October 2014
Laughlin Preferred Outlet Mall Sold
The Laughlin mall has a new owner and will soon have a new name:
Priceless Outlets of Las Vegas at Laughlin
Priceless Outlets of Las Vegas at Laughlin, LLC, a member of the Moonbeam Capital Investments group of companies, purchased the mall on October 9, 2014.
Moonbeam Capital Investments is based out of Las Vegas and has already had a track record of successful revitalization of projects similar to the Laughlin mall.
The mall, which has steadily lost stores and generally seems very empty except on weekends. Hopefully, the new owners will attract some fresh, new tenants and even improve the food court and services offered.
No word has been received on when the re-branding and new name will take place.
Below is the official company Press Release announcing the sale:
Laughlin Outlet Center Has a New Owner
Moonbeam Capital Investments
For Immediate Release
Laughlin Outlet Center Has a New Owner
October 9, 2014—Laughlin, Nevada, on the banks of the Colorado River, is one of the most visited casino and resort destinations in the Silver State. Soon, there will be another reason to visit Laughlin.
On October 9, Priceless Outlets of Las Vegas at Laughlin LLC, a member of the Moonbeam Capital Investments group of companies, purchased the Laughlin Outlet Center, located on South Casino Drive across from the Aquarius Casino Resort.
“The Laughlin Outlet Center is in a prime location,” stated Steven Maksin, CEO of Moonbeam Capital Investments, “and has a lot of potential. Moonbeam will be deploying its in house expertise and resources in management, leasing and marketing to assist in turning the property around. We will evaluate the needs of the community, tourists and tenants and develop the right strategy to make this once again one of the main shopping destinations of Las Vegas. To start, we will re-brand the Center as the Priceless Outlets of Las Vegas at Laughlin”.
Las Vegas-based Moonbeam Capital Investments is one of the fastest growing, unleveraged, private equity funds in the country. Moonbeam specializes in acquiring delinquent commercial real estate loans and underperforming assets and focuses on stabilizing and enhancing its properties as long-term investments. Over the last few years, Moonbeam has acquired more than 50 properties totaling over 13 million square feet of gross leasable area, including enclosed malls, shopping centers, office buildings, an apartment building and a hotel.
Moonbeam has already had several notable success stories. At the Greeley Mall in Greeley, Colorado, sales have been trending up every year and are now at a pre-recession high. At Spectrum Plaza near Houston, Texas, physical and economic occupancy increased from 30% to over 87% in the first few months of ownership.
October 9, 2014—Laughlin, Nevada, on the banks of the Colorado River, is one of the most visited casino and resort destinations in the Silver State. Soon, there will be another reason to visit Laughlin.
On October 9, Priceless Outlets of Las Vegas at Laughlin LLC, a member of the Moonbeam Capital Investments group of companies, purchased the Laughlin Outlet Center, located on South Casino Drive across from the Aquarius Casino Resort.
“The Laughlin Outlet Center is in a prime location,” stated Steven Maksin, CEO of Moonbeam Capital Investments, “and has a lot of potential. Moonbeam will be deploying its in house expertise and resources in management, leasing and marketing to assist in turning the property around. We will evaluate the needs of the community, tourists and tenants and develop the right strategy to make this once again one of the main shopping destinations of Las Vegas. To start, we will re-brand the Center as the Priceless Outlets of Las Vegas at Laughlin”.
Las Vegas-based Moonbeam Capital Investments is one of the fastest growing, unleveraged, private equity funds in the country. Moonbeam specializes in acquiring delinquent commercial real estate loans and underperforming assets and focuses on stabilizing and enhancing its properties as long-term investments. Over the last few years, Moonbeam has acquired more than 50 properties totaling over 13 million square feet of gross leasable area, including enclosed malls, shopping centers, office buildings, an apartment building and a hotel.
Moonbeam has already had several notable success stories. At the Greeley Mall in Greeley, Colorado, sales have been trending up every year and are now at a pre-recession high. At Spectrum Plaza near Houston, Texas, physical and economic occupancy increased from 30% to over 87% in the first few months of ownership.
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*All content in this blog post is presented for entertainment and informational purposes only. The press release was from the new owner. We receive no compensation from the properties, companies, organizations mentioned or pictured in this blog post and are not in any way affiliated with them. Opinions beyond the press release remain our own.
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