LAS VEGAS (KLAS) — Suncoast Hotel & Casino’s land is listed for sale, in what Colliers International is calling a “once-in-a-lifetime generational opportunity.” So, how much will it cost? The price is only available upon request to qualified investors.
The listing of the 1.3 million-square-foot property boasts its fantastic location in Summerlin on the high-profile real estate corner of Alta and Rampart.
The Suncoast property includes a 95,000-square-foot casino, 427 hotel rooms, multiple dining options, 25,000-square-feet of banquet and meeting accommodations, entertainment facilities that include a 16 stadium seating movie theater, and a 64-lane bowling alley.
For those interested, the purchase will be made on a NNN ground lease. According to Top Hand Realty Advisors, a ground lease solely encompasses the land the building is located on. The investor who purchases Suncoast will receive a fee title to its 49.13 acres of land.
Boyd Gaming holds the corporate lease for the next 35 years, meaning the purchaser will have zero landlord responsibilities during that time frame.
The situation is similar to that of Blackstone’s possible acquirement of the Bellagio and MGM Grand from MGM Resorts International.