Boston firm buys six buildings close to Allegiant Stadium



Linkedin Twitter

The making of Allegiant Stadium - August 2019 update Image: Michael Quine / Las Vegas Review-Journal

Boston real estate firm – TA Realty – has bought several buildings near the Raiders Stadium keeping in mind the fact that once the stadium becomes operational, it will boost rent growth in the area.

The realty firm bought six buildings within a mile of the stadium which has recently been named Allegiant. Property records show that the total deal was for $ 51.1 million and the bulk purchase closed on July 22 last.

The Raiders’ 65,000-seat domed football stadium near the Strip is all slated to open next year and the arena has generated lot of interest among the people – especially in the industrial area. With an eye on the sports venue, developers want to put up projects in the immediate vicinity of the stadium.

Colliers International broker Dan Doherty informed that TA Realty wants to treat its newly bought buildings as industrial properties with rent-paying tenants. Doherty further said that the location would offer “very favorable rent growth”.

Overall, there hasn’t been a surge in real estate sales right near the Allegiant Stadium, but real estate pros feel that more deals would take place once the NFL team gets closer to game day.

However, just because the Raiders are coming to Allegiant Stadium does not mean that the area is a safe bet for developers. Cushman & Wakefield broker Travis Noack, an industrial-property specialist, has been quoted as saying that a lot of landlords were not ready to risk “leaving any money on the table”.

Continue to follow Coliseum for latest updates on venues business news. Coliseum is dedicated towards building the best global community of sports and entertainment venue executives and professionals creating better and more profitable venues.

Coliseum facilitates a dialogue between stadiums, arenas, clubs, leagues and experts and enables them to learn from each other while establishing relationships. Coliseum’s digital 365Coliseum Business Center is a vast pool of resource for the stadium and arena industry world-wide.

Watch 150 member-exclusive videos with valuable tips for your venue



« Previous News:
» Next News:



More News

US stadiums as vaccination centers

US stadia to the fore as vaccine centers

Published: January 15, 2021

Citi Field, Gillette Stadium and Inter Miami CF Stadium – all in the United States –... » Read more

US baseball stadium in Nashville renting out suits

US baseball teams renting out stadium suites

Published: January 15, 2021

The American professional baseball team High Point Rockers (independent; Atlantic League) and the... » Read more

Wembley to care for Londoners during covid pandemic

Cops train in Wembley to aid COVID-struck

Published: January 15, 2021

The United Kingdom is facing the worst-ever situation in the second wave of coronavirus as deaths... » Read more

Angel City FC will play in Banc of California Stadium

Banc of California home of Angel City FC

Published: January 15, 2021

US-based Angel City FC, Los Angeles’ newest National Women’s Soccer League’s (NWSL’s)... » Read more


Receive global sports venue NEWS twice a week in your inbox