Built in 1954, storied Las Vegas commercial center will be redeveloped to offer fresh new retail options to support area revitalization
On March 24th, nearly seven decades of Las Vegas retail business history will turn a new page, as SR Construction begins the demolition process of Hyde Park Shopping Center at 4241 West Charleston Boulevard – southeast corner of Charleston and Arville Street, in Las Vegas.
The storied retail center was originally constructed in 1954 and added to in 1967. The 2.7-acre site had a total gross leasable space of 34,854 square feet, and at capacity its three buildings held upwards of 20 tenants. Hyde Park was home to the first Kentucky Fried Chicken location in the state, in the 1960s. One of its last tenants, West Charleston Auto Upholstery, operated there since 1965; and Flex Cocktail Lounge, the actual final tenant to leave in late 2021, was a mainstay for years.
“This decision was about three or four years in the making. We had been consulting the owners about the need to redevelop,” said Laramie Bracken, executive vice president, Brokerage Services with Gatski Commercial Real Estate Services, which has managed the property since 2003. “The family members knew they wanted to keep it as a family-run investment for the long-term, and now they’re excited to move forward. This will be a new, modern, updated version of Hyde Park.”
Gatski Commercial will lease and manage the new Hyde Park, which SR Construction hopes to complete in 12-18 months. The new Hyde Park will include a quick-serve drive-thru restaurant pad, a potential auto retail space, and an end-cap drive-thru restaurant space, in addition to numerous other retail opportunities.
Hyde Park owners, Carpi Enterprises, LLC come from a prominent family of optometrists who operated a vision care practice in the Valley for more than 90 years before closing it in 2018. The family is excited to be part of the extensive Charleston corridor commercial and residential redevelopment efforts currently underway.
With area redevelopment initiated by the UNLV medical school campus just one block east of the shopping center, along with many other residential and retail property revitalizations in the Hyde Park neighborhood, the project’s timing is perfect.
“This is an exciting opportunity, especially with what’s going on around the property. The timing is right and it really makes sense to be part of the whole redevelopment of Charleston Boulevard,” added David Bauman, managing director of Property Management for Gatski Commercial.
Source: Gatski Commercial
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