Executive Summary
The Offering ,
Cushman & Wakefield, Inc., as exclusive advisor, is pleased to offer for sale a remarkable 38.5- acre development site on the world famous Las Vegas Strip. Situated directly across from the Mandalay Bay Resort, an investor could obtain permits within approximately nine months to develop a visionary themed large-scale resort and gaming destination with up to 10,000 hotel rooms. An approved height allowance of up to 505 feet will make any future development on the Site the most highly visible on the Strip to the more than 42 million annual visitors travelling through McCarron International Airport. In addition private aircraft “high roller” terminals adjacent to the Site create a very unique opportunity to provide exclusive direct jet access points. Las Vegas gaming revenues, levels of new development, visitor volumes and visitor spending are all approaching record levels making the timing associated with the development of the Site extremely compelling.
Las Vegas possesses a unique international appeal that draws an incredible 3.5 million visitors each and every month. The growth in tourism is only expected to accelerate with McCarran International Airport anticipated to be the fifth fastest growing airport in the country over the next 10 years with passenger volume projected to reach 55 million. Las Vegas’ growth is expected to be bolstered by a mix of additional seats by domestic and international carriers through more flights and larger aircraft and new service from international carriers including nonstop flights from China within three years. Over 4 million square feet of new convention space and more than $6 billion of new resort, retail and entertainment developments continue to elevate the overall “Las Vegas experience”.
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