Avison Young has completed the $6.6 million sale of an 18,000-square-foot retail property in Las Vegas to Syndicate MMA, which has been a tenant since 2019, highlighting the increasing desirability of owner-user retail assets in the region.

Information on the Target

Avison Young has successfully facilitated the sale of a retail property situated at 6315 South Rainbow Boulevard in Las Vegas for $6.6 million. This multi-tenant retail building spans approximately 18,000 square feet and is currently occupied by Syndicate MMA, a mixed martial arts gym that has been a tenant since 2019. Alongside the gym, the remaining space of the property accommodates a salon and a medical practice.

The seller, a Las Vegas-based private trust, continues to own six additional buildings within the Rainbow Sunset Pavilion complex. This space is located in a sought-after retail submarket, characterized by increased demand and favorable conditions for owner-user retail assets.

Industry Overview in Las Vegas

The retail sector in Las Vegas has shown resilience and growth, particularly since the economic recovery post-pandemic. As a city known for its tourism and entertainment, the retail market benefits from a steady flow of visitors as well