Peccole Plaza, a 17-acre shopping center at the southwest corner of Charleston Boulevard and Durango Drive just east of Summerlin, quietly changed hands this spring for $38.6 million, shifting a long-time family-owned retail hub into the portfolio of local developers while keeping its big-name anchors in place.
In a press release, Lucescu Realty said it brokered the deal. Marketing materials and listings on Crexi show the asset traded for $38.6 million and totals about 161,978 square feet across roughly 17 acres at 8671 W. Charleston Blvd., near the Charleston and Durango intersection.
The Las Vegas Review-Journal identified the buyers as Hamid “Henry” Moradi and Dariush Imani and reported that the pair plan to keep the center operating under existing leases. Moradi told the paper that "tenants are under long-term leases with no vacancies in the foreseeable future." The seller was listed as Peccole Enterprises, the family business tied to the late developer Bill Peccole, according to Peccole Management.
Why Investors Paid Up
Anchors such as Kohl’s, Guitar Center, Golf Galaxy and Walgreens give the center a steady rent roll and a reliable shopper draw from nearby master-planned communities, a combo that makes properties like this catnip for income-focused investors. Lucescu Realty’s announcement said anchored shopping centers with strong gross sales are attracting outsized investor demand at a time when there is a shortage of similar, institutional-quality assets, a dynamic that helped support pricing on this deal.
What Shoppers And Tenants Can Expect
The center is 100 percent leased and features a mix of big-box tenants and neighborhood operators, so daily store operations are not expected to change in the near term. Trade coverage and listings confirm the tenant roster and full occupancy, as detailed by REBusinessOnline. In plain terms, your usual run to the anchors should look the same for a while.
Buyers’ Local Ties
Moradi is the founder of Paramount Engineering & Development and has a track record of local commercial projects and recent ground-up work, according to industry coverage. The Review-Journal also identified Imani as a co-owner of Paramount and noted nearby residential plans, including a proposed development that could add roughly 1,480 homes to the trade area, context that helps explain investor interest. List Self Storage and the Review-Journal provide background on the buyers and related projects.
For neighbors and shoppers, the most likely short-term outcome is stability. The anchors remain open, leases are long, and the new owners have signaled no immediate plans to shake up the tenant mix. Any major shifts such as renovations, new tenants or a broader repositioning would surface later through brokers and city filings as the new ownership team refines its strategy.
