Red Rock Commercial Center « Champion Partners

Red Rock Commercial Center

By Champion in : News // Sep 18 2006

Red Rock Venture Sells 82,000 Square Foot Shopping Center in North Las Vegas

Las Vegas: Champion Partners, L.L.C., a development manager of by Red Partners, L.L.C. owners and developers of Red Rock Commercial Center, located at the south east corner or Craig and Martin Luther King Roads, City of North Las Vegas, that the sale of Red Rock Commercial Center, North Las Vegas, Nevada to a group headed by Secured California Investments, Inc. The shopping center included as major tenants Michaels, Office Depot and 99¢ Only Store. The sale was brokered by CB Richard Ellis, Las Vegas.

Red Partners, LLC joint venture consists of development firms Silver Creek Properties, L.L.C., Champion Partners L.L.C. and Dana Commercial Credit, an Austin, Texas based wholly owned commercial finance subsidiary of Dana Corporation (NYSE: DCN), a Fortune 200 company. Dana Commercial Credit provided the equity capital required to complete the acquisitions and development. First National Bank of Arizona, N.A. provided financing to the venture totaling $8.2 million.

“The sale of Red Rock Commercial Center was completed within 18 months of the acquisition of the property as raw land, well within the timeframes expected by the joint venture participants” said Ricky Lyons. “The venture owns two other projects and expects to continue to new opportunities together”.

Champion Partners L.L.C. led by President, Ricky Lyons, is a development firm with a focus on commercial real estate development and investments between Champion and its partner, SG, Inc. (formerly The Shell Group Inc.). They have developed over 5 million square feet of retail commercial, sold over 130,000 time share units, converted over 2,000 condominium units, owned and managed over 1,500 hotel rooms, acquired more than 5,000 residential and rental apartments and more than 500 congregate care housing units. Champion has offices in Scottsdale, Arizona and Northbrook, Illinois.

Silver Creek Properties, led by Jeff Rothbard, with his affiliates, have developed more than 4.2 million square feet of retail centers throughout the U.S. since being formed in 1970. Jeff Rothbard, principal of Rothbard & Associates, now focuses on properties located throughout the Western U.S.