A California real estate firm has purchased a Las Vegas strip mall for more than $16 million in its latest acquisition in the valley.
Agora Realty & Management announced Tuesday that it acquired Bonanza Eastern Plaza, a fully occupied retail center that spans just over 71,000 square feet, for $16.1 million.
The plaza, at the southeast corner of Eastern Avenue and Bonanza Road, features such tenants as Mariana’s supermarket, dd’s Discounts, Sushiro and Boca Dental and Braces.
The property is slated to get exterior and parking lot upgrades and the “installation of professional management,” a news release said.
Agora Realty, based in Sherman Oaks, California, said it has more than 500,000 square feet of retail space in the Las Vegas area, with five ground-up projects in various phases of development totaling more than 105,000 square feet.