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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 path and Hacienda Avenue, just west of Interstate 15 as well as the famed Strip.

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

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

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

The home will be the future home of the $1.9 billion, 65,000-seat NFL stadium that’ll be partially built with tax dollars generated from hotel remains in Clark County. As well as Nevada’s $750 million commitment, Raiders owner Mark Davis’ franchise shall be on the hook for the remaining $1.15 billion.

‘This site wasn’t 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 site was available, they decided this ended up being their preferred site. Now they’ve actually written a check … they could go forward along with Devamını oku