International edition
August 05, 2020

For $108.6 million in auction

Bankruptcy auction sells undeveloped 38 acres of property on Las Vegas Strip

Bankruptcy auction sells undeveloped 38 acres of property on Las Vegas Strip
The 38 acres situated across Las Vegas Boulevard from Mandalay Bay Resort and Casino is within walking distance from Allegiant Stadium.
United States | 07/31/2020

Four separate bids by undisclosed buyers were accepted for the land, which is in a qualified opportunity zone, and can be developed as gaming, hotels, retail, restaurants, entertainment, resort amenities, parking, among other things.

C

lark County’s first-ever online bankruptcy auction brought in more than $108 million for a large piece of land on the Las Vegas Strip, which came into the county’s possession after Desert Land, LLC, Desert Oasis Apartments and Desert Oasis investments filed for Chapter 11 bankruptcy.

The 38 acres situated across Las Vegas Boulevard from Mandalay Bay Resort and Casino is within walking distance from Allegiant Stadium, New 3 Las Vegas reports.

All of the land is in a qualified opportunity zone and can be developed as gaming, hotels, retail, restaurants, entertainment, resort amenities, parking, among other things.

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