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BLM sells more than 460 acres of Las Vegas Valley land for $74.6M

Investors bought more than 460 acres of Las Vegas Valley land at a federal auction this week but also ignored hundreds of acres at the sale.

The Bureau of Land Management on Wednesday sold 461.4 acres for $74.6 million combined, the agency announced.

It offered almost 755 acres at the auction, held in Henderson City Council chambers.

The largest parcel sold, roughly 189 acres at Losee Road and the 215 Beltway, went to homebuilder Larry Canarelli’s American West Homes for $35.1 million, according to the BLM. The parcel had a market value of $30.2 million.

The smallest parcel sold, 1.25 acres at Silverado Ranch and Valley View boulevards, went for $800,000 and had a market value of $350,000, the BLM said.

Records indicate the buyer was J.A. Kennedy Real Estate Co. founder Joe Kennedy.

All successful bidders paid the required 20 percent of the purchase price by 3 p.m. Wednesday, the BLM said. The remainder is due within 180 days.

Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.

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