ATLANTIC CITY-Pinnacle Entertainment Inc. named Jones Lang LaSalle to market for sale a 19.5-acre land site along the boardwalk in Atlantic City. The site, which has around 500 feet of frontage on the boardwalk, originally housed The Sands Casino Hotel, which has since been. The site sits two blocks from a 500,000-square-foot retail and entertainment district and is five blocks from the Atlantic City Rail terminal.

Leading the marketing team on this transaction are Tom Kirschbraun, William Bingham and Edward Lewis of JLL’s capital markets business, along with Jeff Davis of Jones Lang LaSalle Hotels. "Atlantic City is the largest gaming entertainment destination on the entire East Coast and the property represents an opportunity to develop a large and strategically located parcel,” says Tom Kirschbraun, a managing director at JLL. Given its scale, the new owner will have the ability to phase the development as the market recovers.”

There are several economic incentives and grants available from the state and the Casino Redevelopment Authority that could promote future development of the property, JLL vice president Edward Lewis tells GlobeSt.com. "Moreover, Atlantic City benefits from a favorable regulatory and political environment offering the second lowest tax rate for casinos in the country."