At the northern end of the strip is Graves, a retail center anchored by Walgreens.
According to the brokerage Colliers Las Vegas listing, the building is for sale with additional retail space available for lease.
This is not the first time a property has come on the market, but Colliers broker Steve Neiger said that things are different this time.
“The renovation of the Strat, the renovation of SLS, the new construction of Resorts World and the expansion of the Convention Center, the city archway of Las Vegas and road improvements to the northbound resort – they all came together to reorganize the entire area Are, ”said Nigar.
The building, over 37,000 square feet, sits on 1.8 acres at 2427 Las Vegas Blvd. South, at the corner of Las Vegas Boulevard and Sahara Avenue. It is across the street from the Bonanza Gift Shop, which presents itself as “the world’s largest gift shop”.
Valgrens makes it easy to spot the property because it faces a busy intersection, but Nigar said the retailer has only 42 percent of the building’s square footage. He said the firm is looking to add additional tenants.
There are two ground-floor retail spaces for lease of 3,689 square feet and 3,319 square feet as well as a 13,162-square-foot space that boasts a grandfather unrestricted gaming license.
Property records show an entity associated with Salt Lake City-based developer Sorenson Group Management purchased the site in 2014 for $ 36 million before building Wallgren’s home.
During the real estate bubble in the mid-2000s, Australian developers planned to build a 73-story condo tower to Ivana Las Vegas on the site. Donald Trump’s ex-wife Ivana Trump agreed to keep her name on the tower, which was never built.
The site sold for $ 47 million in 2007 before 2010 before going into foreclosure.