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Las Vegas Raiders Officially Landowners, Future Home Purchased Near Strip

The Las Vegas Raiders have completed their purchase of 62 acres of land between Russell Road and Hacienda Avenue, just west of Interstate 15 while the famed Strip.

Sold! The 62 acres of land between Hacienda Avenue to the north and Russell path towards the south will serve as the home that is future of Las Vegas Raiders.

The NFL group purchased a total of four parcels for the sale that is combined of $77.5 million, or $1.25 million per acre. That’s a substantial premium for the sellers, as the land’s assessed value was $40 million.

Nevada Land Group, LLC, was the seller, group of banking institutions that acquired the property in foreclose in 2008. The vacant land is adjacent to I-15 behind Mandalay Bay.

The house will be the home that is future of $1.9 billion, 65,000-seat NFL arena which is partially built with tax dollars created from resort stays in Clark County. As well as Nevada’s $750 million commitment, Raiders owner Mark Davis’ franchise shall be on 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 Vegas Review-Journal. ‘Through many months of reaching out … and making sure they were mindful this web site was available, they decided this was their preferred web site. Now they’ve actually written a check … they are able to move ahead with their plann 続きを読む »

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