{"id":1004168067,"date":"2017-03-02T07:42:07","date_gmt":"2017-03-02T15:42:07","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004168067"},"modified":"2022-12-06T22:32:51","modified_gmt":"2022-12-07T06:32:51","slug":"las-vegas-shopping-center-sells-for-17-5m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/las-vegas-shopping-center-sells-for-17-5m\/","title":{"rendered":"Las Vegas Shopping Center Sells for $17.5M"},"content":{"rendered":"<p>By Evelina Croitoru<\/p>\n<div id=\"attachment_1004168070\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/David-Nagel.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004168070\" data-attachment-id=\"1004168070\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/las-vegas-shopping-center-sells-for-17-5m\/david-nagel\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/David-Nagel.jpg\" data-orig-size=\"300,300\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"David Nagel\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/David-Nagel.jpg?w=300\" class=\"wp-image-1004168070 size-full\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/David-Nagel.jpg\" alt=\"David Nagel, CEO &amp; president of Decron Properties Corp.\" width=\"300\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/David-Nagel.jpg 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/David-Nagel.jpg?resize=150,150 150w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004168070\" class=\"wp-caption-text\">David Nagel, CEO &amp; president of Decron Properties Corp.<\/p><\/div>\n<p><strong>Las Vegas<\/strong>\u2014Decron Properties Corp., a Los Angeles-based real estate company specializing in the acquisition, development and management of multifamily, retail and office properties, has announced the sale of Flamingo Maryland Shopping Center. The property\u2013 located near the Las Vegas Strip\u2013traded for $17.5 million.<\/p>\n<p>The disposition of the Target-anchored retail center is part of the company\u2019s strategy to downsize its commercial portfolio, opting in favor of multifamily assets, to achieve higher rental income growth. In the past year, Decron has sold six office and retail properties, fetching more than a combined $300 million. The company has used disposition proceeds and newly raised capital to acquire seven multifamily communities, totaling 1,630 units, for roughly $500 million.<\/p>\n<p>\u201cThe last two years have been the most active in Decron\u2019s 60-year history from a transactional standpoint. Completing almost $800 million in capital transactions has right-sized our portfolio. Previously, 40 percent of our assets were in the office or retail sector. With technology and e-commerce disrupting how we \u2018work and shop,\u2019 we committed to our investors that we would reduce our commercial exposure and emphasize more investments into the multifamily sector.\u00a0 During the Great Recession we saw tremendous volatility in our commercial portfolio but very little in our residential portfolio. Successfully executing this strategy puts us in a more stable position to continue to grow for the next 60 years,\u201d Decron&#8217;s CEO &amp; President David Nagel, said in prepared remarks.<\/p>\n<p><em>Image via LinkedIn<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Decron Properties is slimming its commercial portfolio in favor of multifamily assets.<\/p>\n","protected":false},"author":1055,"featured_media":1004168070,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1593,21742,21749,15],"tags":[34222,34220,34221],"class_list":["post-1004168067","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-las-vegas","category-latest","category-retail","category-west","tag-david-nagel","tag-decron-properties-corporation","tag-las-vegas-strip"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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