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Commercial Center sells for $17 million
By Tony Illia
Mark Kaufman recently bought the 45-year-old, 116,267-square-foot Commercial Center at 953 East Sahara Avenue for $16,994,560, or $146 per square foot, from Sahara Plaza LLC and the Ron and Judith McMenemy Living Trust. NAI Horizon’s Ron McMenemy and Jeffrey Boughrum represented the seller.
Situated on 2.71 acres, the one-building retail center is 99 percent leased with such tenants as Q Club, Apollo Spa, Serge’s Wigs and Lotus of Siam restaurant.
The seller bought the building a year ago for $9.5 million, or $81.70 per square foot, from the Hornwood Living Trust. It spent $650,000 upgrading and repositioning the center before re-selling it for a 40 percent profit.
tonyillia@aol.com | 303-5699
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