A 2.2-acre plot of land on the south end of the Las Vegas Strip near Russell Road has been sold to an undisclosed buyer for $12.8 million. The land was sold by Tom McManus, founder of Lily Funds.
According to public records, the land was purchased by Object Dash, an LLC that is managed by Object Dash Trust—that said, the records don’t show who was actually involved in the purchase. Neither the deed of sale nor the business’s registration indicate who may have been behind the purchase.
McManus told the Las Vegas Review-Journal that he agreed to withhold the buyer’s identity, even though he wasn’t exactly sure why they requested anonymity. One entity that is listed on record, however, is real estate law firm Kaempfer Crowell, but the firm has yet to comment on the recent deal.
Despite facing an unprecedented 78-day shutdown in 2020 that forced numerous establishments to close permanently, the Las Vegas Strip has seen a flurry of real estate deals in recent months, as many see the area as a potential growth market coming out of the pandemic.
Liberty Media Corp., the parent company of the Formula One racing circuit, recently closed on a $240 million deal to acquire 40 acres on the east end of the Strip, and developer Oak View Group has announced plans for a $3 billion entertainment complex on the south end of the Strip complete with a sports arena and integrated resort.
