Cushman & Wakefield Advises Sale of Las Vegas’ Prestigious Tivoli Village Mixed-Use Project for $216 million

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LAS VEGAS, Nev., April 5, 2022 –  Cushman & Wakefield announced that Tivoli Village, a premier 669,406-square-foot Class A open-air mixed-use project with an additional ±8.29-acre development site located in Las Vegas, Nevada, has sold for $216 million. Cushman & Wakefield’s Marlene Fujita Winkel in Las Vegas represented the joint ownership of Property and Building Corp. (PBC) and IDB Group USA in the disposition sale.

The asset was acquired by 3D Investments LLC, an established real estate investment firm which owns, operates, and develops real estate properties in California, Nevada and throughout the United States. The company is headquartered in Beverly Hills (Los Angeles), California.

Marlene Fujita Winkel said, “Tivoli Village is a highly revered mixed-use project in the Western U.S. and attracted strong buyer interest ranging from institutional to private investors and much of this interest was propelled by the 1031-exhange market. We are thrilled to have successfully completed the sale of this generational asset that also offers outstanding future development opportunity through its one-of-a-kind development parcel.”

Built in 2009 and 2016, Tivoli Village is located at 400 S Rampart Blvd, at the northeast corner of Rampart Blvd and Alta Dr, and comprises Class A office, and luxurious retail and restaurant space across ±28.4 acres. The property includes an ±8.29 Acre development parcel entitled for more than 300 residential units.

The prestigious Mediterranean-themed project is situated nearby Summerlin, an exclusive residential neighborhood in western Las Vegas. The property is surrounded by upscale golf course communities and prominent entertainment venues including hotels and casinos.

According to Cushman & Wakefield research, excluding casino property, this is the highest-valued mixed-use commercial real estate asset sale in Las Vegas since 2017.

Cushman & Wakefield has also been retained to lead the leasing efforts for the retail space.

 

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

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