County OKs $55M real estate purchase on south Strip

Clark County commissioners approved a woody Tuesday to bargain spot on the southbound Strip adjacent McCarran International Airport for $55 million.

The transaction calls for the Department of Aviation to get astir 17.3 acres of mostly vacant existent property on Las Vegas Boulevard betwixt Four Seasons and Dewey drives, crossed from Mandalay Bay.

According to region documents, the income process “was conducted successful accordance” with national requirements to beryllium eligible for the Federal Aviation Administration to screen up to 75 percent of the acquisition done a aboriginal grant.

The region committee approved the acquisition arsenic portion of the hearing’s alleged consent agenda. Along with dozens of different items connected that database that were approved successful 1 bulk vote, commissioners gave the transaction the OK without immoderate treatment connected the deal.

Department of Aviation spokesperson Joe Rajchel said Monday that ​​the acquisition would assistance information and information and “operational efficiencies” astatine McCarran, and that a program for the tract would beryllium developed aft the merchantability is finalized.

The seller, owe lender TPG Real Estate Finance Trust, acquired the tract and 10 acres on the northbound Strip little than a twelvemonth agone done a process that lets radical transportation existent property ownership portion avoiding foreclosure.

Contact Eli Segall astatine esegall@reviewjournal.com oregon 702-383-0342. Follow @eli_segall connected Twitter.