Property Description:
CB Richard Ellis and Goldman, Sachs & Co. are pleased to present the exclusive opportunity to purchase ±26.87 acres of prime development land on the world-famous Las Vegas Strip. The site offers unparalleled access to the property to both tourists and locals alike with nearly 1,000 feet of frontage on Las Vegas Boulevard and 870 feet of frontage on Paradise Road. The I-15 freeway is only one mile west of the site and a dedicated on and off ramp offers direct access to Las Vegas Blvd. via Sahara Avenue, one of the primary East-West arterial roads in Clark County. The site is situated within walking distance of the Las Vegas Convention Center, one of the largest contiguous convention facilities in the world with over 3.2 million sq. ft. of convention space. The site also features convenient access to the Las Vegas Monorail with a stop located across the street to the north. The Monorail stop is positioned to feed additional customer foot traffic into any future development on the site. The site is zoned H-1 (Limited Resort and Apartment) and lies in the MUD-1 Mixed Use Overlay District within the Gaming Enterprise District (GED). No cooperating fee.

Location Description:
The site is strategically located in a dramatically changing area of the Strip with over $18 billion of existing and new development including an estimated 20,000 new hotel rooms. It is bordered by the Sahara Hotel & Casino to the north, which has been approved for a massive renovation including a 1,000 unit hotel tower. The $2.9 billion Fontainebleau Resort is located to the south and is currently under construction with an estimated completion date of 2010. Located directly across the street is the MGM MIRAGE/Kerzner joint venture, a $4 - $5 billion gaming resort development. Located to the south of the MGM Mirage/Kerzner project is Boyd Gaming Corporation' s $5 billion Echelon Place development on the former Stardust site. On the northwest corner of Desert Inn Road and Las Vegas Blvd., south of Echelon Place, is Elad' s $5 billion Plaza development, located on the former Frontier site and slated to open in 2011.

Zoning Description:
H-1, MUD-1, GED