Fiesta Plaza, a 200,000-square-foot grocery-anchored retail shopping center in North Las Vegas, has welcomed a new Ross Dress for Less. With this newest retailer, opening on March 6, 2018, Fiesta Plaza is now 80 percent occupied with three major anchors, according to property owner Agora Realty.
Agora Realty acquired Fiesta Plaza in mid-2016 at 55 percent occupied with no anchors. Since that time, the firm has successfully leased more than 133,000 square feet of space, expanding La Bonita Supermarket as well as adding Conn’s HomePlus and Ross Dress for Less. Agora also completed an exterior façade renovation, parking lot renovation and upgraded core utilities to the site, investing $20 million to renovate and reposition the property.
“Solid relationships with the City of North Las Vegas Economic Development Department and Mayor, the support of NV Energy and strong ties with the brokerage community are an important part of the success of the center and our ability to ensure an aggressive construction schedule to complete the Ross store,” said Cary Lefton, CEO, Agora Realty. “Many of our tenant build outs were under tight construction schedules. The City of North Las Vegas and its building department expedited permits, assisted in facilitating utility upgrades and were very creative in solving traditional problems when renovating an older infill commercial site.”
Ross Dress for Less now occupies a 25,000 square foot space in the center located at 2201 Civic Center Drive. The downtown area is a designated redevelopment corridor for the City.
“The City is growing quickly and this area has been ripe for repositioning. Fiesta Plaza is a catalyst in that effort and we are excited to welcome Ross Dress for Less,” said North Las Vegas Mayor John Lee. ”I think much of what we are seeing is due to how easy we’ve made the building process and how quickly we get permits and licensing through the system. Responsiveness matters to the developers and tenants who are choosing to invest in our City.”
In addition to the support of the City, Agora Realty cites the support of NV Energy to how quickly they were able to expedite the upgraded power to meet Ross’s power requirements for a state of the art retail store.
“Power is an integral part of any development. In this case, the City and Agora needed NV Energy to work quickly so that the site was ready for Ross. Our design and construction team worked with everyone to ensure the electric infrastructure was there when it was needed,” said Michelle Lindsay, Economic Development Executive, NV Energy.
According to Agora, retailers such as Ross validate trade areas and make this area a prime destination for the City and its residents. “With Ross in Fiesta Plaza, we now have effective synergies between our anchor tenants and more importantly these expanding and popular brands create a busy retail center,” added Lefton.
Fiesta Plaza is now occupied by Ross Dress for Less (25,000 square feet), Conn’s HomePLus (52,000 square feet) and La Bonita Grocery (55,000 square feet) along with national tenants that include: US Bank, El Pollo Loco, H&R Block, All State Insurance, Metro PCS, and Unidos Financial Services.
Agora Realty owns a 1.3-million-square-foot real estate portfolio that includes a mix of properties in Hawaii, Nevada, and California. For more information, contact Agora’s corporate office at (818) 985-7100.
Agora Realty & Management, Inc. is a leading West Coast full-service real estate development firm headquartered in Sherman Oaks, California. Founded in 1986, the company has an impressive track record for its comprehensive in-house expertise, team-centric culture, strong partnerships and exceptional ability to bring together the right people with the right properties. Real estate holdings and projects include shopping centers, business parks, mixed-use retail, office buildings and residential condominiums, as well as both single- and multi-family dwellings. More information is at www.agoraproperty.com.