LAS VEGAS, NV – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Downtown Las Vegas Development Site, 10,455 square-feet of land located in Las Vegas, NV, according to Justin C. White, regional manager of the firm’s Las Vegas office. The asset sold for $800,000.
Ray Germain, Associate Director, National Retail Group and Charles J. Connors, Director, National Land Group, in Marcus & Millichap’s Las Vegas office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. “This is the 36th property that Chuck and I have closed in the past 18 months in the Downtown Las Vegas submarket, which is a great sign of increased investor confidence in this well-known area of Las Vegas,” states Germain.
The Downtown Las Vegas Development Site consists of .24 acres of commercial C-2 zoned land located on the hard corner of Bridger Avenue and South Casino Center Boulevard in Las Vegas, Nevada. This parcel is very well located in downtown Las Vegas and is within walking distance of “The Fremont Experience,” Clark County Regional Justice Center and the U.S Federal Court. Surrounding businesses include a wide variety of retail shops, restaurants, law firms and several major casinos. “A new project on this site will add to the existing excitement of the overall redevelopment of Downtown Las Vegas, which is well underway,” adds Connors.
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About Marcus & Millichap (NYSE: MMI)
With over 1,300 investment professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 6,600 transactions in 2013 with a value of approximately $24 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com
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