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LAS VEGAS ~ In a recent announcement, The Siegel Group, a prominent real estate investment and management company, revealed their latest acquisition in downtown Las Vegas. The company has purchased 517, 523 and 525 Fremont Street and 100 S. 6th Street in an off-market transaction for a total of $11 million in cash.
The properties sit on half a city block along Fremont Street, between Las Vegas Boulevard and 6th Street. They consist of four contiguous retail spaces spanning over 19,000 square feet, all currently occupied by successful restaurant, bar, and nightclub tenants. This prime location is known for its vibrant nightlife scene and is just steps away from the popular Fremont Street Experience, which attracts over 24 million visitors annually.
The Siegel Group has been actively involved in the revitalization of downtown Las Vegas since 2004. One of their major contributions was the acquisition of the struggling Gold Spike Hotel & Casino and adjoining Travel Inn Motel in 2008. The company renovated and combined the two properties to create the first boutique hotel-casino in downtown Las Vegas. They later sold it to Tony Hsieh. Additionally, The Siegel Group owns and operates numerous Siegel Suites® apartment communities, retail spaces, and development properties along Fremont Street and the surrounding area.
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President of The Siegel Group, Stephen Siegel expressed his excitement about this latest acquisition stating that they were able to acquire a "trophy generational asset" in one of the most unique areas of Las Vegas. He also mentioned that opportunities to purchase properties in this highly sought-after location are extremely rare. The company takes pride in keeping these landmarks under local ownership and looks forward to expanding their presence in downtown Las Vegas.
The Siegel Group is actively seeking value-added properties across all asset classes throughout the United States. They have a reputation for moving quickly and closing transactions without any financing contingencies. Property owners who are interested in submitting their properties for consideration can email properties@siegelcompanies.com.
With this latest acquisition, The Siegel Group continues to solidify their presence in downtown Las Vegas and their commitment to the revitalization of the area. As they actively seek out new opportunities, it is clear that they are dedicated to making a positive impact on the community and its economy.
The properties sit on half a city block along Fremont Street, between Las Vegas Boulevard and 6th Street. They consist of four contiguous retail spaces spanning over 19,000 square feet, all currently occupied by successful restaurant, bar, and nightclub tenants. This prime location is known for its vibrant nightlife scene and is just steps away from the popular Fremont Street Experience, which attracts over 24 million visitors annually.
The Siegel Group has been actively involved in the revitalization of downtown Las Vegas since 2004. One of their major contributions was the acquisition of the struggling Gold Spike Hotel & Casino and adjoining Travel Inn Motel in 2008. The company renovated and combined the two properties to create the first boutique hotel-casino in downtown Las Vegas. They later sold it to Tony Hsieh. Additionally, The Siegel Group owns and operates numerous Siegel Suites® apartment communities, retail spaces, and development properties along Fremont Street and the surrounding area.
More on nvtip.com
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President of The Siegel Group, Stephen Siegel expressed his excitement about this latest acquisition stating that they were able to acquire a "trophy generational asset" in one of the most unique areas of Las Vegas. He also mentioned that opportunities to purchase properties in this highly sought-after location are extremely rare. The company takes pride in keeping these landmarks under local ownership and looks forward to expanding their presence in downtown Las Vegas.
The Siegel Group is actively seeking value-added properties across all asset classes throughout the United States. They have a reputation for moving quickly and closing transactions without any financing contingencies. Property owners who are interested in submitting their properties for consideration can email properties@siegelcompanies.com.
With this latest acquisition, The Siegel Group continues to solidify their presence in downtown Las Vegas and their commitment to the revitalization of the area. As they actively seek out new opportunities, it is clear that they are dedicated to making a positive impact on the community and its economy.
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