SAFCO bags Las Vegas retail center

Adds nearly 230,000 square feet

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Grubb & Ellis Co. represented Los Angeles-based SAFCO Capital in the acquisition of Charleston Plaza, a 229,020-square-foot retail center in Las Vegas, Nev. The transaction was valued at $21.5 million. New York-based Kimco Realty Corp. was the seller. The center, which was built in 1989, is located at the southwest corner of Charleston Boulevard and Burnham Avenue. Tenants in the center, which was 98.5 percent leased at the time of sale, include Albertsons, Sav-On, Factory 2U, Greenbacks and Rodeo Discount Mall. Dixie Walker and Charley Simpson of Grubb & Ellis' Newport Beach office and Mike Kammerling of Grubb & Ellis/Las Vegas represented both the seller and the buyer. Grubb & Ellis is an international provider of integrated real estate services. *** Send tips, feedback or a letter to the editor to or call (510) 658-9252, ext. 124....