Lily Funds, LLC announced the sale of 2.2 acres of land on Las Vegas Blvd., located in an Opportunity Zone less than a half mile from the Las Vegas Raiders' Allegiant Stadium and nearly adjacent to the "Welcome to Fabulous Las Vegas" sign. The purchase price of $12,760,000 equates to $5,800,000 an acre.
"I am very happy to see another successful transaction, and while the buyer has requested to remain anonymous, we are excited for the possibilities," said Tom McManus, president and CEO of Lily Funds, LCC. "We have now divested out of 25 acres of our portfolio over the past two years. This sale is just another symbol of the exponential growth southern Nevada is experiencing."
McManus still has for sale 2.48 acres with an asking price of $16,500,000 located south of the property, next to the new Dream hotel.