September 12, 2017
Clark County Department of Aviation sold two assets in Las Vegas for an aggregate price of $28.3 million. While state and local regulations required that any bids be placed during a public meeting of the Board of County Commissioners, county staff opted to complement a traditional auction with Ten-X Commercial.
Ten-X Commercial’s Steve Jacobs says, “In addition to the challenge of ensuring that we were in compliance with all regulations associated with selling land for the government, we helped make a market for assets that were structured in a way that was novel to many investors.”
The assets include the leased-fee interest in Arroyo Market Square retail center, a 919,0000-square-foot property located at 7200 Arroyo Crossing Parkway. The other asset was a leased-fee interest in two medical office buildings totaling 40,802 square feet on 6.4 acres, and two vacant fee-simple lots totaling 4.3 acres located at 5915 S. Rainbow Boulevard.
For comments, questions or concerns, please contact Dennis Kaiser