Las Vegas, Nevada Raiders Officially Landowners, Future Home Purchased Near Strip

Las Vegas, Nevada 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 therefore the famed Strip.

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

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

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

The home would be the future home of the $1.9 billion, 65,000-seat NFL arena that’ll be partially built with tax dollars produced from hotel remains in Clark County. In addition to Nevada’s $750 million commitment, Raiders owner Mark Davis’ franchise shall be regarding the hook for the remaining $1.15 billion.

‘This site was not 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 making certain they were conscious this web site was available, they decided this ended up being their preferred web site. Now that they’ve actually written a check … they are able to Læs resten