Las Vegas, NV, 1/20/2016
- Mike Mixer
, Executive Managing Partner for Colliers International - Las Vegas represented the sale of a 42 acre parcel of vacant land on East Tropicana Avenue just east of Koval Lane in Las Vegas, Nevada. The University of Nevada, Las Vegas' UNLV Foundation purchased the property for $50,000,000.
"It's the biggest (land deal) since the `60s," Gerry Bomotti, chief financial officer for the University of Nevada, Las Vegas, said referring to the last time the campus made any significant expansion acquisition.
Plans for the property include future UNLV campus expansion and related uses. Currently UNLV's campus occupies 332 acres approximately 1.6 miles east of the Las Vegas Strip. The campus is landlocked with no feasible developable land immediately adjacent to their existing facilities. This new acquisition will offer the institution the chance to build new state of the art academic buildings and amenities near the campus core while bringing the campus closer to the heart of Las Vegas Strip. There is also an opportunity to build a football stadium on the site to provide a new on-campus home to the UNLV Football program along with a "Campus Village" concept for the student body.
Mike Mixer said of the deal, "This is a great acquisition for the University. It provides UNLV with a significant and strategic growth opportunity for the future."
About Colliers International Group Inc.Colliers International Group Inc.
(NASDAQ: CIGI; TSX: CIG) is a global leader in commercial real estate services with more than 16,300 professionals operating from 502 offices in 67 countries
. With an enterprising culture and significant insider ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include brokerage, global corporate solutions, investment sales and capital markets, project management and workplace solutions, property and asset management, consulting, valuation and appraisal services, and customized research and thought leadership. Colliers International has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals'
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