MonteLago Village At Lake Las Vegas Resort Purchased For $23 Million

Click Here For The Wall Street JournalMonteLago Village At Lake Las Vegas real estate has been sold for $23 million to a Roseville, California investment firm.

The retail village in MonteLago Village is part of the $500 million real estate development from Intrawest Corp. The project in Henderson, NV includes Luna di Lusso and Viera condos, Ritz Carlton Lake Las Vegas and Casino MonteLago.

Built in 2003, the retail shops had a slow start because of the few Las Vegas luxury homes and one hotel. There is about a 30 mile trip to indulge in the upscale shopping and dining experience.

Pacific Capital Investments is excited to invest in the Las Vegas golf resort.

The five acres of Henderson land has 12 buildings of retail space set in an old world Italian village with Mediterranean landscaping, cobblestone pathways and a dock for yachts.

Currently the space is about 93 percent leased. The tenants include Starbucks, Rocky Mountain Chocolate Factory, Como’s Steakhouse, The Auld Dubliner, Luna Rossa, Sunset & Vines and Bistro Zinc.

Transcontinental Properties, based in Santa Barbara, California real estate developed the $7 billion Las Vegas master plan the Lake Las Vegas Resort.

Intrawest of MonteLago Village has said the traffic to the resort would take some time due to the distance from the Las Vegas Strip and general foot traffic. The area is continuing to grow with many new luxury Lake Las Vegas home developments and condos. Source: LVRJ

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MonteLago Village at Lake Las Vegas Resort purchased for $23 million by Pacific Capital Investments.

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