PositivelyLV

Actions

Undeveloped land on Las Vegas Strip sells for $108M in first virtual auction

Posted at 1:22 PM, Jul 30, 2020
and last updated 2020-07-30 16:51:08-04

Colliers International | Las Vegas announced 38 acres of undeveloped land on the Las Vegas Strip sold for $108.6 million during a bankruptcy auction.

In Clark County’s first-ever virtual bankruptcy auction, four separate bids were accepted by undisclosed buyers.

The undeveloped site includes 750 feet of frontage on Las Vegas Boulevard directly across from Mandalay Bay and is within walking distance from Allegiant Stadium.

All parcels of land sold during the auction on June 5 are in a Qualified Opportunity Zone and can be developed for gaming, hotels, retail, restaurants, entertainment, resort amenities, parking as well as other uses.

For more information regarding the property, which is located at the corner of Hacienda Avenue and Las Vegas Boulevard, visit DevelopTheStrip.com.