LAS VEGAS (KTNV) — Colliers International announced the renovation of four buildings in downtown Las Vegas that will become known as the Intersection.
Under new ownership for the first time in 20 years, the Intersection property is located in the railway neighborhood near Main Street and Commerce Street.
Chris Clifford, vice president of Colliers International, says this portion of downtown is being revitalized after it was overshadowed by recent developments on East Fremont and within the Arts District and several other public investments.
Clifford says he believes the new Las Vegas City Hall was a beacon and a spark for future revitalization efforts in the area, including the city of Las Vegas' new municipal and traffic courthouse under construction at Clark Avenue and 1st Street – across the street from the Intersection.
In addition to the publicly driven projects, private investments have also followed suit with new endeavors such as Z-Life, a boutique hotel that is being constructed just south of the Intersection on Main Street.
The new owner says plans to renovate the existing buildings, once the General Gamblers Store, will include a new modern-historic façad, with respect to the community's history.
"Growing up in Las Vegas, I've been familiar with this property since I was a kid and, for decades, believed that it was capable of being so much more," Clifford said. "This property just needed the right owners with a good vision, and fortunately, I believe these new owners are the right group with that vision."
Clifford, who represents the property in all leasing transactions, says he is searching for unique tenants who will give the retail property a one-of-a-kind reputation as a destination for fine food and craft drinks.
The property consists of four buildings ranging from 6,200 to 14,340 square feet. The Intersection's landlord says tenant improvement allowances and free rent incentives are available, with property owners confident of this opportunity.
More information is available here.