Overview
Bernardo Springs is a 24,336 SF inline strip center with a value add component. At acquisition, the property was 76% occupied. The property was built in 1994 and had become outdated with a hands off owner. VAC purchased the asset at an attractive basis and is currently completing a facade lift and landscape replacement, among other improvements. VAC has already renewed several tenants up to market rates with a 20-30% increase over in place rents. With the property improvements nearing completion, VAC will move to lease out the remaining vacancies and start a disposition process by the end of 2026.
Before & After
Before
After
Gallery
Project Details
- Status
- Current Asset in Las Vegas, Nevada
- Type
- Value Add Acquisition
- Location
- Las Vegas, NV
- Size
- 24,336 SF
- Year Built
- 1994
- Occupancy at Acquisition
- 76%
- Rent Increases
- 20-30% above in-place
- Projected Disposition
- End of 2026