CBRE has announced the recent sale of the legendary Las Vegas Country Club, a private, member-owned club in the heart of the Las Vegas Resort Corridor, for an undisclosed price.
Las Vegas Country Club (LVCC) enjoys incomparable views of the Las Vegas Strip and the two-story 54,000-square foot clubhouse, with its striking architecture and storied past, was a frequent hangout of the Las Vegas elite including Elvis Presley, Dean Martin and Frank Sinatra. It features casual and formal dining rooms with kitchens on both levels, a board room, meeting rooms, member’s grille, large outdoor terrace on the upper level, locker rooms with saunas and steam rooms, card rooms, golf and tennis pro shops, barber shop, seamstress and administrative offices.
The challenging LVCC golf course opened for play in 1967 and was designed by Ed Ault, a successful pioneer in golf course design who is credited with the systematic coordination of pin placements and tee marker locations, which today is common practice on golf courses across the country. The classic course served as host to 20 PGA Tour and LPGA Tour events before undergoing an extensive, $5.4 million renovation in 2009. Additional recreational amenities include a swim and fitness facility, four outdoor tennis courts and two indoor tennis courts, plus an entertainment center with golf simulators, racquetball court, pool table and club lounge.
CBRE represented the LVCC members in the transaction, who sold their club to Samick Music Corporation (SMC), a U.S. subsidiary of Samick Musical Instruments Co., Ltd., one of the world’s largest musical instrument manufacturers. SMC, through its subsidiary, also owns and operates Redhawk Golf Club, an award-winning daily fee golf course in Temecula, California.
Jeff Woolson, an executive vice president with CBRE who serves as the managing director of its Golf & Resort Group, handled the transaction along with John Knott, an executive vice president with CBRE in Las Vegas. Mr. Woolson commented that “Las Vegas Country Club is a big part of the Las Vegas community with a fascinating history. The new owners have a unique opportunity to add to the club’s legacy and capitalize on the growth occurring in Las Vegas, including the pending $1.4 billion expansion of the adjacent Convention Center.”
“This sale will continue the tradition of having a first-class country club in the Las Vegas resort corridor,” added Knott.