The Las Vegas Raiders have completed their purchase of 62 acres of land between Russell path and Hacienda Avenue, just west of Interstate 15 as well as the famed Strip.
Sold! The 62 acres of land between Hacienda Avenue to the north and Russell Road towards the south will serve as the home that is future of Las Vegas Raiders.
The NFL group bought a total of four parcels for a sale that is combined of $77.5 million, or $1.25 million per acre. That’s a premium that is substantial the sellers, as the land’s assessed value was $40 million.
Nevada Land Group, LLC, had been the seller, group of banking institutions that acquired the property in foreclose in 2008. The land that is vacant 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 which is partially built with tax dollars produced from resort remains in Clark County. Along with Nevada’s $750 million commitment, Raiders owner Mark Davis’ franchise will be regarding the hook for the remaining $1.15 billion.
‘This site was not one of those originally mentioned,’ Michael Parks, a realtor that is commercial brokered the deal, told theLas Las Vegas Review-Journal. ‘Through many months of reaching out … and making certain they were mindful this site was available, they decided this was their preferred web site. Now that they’ve actually written a check … they can Continue Reading ->