Retail Market Heats Up in Las Vegas

Christopher Beavor

The retail market is heating up in Las Vegas. CAI Investments has developed and sold two of the land parcels in its larger 3883 Flamingo Center mixed-use project in Las Vegas, which will include a hotel and apartment units in addition to retail and entertainment. The parcels traded to a Chick-Fil-A and Del Taco at respective cap rates of 3.7% and 4.1%. These yields exceeded the seller’s expectations.

This transaction met and exceeded expectations and it further proves that cap rates are strong in Las Vegas,” Chis Beavor, founder and CEO of CAI Investments, tells GlobeSt.com. “Our strategy to target the average investor and provide an opportunity to buy a trophy asset in a premier location.”