LAS VEGAS – Colliers International – Las Vegas announced the offer for sale of the Lucky Club Hotel & Casino at 3227 Civic Center Drive on Interstate 15 and Cheyenne Avenue in North Las Vegas. The 5.4-acre gaming property is a value-add investment with an asking price of $13 million, which is well below replacement cost, and a cap rate of 16.7 percent.
“In the Las Vegas market, where there are high barriers to entry for gaming properties, it is difficult to find moderately priced casinos,” said Mike Mixer, executive managing director of Colliers International – Las Vegas. “With the recent Lucky Dragon Casino auction, that didn’t sell due to over-pricing, this property is one of the few full-service, unrestricted casinos in town that has an attractive price point. It is also nestled in a growing locals-market, while conveniently located on Interstate 15 and Cheyenne Avenue, and attracts locals, visitors and travelers looking for a clean hotel room, ample parking, food and entertainment.”
The Lucky Club Hotel & Casino is a full-service hotel casino with 85 renovated rooms located along the west wing of the property, 400-square-foot guest rooms with new furniture, bedding, mattresses, drapes, carpet and other designer amenities, and laundry service in house. With a dog park, swimming pool and almost six acres of parking, the Lucky Club is also a pet-friendly and family-friendly hotel. The gaming area features 16,480 square feet of space with four blackjack tables and 239 slot machines.
For more information about properties at Colliers International – Las Vegas, visit https://www2.colliers.com/United-States/Cities/Las-Vegas.
About Colliers International Group Inc.
Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is a top tier global real estate services and investment management company operating in 69 countries with a workforce of more than 13,000 professionals. Colliers is the fastest-growing publicly listed global real estate services and investment management company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide, and through its investment management services platform, has more than $25 billion of assets under management from the world’s most respected institutional real estate investors.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice to accelerate the success of its clients. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 13 consecutive years, more than any other real estate services firm. Colliers is ranked the number one property manager in the world by Commercial Property Executive for two years in a row.
Colliers is led by an experienced leadership team with significant equity ownership and a proven record of delivering more than 20% annualized returns for shareholders, over more than 20 years.
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For further information, please contact:
Courtney Goffstein, Marketing Manager
Las Vegas, Colliers International