(For more retail coverage, click GlobeSt.com/RETAIL.)
LAS VEGAS-The first phase of Rainbow Sunset Pavilion has changedhands for $24.5 million. The 64,000-sf retail center sits on 8.4acres at Rainbow Boulevard and Interstate 215. The new owner isTREC Acquisitions, a subsidiary of locally headquartered TRECInvestment Realty, which recently changed its name fromTranswestern Investment Realty.
Rainbow Sunset Pavilion is a 450,000-sf mixed-use office andretail project on 23 acres. The developer of the $120-millionproject is Las Vegas-based Plise Development Cos. The officecomponent will total 350,000 sf. The retail component will totalapproximately 100,000 sf.
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