Press Releases
Marcus & Millichap Arranges Sale of 23-Suite Retail Strip in La Vista, Nebraska
November 26, 2024
LA VISTA, Neb., Nov. 26, 2024 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Val Verde Place Shopping Center, a 23-suite retail strip property in La Vista, Nebraska. The property sold for $6,435,000.
“We received more than a handful of competitive offers on this Property and ultimately selected a buyer who closed at 99% of list price” said Chris Garavaglia, first vice president investments. “The buyer has a great opportunity to add value through lease-up and the seller will be able to recycle their capital closer to home after exceeding their projected returns.”
Garavaglia, Alex Perez and Austin Sweet, investment specialists in Marcus & Millichap’s St. Louis office, had the exclusive listing to market the property on behalf of the seller, a private equity group based on the East Coast, and procured the buyer, a 1031 buyer out of the Midwest. Jon Ruzicka is Marcus & Millichap’s broker of record for Nebraska.
Val Verde Place Shopping Center is located at 9631 Giles Road, receiving visibility from approximately 27,500 vehicles per day. Built in 2000, the 48,712-square-foot property comprises four adjacent strip centers, featuring tenants that offer neighborhood dining, medical services, and daily conveniences. Situated near the Tara Hills Golf Course, the center is directly across from the state’s second-highest-performing Walmart Neighborhood Market and the upcoming $60 million, 264-unit Mayfair Commons apartment complex.
“We received more than a handful of competitive offers on this Property and ultimately selected a buyer who closed at 99% of list price” said Chris Garavaglia, first vice president investments. “The buyer has a great opportunity to add value through lease-up and the seller will be able to recycle their capital closer to home after exceeding their projected returns.”
Garavaglia, Alex Perez and Austin Sweet, investment specialists in Marcus & Millichap’s St. Louis office, had the exclusive listing to market the property on behalf of the seller, a private equity group based on the East Coast, and procured the buyer, a 1031 buyer out of the Midwest. Jon Ruzicka is Marcus & Millichap’s broker of record for Nebraska.
Val Verde Place Shopping Center is located at 9631 Giles Road, receiving visibility from approximately 27,500 vehicles per day. Built in 2000, the 48,712-square-foot property comprises four adjacent strip centers, featuring tenants that offer neighborhood dining, medical services, and daily conveniences. Situated near the Tara Hills Golf Course, the center is directly across from the state’s second-highest-performing Walmart Neighborhood Market and the upcoming $60 million, 264-unit Mayfair Commons apartment complex.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
