Premier shopping center near Las Vegas Strip trades for $46.35M

ORANGE COUNTY, Calif., Aug. 6, 2025 – JLL Capital Markets announced today that it has completed the $46.35 million sale of Paradise Esplanade, a high-performing entertainment and vibrant neighborhood center strategically located adjacent to the world-famous Las Vegas Strip.

JLL worked on behalf of the private seller. The buyer was a private family office based in Los Angeles, California.

Paradise Esplanade is ideally positioned at 4480 Paradise Rd., at the intersection of Paradise Rd. and the Harmon Corridor in Las Vegas. This prime location offers exceptional visibility and exposure to over 98,000 vehicles per day, directly adjacent to the Virgin Hotel and the University of Nevada, Las Vegas (UNLV).

The 58,727-square-foot neighborhood center is 89% leased to a diverse collection of tenants. Paradise Esplanade is anchored by a high-performing CVS Pharmacy that generates over 1.1 million annual visitors which ranks within the top 5% of their chain nationwide. The property features numerous food and beverage establishments that demonstrate exceptional performance, largely driven by the well-travelled location and strong property fundamentals.

JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Managing Director Daniel Tyner and Senior Managing Director Gleb Lvovich.

“Paradise Esplanade represented a unique opportunity to acquire a premier neighborhood center adjacent to the Las Vegas Strip,” said Tyner. "Las Vegas continues to evolve as a premier global entertainment destination, further driving investor demand and value for properties like Paradise Esplanade.”

"California investors continue to actively pursue opportunities in Las Vegas as evidenced by the Paradise Esplanade transaction," said Lvovich. "The property’s prime location between UNLV and the Strip, combined with its high-performing tenant mix, creates strong potential for ongoing performance and future growth at the center."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.