Las Vegas Sands Buys Property in South West Valley of Las Vegas to Build Headquarters

Las Vegas Sands Buys Property in South West Valley of Las Vegas to Build Headquarters

The casino operator has bought two buildings in South West Valley of Las Vegas. The operator plans to build its future headquarters there. Two office buildings as well as a parking garage have been purchased at Durango Drive that is located just south of the Hacienda Avenue. The properties have been purchased for $ 21.55 million.

Details of the properties bought

According to the marketing brochures of the properties, one office building has an area of about 31,647 square feet while the other building has an area of 79,109 square feet. This has been reported in the Las Vegas Review Journal.

The operator has sold off the properties i.e. The Venetian, Palazzo as well as the former Sands Expo and Convention Center. The sale was concluded for a total of $ 6.25 billion for all properties combined.

The company had closed its operations in Las Vegas in order to concentrate on the Macau as well as the Asian markets such as Singapore. The recent acquisition of the properties in the South West Valley could indicate that the operator is still keen to keep a presence in Southern Nevada.

According to a spokesman of the operator, Ron Reese, the properties that are newly acquired would be the future headquarters of the operator. The move to the new headquarters would take place around the mid of 2022. Reese further stated that the staff members of the operators have already begun to start the process of a move to the new properties.

Packing has started

In a statement to the Review Journal, he stated that the employees have already begun the process of packing and they would be expected to move out of the current office space by the end of this year. He also stated that the new properties are located in a strategically important area of the valley that is fast growing.

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About sherlock

Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.