Asking Price
Area Size
NOI Net Operating Income
NIY

Documents

Enter the "Deal room" for exclusive documents related to this property.

The Deal Room features confidential documents related to this property. To access the Deal Room, you will need to be logged in. If you don't have an account, please create one. More questions? Visit our FAQ.
I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2007
Building Area Gross
Land Area Gross ()
Occupancy 100.0 %

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the fee-simple interest in the single-tenant retail out parcel located at 7005 N Durango Drive in Las Vegas, Nevada (the “Property” or “Asset”). The 3,147 SF Property is 100% leased to U.S. Bank National Association (“the Tenant”). The Property is subject to a double-net lease featuring approximately 4.5 years of lease term remaining with an attractive 4.35% rental increase in 2023 and two, five-year options remaining.


The Property is ideally situated just 14-miles northwest of the Las Vegas Strip at the intersection of N Durango Road and Dorrell Lane, a highly trafficked retail thoroughfare with over 33,000 vehicles per day. The Asset sits on a prime retail outparcel adjacent to the highly trafficked Montecito Marketplace and Centennial Hills Hospital Medical Center. Montecito Marketplace is anchored by Smith’s Food & Drug (1.2M visitors annually) and shadow anchored by TJ Maxx and Dollar Tree. The surrounding retail trade area includes high-quality national tenants including Kohls, Ulta Beauty, Burlington, Pet Smart, Chipotle, Starbucks, Walgreens, Popeyes and more.

Investment Highlights

BEST IN CLASS RETAIL TENANCY


  • Investment grade credit rating (S&P Rating: A+).
  • U.S. Bancorp (Parent Company & Guarantor) has 70,000+ employees and $574 billion in assets as of December 30, 2021.
  • The subject Property U.S. Bank  branch has $100M+ in deposits. 


LONG-TERM OPERATING HISTORY & NEAR-TERM RENTAL INCREASE


  • Tenant has occupied the Asset since it was constructed in 2007 (15+/- years).
  • U.S. Bank has executed two extension options to-date and has two, five-year options remaining.
  • The Property is subject to a 4.35% rent increase in September 2023.


STRATEGIC REAL ESTATE POSITIONING


  • Prime outparcel location adjacent to Montecito Marketplace and the Centennial Hills Hospital Medical Center. The Marketplace is anchored by Smith’s Food & Drug (1.2M visitors annually) and shadow anchored by TJ Maxx and Dollar Tree.
  • Strategically positioned within a main retail corridor at the intersection of Durango Dr. and Dorrell Ln. (33,000 VPD).

Jones Lang LaSalle Brokerage, Inc.

1980 Festival Plaza Dr, Suite 250

Las Vegas, NV 89135

NV Lic. #B.1000836.CORP


Brendan McArthur

#S.188046

Senior Director

212.209.4506

Brendan.McArthur@am.jll.com

Last Updated Date: 11 Aug 2022

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

Last Updated Date: 11 Aug 2022

Do you have any questions?  Visit our FAQ page

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.