![]() ![]() Just across the street, the final portion of Showcase Mall was finally sold off after a yearlong effort by Eli Gindi, a New York real estate investor, along with the Nakash family - owners of the Jordache Jeans label. The $53.8 million sale of the Hooter’s Hotel was also purchased well below replacement costs, he said. “Penn National’s case in buying the Tropicana allowed them to own an asset on the Strip at a price far less than buying land and building a project like Crown and Resorts World are going to be doing, with a multibillion dollar project,” said Michael Parks, first vice president of CBRE’s global gaming group in Las Vegas. Interest in the Strip by outside investors was definite last year, especially in existing product such as Tropicana and its neighbor Hooters Hotel. ![]() The biggest deal of 2015 was Penn National’s $360 million purchase of the Tropicana. From deep in the heart of the Strip area and along adjacent Paradise Road, investors saw opportunity and moved. ![]() The Las Vegas market saw its share of healthy real estate deals during 2015 with the resort corridor predictably the center for the largest transactions. The sale of the Showcase Mall on the Strip was among the largest property transactions of 2015. ![]()
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