Oak View Group, led by noted arena builder Tim Leiweke and former Raiders executive Marc Badain, plans to construct a 20,000-seat view south of the Strip.
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Phoenix has long held a monopoly in the Southwest on hosting major sporting events. But that has changed with Las Vegas and Los Angeles adding new facilities.
Southern Nevada real estate professionals already have seen indications of an anticipated climb in local land values as a result of Las Vegas’ leap into big-league status.