Search
 

Marriott Spends $186M Buying Up Vegas Block

LAS VEGAS-The Bethesda, MD-based public company is buying up the better part of a full block acquired across the street from the Las Vegas Convention Center.

By Brian K. Miller | Updated on August 12, 2007

LAS VEGAS-Marriott International is gobbling up the better part of a full block of properties across from the Las Vegas Convention Center. The Bethesda, MD-based public company has acquired or put under contract five contiguous parcels totaling 10.6 acres for an aggregate price of $186 million, or $17.55 million per acre.

The properties are all located on the block bound by Convention Center Drive, Paradise Road, East Desert Inn Road and Debbie Reynolds Drive. Immediately to the west, across Paradise Road, is the Las Vegas Convention Center. Immediately to the south, across East Desert Inn Road, is the Wynn Las Vegas Golf Club.

The properties Marriott has or is under contract to acquire touch all four of the streets on the block. A spokesperson for Marriott acknowledged for GlobeSt.com the company’s interest in acquiring properties in the area but could not immediately provide additional detail on the company’s plans. A source at the Las Vegas Convention and Visitors Bureau, which operates the convention center, tells GlobeSt.com it has not been made aware of Marriott’s future plans for the site.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.