The very expensive land is located across the multibillion dollar mega resort by MGM Mirage, Dubai World, Kerzner International Holdings Ltd and north of the Sahara casino. A casino license is possible at this location.
The 58 year old Arizona businessman and Las Vegas land owner is Steven Johnson. He is from Desert Mountain Renegade Golf Course community and doesn’t have a definite plan for the site.
The purchase has been place through Aspen Highlands Holdings LLC. This company is owned by Johnson and has made large purchases in Las Vegas, Nevada real estate for over two decades.
Several sites developed by Aspen is near the MGM Grand hotel, a Walgreens drug store, and another at Las Vegas Boulevard and Charleston. James Peterson was a transaction partner for both of the previously mentioned deals.
The half a century old Rosewood Grille on the Strip had been purchased in April 2003 for $32.5 million by the partners from the LeWinter family.
There’s a small half an acre parcel located between Palazzo and the Venetian casino that will become another Walgreens from Peterson and Johnson. They leased the site to Walgreen Co., and retail space above it to the Las Vegas Sands Corp., for an undisclosed feed of a future high rise condo development.
May of this year, Elad Group purchased the New Frontier hotel from Phil Ruffin for $35 million per acre. This is well below the more than $50 million acre for the Holy Cow Casino.
Ivana Trump Las Vegas real estate sold to Arizona man for $47 million.
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