Avison Young brokers $15.25 million sale of 14.57 acres of land located in Southwest Las Vegas

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Las Vegas, NV – Avison Young announced today it has brokered the $15.25 million sale of a 14.57-acre site located at the southwest corner of Arby Avenue and Gagnier Blvd in Las Vegas, NV (Clark County).

Avison Young Principals Pat Sauter, Art Carll-Tangora, and Steve Nosrat of the Sauter Multifamily Team exclusively represented the seller, a Nevada-based limited liability corporation, in the sale.

The land’s zoning classification is Urban Village (U-V) and the new ownership plans to develop midrise apartments. Situated adjacent to the new Uncommons development, its prime location allows immediate access to Durango, Warm Springs and the 215 beltway, McCarran International Airport (10 minutes), and the Las Vegas Strip (15 minutes).

The Southwest submarket has been booming with construction, experiencing the fastest growth in Southern Nevada and is home to a multitude of major recent completions as well as new planned developments. The area has quickly attracted a flurry of new development activity which includes: The Uncommons, a 40-acre community that will be the premiere “Live, Work, Play” environment, directly across the street. The UNLV Research and Technology Park, a 122-acre master planned business, research, and technology community. The BEND – entertainment, retail, restaurant development. Durango Casino, Stations Casino new site at Durango and 215 expected to be finished by late 2023.

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