The Las Vegas Raiders have completed their purchase of 62 acres of land between Russell path and Hacienda Avenue, just west of Interstate 15 and also the famed Strip.
Sold! The 62 acres of land between Hacienda Avenue to the north and Russell path to the south will serve as the future home associated with Las Vegas Raiders.
The NFL group 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 band of banking institutions that acquired the property in foreclose in 2008. The land that is vacant adjacent to I-15 behind Mandalay Bay.
The home could be the home that is future of $1.9 billion, 65,000-seat NFL stadium which will be partially built with tax dollars generated from hotel stays in Clark County. In addition to Nevada's $750 million commitment, Raiders owner Mark Davis' franchise will be on the hook for the remaining $1.15 billion.
'This site was not one of those originally mentioned,' Michael Parks, a realtor that is commercial brokered the deal, told theLas Vegas Review-Journal. 'Through many months of reaching out … and making sure they were mindful this web site was available, they decided this ended up being their preferred web site. Now they've actually written a check … they co