The University of Nevada, Las Vegas’ UNLV Foundation purchased a 42 acre parcel of vacant land on East Tropicana Avenue just east of Koval Lane in Las Vegas, Nevada for $50,000,000. Mike Mixer with Colliers International – Las Vegas represented the sale.
“It’s the biggest (land deal) since the ‘60s,” Gerry Bomotti, chief financial officer for the University of Nevada, Las Vegas, said referring to the last time the campus made any significant expansion acquisition.
Plans for the property include future UNLV campus expansion and related uses. Currently UNLV’s campus occupies 332 acres approximately 1.6 miles east of the Las Vegas Strip. The campus is landlocked with no feasible developable land immediately adjacent to their existing facilities. This new acquisition will offer the institution the chance to build new state of the art academic buildings and amenities near the campus core while bringing the campus closer to the heart of Las Vegas Strip. There is also an opportunity to build a football stadium on the site to provide a new on-campus home to the UNLV Football program along with a “Campus Village” concept for the student body.
Mike Mixer said of the deal, “This is a great acquisition for the University. It provides UNLV with a significant and strategic growth opportunity for the future.”