Realty group buys 35 acres in North Las Vegas for $6.83 million
A realty group led by a Massachusetts apparel executive bought 35 acres in North Las Vegas for $6.83 million, or about $195,000 an acre, county records show.
NBC Fourth Realty Corp. bought two separate parcels at Lamb Boulevard and Lone Mountain Road, with frontage along Interstate 15, in a transaction recorded Tuesday.
The seller was TML Mendenhall. Robert Mendenhall bought the land for $4 million in December 2000.
The president of NBC Fourth Realty is Richard Scherr, senior vice president and group president of TJX Cos. and a 20-year apparel industry veteran. He sold $1.29 million in shares of TJX in September , and still owns about 75,000 shares.
TJX shares fell 34 cents, or 0.75 percent, Thursday to close at $45.18 on the New York Stock Exchange.
TJX, the parent company of TJ Maxx, Marshalls, Winners, HomeSense and HomeGoods, has no plans to open new stores in North Las Vegas, company spokeswoman Doreen Thompson said. She gave no further details on the land use.
"We do not comment on business activities that we consider competitive in nature," she said Thursday.
Contact reporter Hubble Smith at hsmith@reviewjournal.com or 702-383-0491.
