{"id":1004110436,"date":"2015-01-05T08:47:16","date_gmt":"2015-01-05T16:47:16","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=315134"},"modified":"2022-03-03T17:15:08","modified_gmt":"2022-03-04T01:15:08","slug":"kite-realty-group-buys-summerlins-rampart-commons-in-32-million-deal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/kite-realty-group-buys-summerlins-rampart-commons-in-32-million-deal\/","title":{"rendered":"Kite Realty Group Buys Summerlin\u2019s Rampart Commons in $32 Million Deal"},"content":{"rendered":"

By Alex Girda, Associate Editor<\/em><\/p>\n

Las Vegas generated a substantial increase in attention during the second half of 2014 as investors dialed into opportunities throughout the market. Kite Realty Group Trust recently completed the $32.3 million acquisition of Rampart Commons in the Summerlin submarket, which is enjoying robust development and investment. The price of the sale to the Indianapolis-based company included $12.3 million of assumed debt.<\/p>\n

Rampart Commons is located at the northwest corner of North Rampart Boulevard and West Charleston Boulevard, in an area that features a population of roughly 103,000 and an average household income of $110,756. The shopping center\u2019s tenant roster includes such national retailers and restaurants as Williams-Sonoma, P.F Chang\u2019s, Ann Taylor, Talbots, Chico\u2019s and Pottery Barn. At the time of the transaction, the asset was fully occupied. Whole Foods and Target stores at the intersection serve as shadow anchors for Rampart Commons.<\/p>\n

The recently completed development of Downtown Summerlin, as well as a large number of housing that are currently in development at the master-planned community, have raised Summerlin\u2019s profile. Kite Realty Group\u2019s chairman & CEO, John Kite, cited the acquisition of Rampart Commons as \u201cthe direct result of our regional approach and, importantly, illustrates the positive impact our larger national presence has on our ability to source opportunistic, off-market acquisitions.\u201d<\/p>\n

For more Las Vegas area market data, click here<\/a>.<\/p>\n

 <\/p>\n

\n","protected":false},"excerpt":{"rendered":"

The second half of the year meant a substantial increase in the amount of attention the Las Vegas commercial real estate market has seen, with investors dialing in on opportunities throughout the market. Kite Realty Group Trust recently completed the acquisition of Rampart Commons in the city’s Summerlin submarket, an area of the Las Vegas Valley that is seeing development and interest reach an all-time high. The Indianapolis-based company paid a total of $32.3 million for the asset, including $12.3 million of assumed debt.<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1593,21742],"tags":[],"class_list":["post-1004110436","post","type-post","status-publish","format-standard","hentry","category-las-vegas","category-latest"],"acf":[],"yoast_head":"\nKite Realty Group Buys Summerlin\u2019s Rampart Commons in $32 Million Deal - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/kite-realty-group-buys-summerlins-rampart-commons-in-32-million-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kite Realty Group Buys Summerlin\u2019s Rampart Commons in $32 Million Deal\" \/>\n<meta property=\"og:description\" content=\"The second half of the year meant a substantial increase in the amount of attention the Las Vegas commercial real estate market has seen, with investors dialing in on opportunities throughout the market. 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