Club.
$1.75 million, 6 bedrooms, 4.5 bath, 5,000 square feet, remodeled porte cochere, Eagle Hills.
$4.2 million, 5 bedrooms, 6.5 bath, 5,779 square feet.
