Brixton Capital Acquires Las Palmas Village Retail Center in Las Vegas for $29.4M
Brixton Capital has completed a $29.4 million acquisition of Las Palmas Village, a 106,838-square-foot grocery-anchored retail center in Las Vegas, Nevada, according to an announcement from JLL Capital Markets. The buyer, headquartered in Solana Beach, California, utilized a 1031 exchange structure to complete the transaction.
Property and Deal Details
Las Palmas Village is located at 415 E. Windmill Ln., positioned behind Las Vegas South Premium Outlets and east of Interstate 15. The property sits approximately five minutes from Harry Reid International Airport. Built in 1997, the retail center currently operates at 95% occupancy and is anchored by Vons. Additional tenants include Taco Bell, Wells Fargo, and UPS. The transaction equates to approximately $275 per square foot. No cap rate or financing terms were disclosed.
JLL Capital Markets Leads the Sale
JLL Capital Markets represented the private seller in the transaction. The Investment and Sales Advisory team was led by Managing Director Daniel Tyner and Senior Managing Director Gleb Lvovich.
"We continue to see California capital seek opportunity in the Las Vegas market, specifically grocery-anchored and daily needs retail centers," said Tyner. "Las Palmas is a great neighborhood shopping center with growth potential which made the offering very attractive to investors."
Lvovich noted the broader momentum in the Las Vegas retail market. "This marks our third retail center sale in Las Vegas over the past six months, reflecting the tremendous momentum we're experiencing in the market. We're seeing robust investor demand across all retail formats, from grocery-anchored centers like Las Palmas Village to strip centers and power centers," he said. "The depth of buyer interest in Las Vegas retail continues to exceed expectations, and we have several additional opportunities coming to market in the coming quarters."
About the Buyer: Brixton Capital
Brixton Capital is a vertically integrated private real estate investment and management firm specializing in retail and multifamily properties across the Western and Southwestern United States. The firm has more than four decades of investment experience and manages a portfolio of approximately $2 billion. Brixton focuses on value creation through acquisitions, strategic leasing, property enhancements, and active asset management, and partners with both private and institutional investors. The firm is also expanding into select Eastern states.
JLL Capital Markets is a global provider of capital solutions for real estate investors and occupiers, with more than 3,000 specialists in nearly 50 countries. The firm's services include investment sales and advisory, debt advisory, mergers and acquisitions, loan sales, equity and fund placement, net lease advisory, and derivative and energy and infrastructure advisory. JLL (NYSE: JLL) reported annual revenue of $26.1 billion as of December 31, 2025, and operates in more than 80 countries with a workforce of more than 113,000.