Las Vegas — Aspen Real Estate has acquired Renaissance III, a 225,748-square-foot foreclosed shopping center located in Las Vegas. Aspen purchased the property from special servicer LNR Property LLC for $24.7 million. Tenants at the center include Planet Fitness, America First Credit Union, Nevada Department of Health and Human Services, Ichabod’s Lounge and Restaurant, Panda Express, Meineke and Chaga Root. Logic Commercial Real Estate represented both the buyer and the seller in the transaction. Aspen has allocated $7 million for renovations and tenant improvements, with plans to demolish two buildings to make space for fast-casual food-and-beverage users.
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