Approve the purchase of the Ashley Campus which includes two (2) buildings addressed as 91 South Martin Luther King Boulevard and 1401 Mineral Avenue, Las Vegas, NV 89106 (Assessor Parcel Numbers 139-33-510-002, 139-33-510-004, 139-33-510-005, 139-33-510-009 and 139-28-810-001) which includes one (1) retail/showroom/warehouse building (±104,931 square feet) and one (1) office building (±41,102 square feet) on ±9.44 acres of fully developed land along with three (3) billboard and two (2) cell tower leases; fund the purchase price of $26,650,000, $15,000 for closing costs; fund $5,000,000 for future tenant improvements; ratify the appraisal dated February 5, 2025 by Colliers International Valuations and Advisory Services; approve and authorize the Director of Real Property Management (Director) or her designee to sign the lease agreement (Lease) between Ashley Real Estate LLC (Ashley) and Clark County for Ashley to lease 91 South Martin Luther King Boulevard after close of escrow; and authorize the Director or her designee to sign escrow documents and any other related documents to complete the purchase transaction and for management of the Lease. (For possible action)

Consent Passed Introduced March 6, 2025

What this record is

Read automatically from the title of the official record. The source document below is authoritative.