$100M Vegas-Area Office-to-Retail Project Breaks Ground
Three new tenants have also joined the lineup.
VAC Development has broken ground on The Cliff, a $100 million office-to-retail project in the Green Valley Ranch section of Henderson, Nev.
In August, a joint venture led by VAC Development acquired and recapitalized the project, which will transform a 10-acre, 100,000-square-foot, two-building office property into an open-air retail, dining and entertainment destination.
Delivery to tenants is targeted for the second quarter of 2027.
CAST Capital Partners acquired the office property in 2023 for $17.2 million. Located in the 1,310-acre Green Valley Ranch master-planned community, the Henderson site is about 16 miles southeast of Las Vegas.
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Under the new ownership structure, VAC is leading development alongside CAST Capital to move the project forward. The 100,000-square-foot development is taking shape at 2500-2550 Paseo Verde Parkway and will transform underutilized office space into a walkable campus of retail, restaurants, wellness, fitness, entertainment and experiential concepts.
The Cliff’s entertainment component is backed by entitlements approved by the Henderson City Council in June 2025, which established a dedicated “Cliff Master Plan” subcategory within the Green Valley Ranch master plan. The approvals give the development greater flexibility to host recurring events and programming such as car shows, seasonal markets and arts & crafts fairs. It will also enable The Cliff to provide live entertainment including bands, DJs, comedy and karaoke.
AO Architects is designing The Cliff. Plans call for a central bar and outdoor lounge, covered patios, a food kiosk alley and a children’s open-concept play area. There will also be dedicated spaces for outdoor gatherings and entertainment.
Tenants taking on The Cliff
Three new tenants, including the first fitness concepts, have joined the growing lineup at The Cliff. Pvolve is leasing 1,735 square feet for a fitness studio that will combine resistance equipment with a longevity-focused workout.
The second fitness tenant is BODYROK, which is taking 2,502 square feet for its Pilates-inspired boutique fitness studio. It will offer a high-intensity, low-impact workout format that blends elements of Pilates with strength training using the BODYROK reformer.
Visual Comfort & Co. is leasing 3,161 square feet for a home lighting retail center. The store will offer whole home lighting solutions, including decorative, architectural, ceiling fans, landscape, integrated controls and shading.
The largest tenant to date is anchor Arhaus, a luxury furniture and home décor retailer that is leasing 16,420 square feet. Other previously announced tenants include The Taco Stand, leasing 1,783 square feet; Lyte House, taking 1,744 square feet; The Barista Botanist, leasing 1,523 square feet; and Killer Whale Creamery, which is leasing 1,045 square feet.
Steve Neiger, manager broker at CAST Capital Partners, said in prepared remarks the team is in lease negotiations with several cult-favorite apparel brands. He also noted they are having conversations with direct-to-consumer brands about opening brick-and-mortar locations at The Cliff.
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