I found this picture of where the land was vacant at the time.
Now, back then, price per acre was maybe $1 Million an acre. The SWC of Tropicana & Las Vegas Blvd had been purchased by Mike Ensign for $60 Million for the 60 acres.
(What's there now?)
A short while later, MGM (Kirk Kerkorian) bought this parcel and developed City Center. So, you see, price for land is relative.
Currently, there is a +/-40 acre parcel for sale on Las Vegas Blvd. One acre that was owned separately and is surrounded by this land recently sold for $7.4 Million. To me, that makes the land surrounding it +/-$5 Million an acre(?).
Anyway, I think a Retail Mall with multiple national credit tenants could work at this site.
I don't think a full scale Las Vegas Resort would work simply because of the Airport Noise that would be 24/7 -- just as Las Vegas is.
So, if any of you are ambitious enough to create another outstanding Las Vegas Retail Mall on Las Vegas Blvd, email me for the property details.
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