A Las Vegas strip mall property has been seized by a recent foreclosure.
The Las Vegas Review-Journal reportsCheyenne Commons, at the Southwest corner of Rainbow Boulevard and Cheyenne Avenue was repossessed earlier this month. It doesn’t bode well for brick and mortar retail stores already struggling in an online-heavy market.
Tenants of the property include Walmart, Ross and Marshals as well as more than a dozen vacancies. Cheyenne Commons was built in 1993, and bought in 2006 by Kimco Retail Properties for $55 million. A notice of default on the property was filed in mid-March.
