Summerlin shopping center sells for $56M

The 10.3-acre Vista Commons grocery-anchored retail center in Summerlin has sold to a Boston-based company for $56.1 million, according to Clark County property records.

JLL Capital Markets, a Las Vegas-based commercial real estate company who represented the seller, Chicago-based Vista Commons LLC, declined to confirm the sale price of the transaction in a reply to the Las Vegas Review-Journal.

The buyer of the property is Boston-based international real estate investment firm AEW Capital Management.

The Albertson-anchored retail center is 98,716 square feet and is along West Charleston Boulevard and the corner of Desert Foothills Drive.

In a press release for the sale, JLL Capital Markets said the shopping center gets approximately 4.5 million visitors annually and is currently fully leased.

In July, it was reported that more than a dozen Nevada Albertsons may be sold if the company’s sale to supermarket giant Kroger is approved pending court cases related to the merger.

Fort Apache Whole Foods Market said in October it intends to relocate the operations of the store to a retail center that is being constructed in Summerlin, a 7.4-acre outdoor retail and entertainment center. The grocery chain said this store won’t be a new one but rather a relocation of its Fort Apache location at the intersection of West Charleston Boulevard and South Rampart Boulevard.

A previous version of this story incorrectly reported the sale price of the retail center.

Contact Patrick Blennerhassett at pblennerhassett@reviewjournal.com.