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Want to buy some Strip property? Hope you have a good line of credit
Three years after trying to sell a chunk of the Strip, a group of investors has put the property back on the market — and they’re asking $300 million more this time.
Spectrum Group Management and partners are trying to sell 16 acres — largely comprising retail buildings and parking lots — at the southeast corner of Las Vegas Boulevard and Harmon Avenue, across from CityCenter.
The asking price? A cool $800 million, according to listing broker John Knott of CBRE Group.
Where is the spot?
The site includes a Walgreens; a low-slung retail plaza with souvenir shops, a food court and a Fatburger; the Hawaiian Marketplace, which has tenants but is laced with vacancies; a Travelodge; and the empty former Harley-Davidson Cafe building at Harmon.
Ahh, that makes sense. That area has been a dive since I started going to Vegas. Time to build a casino.
Numbers from :
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