Project Overview

   These 54.29 acres have been owned by Boulder Highway Holding Co. and Boulder Highway \ Gibson Investments since January 1997. The Property is an island surrounded on three sides by Boulder Highway to the East, Galleria to the South, and Gibson to the West & North.  In 2009, this property was hard zoned MC Corridor Mixed Use (see attached zoning guidelines).However we are presently in the process of rezoning this property to CC or Community Commercial. This should be completely by March of 2010 and is being done at the request of our proposed tenants as they feel it will give them the flexibility to design there sites. As many felt the restraints of the present MC zoning did not allow them the design criteria necessary to insure their success. The driving force behind the rezoning is the recent execution of a purchase agreement with Winco Foods for a 94,000 sq ft. Grocery store. Winco Foods is the rising star in the Grocery business in the south west USA and have certainly gotten the attention of the Super Wal-Mart’s of the world as they compete head to head with them and in many areas out perform them. They are based out of Boise Idaho and are 100% employee owned. They are presently averaging 60 million per year per store which allow them to completely turn their inventory in a week’s time assuring fresh produce and inventory.  They are completely raising the level of the bar in the Grocery business and are planning three additional stores to this Market. We are extremely excited to have them as our anchor tenant as many businesses like to be next to them as they bring a heavy volume of customers to the center. As has been evidenced by the recent LOIs from Burger King Chase Bank and CVS Pharmacy. We are also presently in negotiations with several other National and local tenants.  

   Since 1997, we have invested millions of dollars into this project, importing 1.2 million cubic yards of fill and employed the services of Geotech to insure that our controlled fill was done correctly. We have also spent substantial money with VTN Engineers employing their services in the designing on off and on site utilities, Traffic studies, drainage studies, ALTA survey Parcel maps and have just recently filed for a commercial subdivision map. We have also attracted attention recently with the new opening of the Galleria & 515 interchange. This interchange will make this project easily accessible to the Galleria Mall, which is just 1300+ feet to the west. And will be a major roadway to Provenance, Tuscany and Lakes Las Vegas.  We are in the process of acquiring and corner of Boulder Highway and Gibson from the City of Henderson.

  An updated appraisal was completed on August 13 2009. Steven Randall MAI, of Criterion Appraisers appraised the property for $34,080,000.00. The existing debt that is on the property is 7.6 million dollars; this is private money loan.  3.6 million is secured by the 30+/- acres of retail fronting Boulder Highway.
The remaining 4.0 million is secured by the 24.50 acres of multi family/commercial.

   We are presently seeking an investor for the infusion of new money in the amount of $10,000,000.00 this money would be used to retire the existing debt. We would hope that this investor would have retail development experience as most of the owners of this LLC are passive investors and are developing out of necessity not desire.  We would proposed to form a new Nevada Limited Liability Company and transfer 50% ownership of the entire property for these funds.  And then close on our existing pad sales to recapture our investments and to position ourselves to wait for Winco Foods to open which will maximize our return.

...Boulder Highway commercial  Land looking for 50% partnership Brochure  20 mb pdf file....