The Las Vegas Raiders have completed their purchase of 62 acres of land between Russell Road and Hacienda Avenue, just west of Interstate 15 plus the famed Strip.
Sold! The 62 acres of land between Hacienda Avenue to the north and Russell path towards the south will act as the future home of this Las Vegas Raiders.
The NFL group bought a total of four parcels for a combined sale price of $77.5 million, or $1.25 million per acre. That is a significant premium for the sellers, as the land’s assessed value was $40 million.
Nevada Land Group, LLC, ended up being the seller, number of banks that acquired the property in foreclose in 2008. The vacant land is adjacent to I-15 behind Mandalay Bay.
The property could be the home that is future of $1.9 billion, 65,000-seat NFL stadium that will be partially built with tax dollars produced from resort remains in Clark County. Along with Nevada’s $750 million commitment, Raiders owner Mark Davis’ franchise shall be regarding the hook for the remaining $1.15 billion.
‘This site wasn’t one of those originally mentioned,’ Michael Parks, a commercial realtor who brokered the deal, told theLas Las Vegas Review-Journal. ‘Through many months of reaching out … and ensuring they were aware this site was available, they decided this was their preferred site. Now that they’ve actually written a check … they could go forward making use of their planning. Continue reading “Vegas Raiders Officially Landowners, Future Home Purchased Near Strip”