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Colliers Closes $240M Formula 1 Development Site

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Groundbreaking sports entertainment site pushes forward in Las Vegas

Las Vegas, NV, June 1, 2022 - Colliers announced the escrow closing of the 40-acre land parcel at the NEC of Harmon Avenue and Koval Lane. The development is part of the groundbreaking Formula 1 project in the Resort Corridor of Las Vegas. Longtime Las Vegan Mike Mixer of Colliers, represented Liberty Media, parent to Formula1, on the transaction.

“I’m a big fan of Formula 1 and a big fan of Las Vegas and I’m thrilled to play a small part in bringing these two great brands together,” said Mixer. “Thanks to the leadership of the Las Vegas Convention and Visitors Authority and the entire resort business community for their support.”

The site is situated in the heart of the Las Vegas Resort Corridor between Planet Hollywood Hotel and Casino and the Virgin Hotel and Casino. The property will initially house the pit and paddock complex including the grid and the start/finish line.

To learn more about Colliers, visit www.colliers.com/lasvegas.

About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 62 countries, our 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders. With annual revenues of $4.3 billion and $65 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors, and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.

For Additional Information:
Ashley Jeanes
PR & Communications Specialist | Southwest
+1 214 706 6053
ashley.jeanes@colliers.com

Bryan Welch
Public Relations & Communications Senior Manager | Southwest
+1 801 453 6819
bryan.welch@colliers.com

 


Related Experts

Mike Mixer

Chairman

Las Vegas

Area of Expertise
Mike Mixer, SIOR Chairman is the former Executive Managing Director and co-founder of the Colliers International Las Vegas office, the leading full-service commercial real estate firm in Southern Nevada. An expert in the resort and gaming market, Mike’s expertise has been used by many of the top development and investment firms throughout the world. Mike has been a dominant force in the company’s success in all aspects of the real estate business and has consistently been ranked on of the top three brokers at Colliers International with billions of dollars in real estate transactions.

Business and Educational Background
He began his career in the Resort/Gaming field in 1987 as a casino marketing specialist, working for Steve Wynn at the Golden Nugget Hotel & Casino in Las Vegas. Mike began his Commercial Real Estate career in Las Vegas in 1988 with a firm that built and owned numerous office, retail, and resort projects throughout Southern Nevada and California. In 1993, Mike combined his knowledge and experience to form Stuart Mixer Commercial, (now known as Colliers International- Las Vegas). 

Mike currently leads the firms’ Resort & Gaming and Hotel Services Group focusing primarily on existing hotels, resort hotel projects, gaming properties, mixed-use and redevelopment sites in and around the Las Vegas resort corridors and the University District. He has represented notable clients such as MGM MIRAGE, The Related Companies, American Nevada Corporation, Wynn Resorts and Morgans Hotel Group. Mike is continually sought after for his knowledge and experience in the continuing evolution of the Las Vegas resort corridor, particularly among an increasing international client base. 

Mike has served as a past chairman of the Colliers International USA Board, on the International Governance Committee (IGC) for Colliers and a past chairman of the Colliers USA Board of Advisors. As Managing Partner for the local Las Vegas office, he continues to provide seamless guidance and stability for the firm and its brokers.

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