Interesting Article in todays WSJ about Vegas growth....

http://www.wsj.com/articles/investors-place-new-bets-on-a-las-vegas-rebound-1431183841

 

meh I let my WSJ subscription lapse a couple years ago, any chance you can cut and paste it?

 

Me too, but the entire article is posted on the WSJ Facebook page.

 

Correction. You can access the full article from a link on the Five Hundy Facebook group. I did not find a link on WSJ Facebook page.

 

http://www.marketwatch.com/story/investors-placing-new-bets-on-a-las-vegas-rebound-2015-05-10

Try that one. I find it curious that the article skips over the unimpressive sale prices for the Trop and Hooters. Based on the optimisism expressed, they should've drawn better prices even if the new developers just bought them to implode and do new concepts. I think the right outlook would be more like stable.

 

https://www.facebook.com/wsj/posts/10153367134508128
Just click on the headline and it takes you back to WSJ w/o a log-in needed.

 

Thanks, sorry I was looking only at today's thread. Did not see the article posted on May 9th.

 

The easiest way to view WSJ articles if you don't have a subscription is to just Google the article title.

Which in this case is "Investors Place New Bets on a Las Vegas Rebound" then just click on the link in the search results. (https://www.google.com/search?q=Investors+Place+New+Bets+on+a+Las+Vegas+Rebound&oq=Investors+Place+New+Bets+on+a+Las+Vegas+Rebound)

It bypasses the paywall.

 

Thanks to all who offered ways to find the full article and did not post it here, as we do NOT allow copy & pasting of full articles here - that's copyright infringement.

 

Thanks for posting. Interesting!!

 

This is a good read...I'll post more on it later but I had no clue about the Asian themed place. That sounds interesting...

 

The article is confusing to me. It says they own the land next to MGM and includes Walgreens and Travelodge. Is that 18 acres? Does that include Coca cola, Gameworks, the Movie Theaters, Hard Rock Cafe, etc?
That part of the Strip, from MGM up to Harley Davidson, is for the most part, mostly t-shirt vendors and such, but does anyone know what 18 acres is on the Strip?
Does it stretch from Harmon Way down to MGM Way, Blvd, St. Rd?

 

18 acres is really not that much on the Strip. Let's put it this way, the lake in front of Bellagio is 8-8.5 acres. Based on the map in the WSJ article, it looks like it runs from Harmon to around where the Smith & Wollensky building is (or maybe includes that and stretches to the Coca-Cola World building), but it carves out Polo Towers, which is unsurprising because timeshares are a nightmare to buy out. It's why Jockey Club is still hanging in there.

 

Cosmo is on 8.7 acres. It would take some creativity, especially around the polo towers, but someone could build a couple of towers on that site. Will they? I doubt it.

 

Creativity and money. The amount of time and effort to build that kind of foundation is enormous; there's no way a place like Cosmo gets built in today's economic climate. The only reason that project even happened was because the theoretical per-acre return was massive on condo sales (emphasis on "theoretical"). What I could imagine, though, depending on what it costs to buy the land, is something along the lines of the Lucky Dragon project, or something on the scale of Cromwell.

 

If you follow the Facebook link that was posted that version of the article has images included in it and one is a map of The Strip that has the area under development highlighted to make it clearer.

 

VegasChatter is saying the parcel is Hawaiian Marketplace. I thought it had already changed hands so I didn't think of it.

 

Hawaiian Marketplace up for sale

18 acres across from City Center

http://www.news3lv.com/content/video/default.aspx?videoId=5763695&navCatId=30912

 

It's more than Hawaiian Market place, it's nine parcels with the current tenants: Travelodge, Harley-Davidson Cafe, Smith & Wollensky, Walgreens, Hawaiian Marketplace, Chili’s, Fatburger, Fat Bar, Ginseng BBQ, Tamba Indian Cuisine, Tommy Wind Theater and Rathaus. It goes from Harman south to almost Park Ave - it does not include the Showcase Mall.

 

How much will they have to pay some of these tenants to break the lease. Chilis just opened and spent about 3 mil on the build out. I doubt they have a short lease. This will be interesting.