Large Southern Nevada public-lands auction set for next week

Get your checkbooks out.

The federal government on Tuesday will hold its largest local public-lands auction in 11 years, as the Bureau of Land Management puts 40 parcels totaling nearly 900 acres in southwest Las Vegas, east Las Vegas and Henderson up for sale.

Vacant parcels will be available starting as low as $125,000 — or about half of the median local single-family home price of roughly $220,000.

The sale is an important economic indicator: Land ends up on the auction block after an interested buyer sees a parcel suitable for a specific project. The buyer then asks the city or county to nominate the lot for sale. Lot demand mirrors economic growth, so it’s telling from a demand standpoint that acreage for sale continues to surge.

At 856.2 acres, Tuesday’s auction will be the largest since the November 2005 sale of more than 2,900 acres across the Las Vegas Valley. It’s also 36 percent more land than went on the market in the last auction in November, when 625.5 acres were up for sale.

The biggest lot will be familiar to auction watchers: It’s a 247.6-acre parcel at the southeast corner of Hollywood Boulevard and Cheyenne Avenue that’s become a habitué on the sale block.

The land’s development barriers include a gravel pit, mineral rights that belong to a third party and a location inside Nellis Air Force Base’s live-ordnance loading area.

As in past auctions, it starts at $1.85 million.

A limited liability corporation called Sao Tome bought the land at auction in May for that price, but records with the Clark County Assessor’s office show the entity never closed on the purchase. Secretary of state records don’t list the company’s officers.

For shoppers looking for smaller lots, two parcels of 1.25 acres each will be on the market. One at the southwest corner of LeBaron Avenue and Valley View Boulevard will start at $125,000, while the other, near Schuster Street and Valley View, will begin at $173,000.

Most parcels range from 2.5 acres to 20 acres. The total appraised value of the properties is $85.4 million. That’s 35.6 percent more than the prior post-recession high of $63 million for 516.2 acres in December 2014.

It will be the bureau’s sixth competitive oral auction since it revived live land sales in January 2014 after a seven-year hiatus. The agency holds oral rather than written auctions when it expects large numbers of interested buyers.

The auction will happen inside the commission chambers at the Clark County Government Center, at 500 S. Grand Central Parkway. Bidder registration opens at 8 a.m., and the sale starts at 10 a.m. Successful bidders must pay 20 percent of the full purchase price with a cashier’s check by 3 p.m.

Sale proceeds go to the state’s education fund, the Southern Nevada Water Authority, public parks and the purchase of environmentally sensitive land. Past auctions have funded the $25 million renovation of Lorenzi Park, as well as the visitors’ center at Red Rock Canyon National Conservation Area, outdoor features at the Las Vegas Springs Preserve and amenities at Lake Mead.

To see the parcels, go to, and choose “Land Auction April 26, 2016” under the “In the Spotlight” section.

Contact Jennifer Robison at Follow @_JRobison on Twitter.

Bellagio, MGM Resorts International’s luxury hotel turns 20
The more than 3,000-room Bellagio hotel is situated on the site of the former Dunes Hotel. The Dunes was imploded in 1993, and construction of the Bellagio started in 1996. It cost $1.6 billion to build, making it the most expensive hotel in the world at the time. The Bellagio was former Wynn Resorts Ltd. Chairman and CEO Steve Wynn’s second major casino on the Strip after The Mirage. MGM Resorts International acquired the property from Steve Wynn in 2000. (Tara Mack/Las Vegas Review-Journal)
Facial recognition software at G2E – Todd Prince
Shing Tao, CEO of Las Vegas-based Remark Holdings, talks about his facial recognition product. (Todd Prince/Las Vegas Review-Journal)
Former NBA player, Shaquille O'Neal, speaks about his new Las Vegas chicken restaurant
Former NBA player, Shaquille O'Neal, speaks about his new Las Vegas chicken restaurant. Bizuayehu Tesfaye/Las Vegas Review-Journal @bizutesfaye
Bobby Baldwin to leave MGM
MGM Resorts International executive and professional poker player Bobby Baldwin is set to leave MGM.
Caesars has new armed emergency response teams
Caesars Entertainment Corp. has created armed emergency response teams. They are composed of former military and law enforcement officials. "These teams provide valuable additional security capabilities,” Caesars spokeswoman Jennifer Forkish said. Caesars is hiring Security Saturation Team supervisors, managers and officers, according to LinkedIn. The company did not say how many people it plans to hire for the units. (Las Vegas Review-Journal)
Las Vegas, airlines prepare for CES
CES in January is expected to attract more than 180,000 attendees. (Las Vegas Review-Journal)
AGS partners with Vegas Golden Knights
AGS is the nation’s second-largest manufacturer of Class II slot machines used primarily in tribal jurisdictions. It announced a marketing partnership with the Vegas Golden Knights NHL team. (Las Vegas Review-Journal)
Lehman Brothers bet big on Las Vegas
Lehman Brothers collapsed 10 years ago, helping send the country into the Great Recession.
Fremont9 opens downtown
Fremont9 apartment complex has opened in downtown Las Vegas. (Marcus Villagran/Las Vegas Review-Journal) @marcusvillagran
Ross & Snow launches in Las Vegas
Luxury shoe brand Ross & Snow has opened in Las Vegas, featuring "functional luxury" with premium shearling footwear. (Bailey Schulz/Las Vegas Review-Journal)
Remote Identification and Drones
DJI vice president of policy and public affairs discusses using remote identification on drones. (Bailey Schulz/Las Vegas Review-Journal)
Drones and public safety in Nevada
Two representatives in the drone industry discuss UAV's impact on public safety. (Bailey Schulz/Las Vegas Review-Journal)
Frontier Airlines to launch flights from Las Vegas to Mexico
Frontier, a Denver-based ultra-low-cost carrier, will become the first airline in more than a decade to offer international service to Canada and Mexico from Las Vegas when flights to Cancun and Los Cabos begin Dec. 15. (Rick Velotta/Las Vegas Review-Journal)
MGM Resorts International CEO Jim Murren addresses Oct. 1 lawsuits
MGM Resorts International Chairman and CEO Jim Murren addresses criticism his company has received for filing a lawsuit against the survivors of the Oct. 1 shooting. (K.M. Cannon/Las Vegas Review-Journal)
MGM Resorts International opens the doors on MGM Springfield
Massachusetts’ first hotel-casino opens in downtown Springfield. The $960 million MGM Springfield has 252 rooms and 125,000-square-feet of casino. (K.M. Cannon/Las Vegas Review-Journal)
MGM Resorts International prepares to open MGM Springfield
Las Vegas-based MGM Resorts International gave news media and invited guests a preview of the $960 million MGM Springfield casino in Massachusetts. The commonwealth's first resort casino will open Friday, Aug. 24. (K.M. Cannon/Las Vegas Review-Journal)
A Walk Through Circus Circus
It only takes a short walk through Circus Circus to realize it attracts a demographic like no other casino on the Strip: families with young children. (Todd Prince/Las Vegas Review-Journal)
Morphy Auctions, a vintage slot machines seller, wants gaming license
Vice president Don Grimmer talks about Morphy Auctions at the company's warehouse located at 4520 Arville Street in Las Vegas on Thursday, Aug. 16, 2018. (Rick Velotta/Las Vegas Review-Journal)
Nevada's venture capital money doesn't stay in state
Zach Miles, associate vice president for economic development for UNLV, said there’s venture money in Southern Nevada, “but trying to find the right groups to tap into for that money is different.” According to a 2017 report from the Kauffman Foundation, Las Vegas ranked number 34 out of 40 metropolitan areas for growth entrepreneurship, a metric of how much startups grow. With a lack of growing startups in Las Vegas, investment money is being sent outside of state borders. The southwest region of the U.S. received $386 million in funding in the second quarter, with about $25.2 million in Nevada. The San Francisco area alone received about $5.6 billion. (source: CB Insights)
Neon wraps can light up the night for advertising
Vinyl wrap company 5150 Wraps talks about neon wraps, a new technology that the company believes can boost advertising at night. (Marcus Villagran/Las Vegas Review-Journal) @brokejournalist
Nevada on the forefront of drone safety
Dr. Chris Walach, senior director of Nevada Institute for Autonomous Systems, talks to a reporter at NIAS's new Nevada Drone Center for Excellence of Public Safety, located inside the Switch Innevation Center in Las Vegas. K.M. Cannon Las Vegas Review-Journal @KMCannonPhoto
Motel 8 on south Strip will become site of hotel-casino
Israeli hoteliers Asher Gabay and Benny Zerah bought Motel 8 on the south Strip for $7.4 million, records show. They plan to bulldoze the property and build a hotel-casino. Motel 8 was built in the 1960s and used to be one of several roadside inns on what's now the south Strip. But it looks out of place today, dwarfed by the towering Mandalay Bay right across the street.
News Headlines
Add Event
Home Front Page Footer Listing
You May Like

You May Like