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Avison Young selected to market portion of the Estate of Tony Hsieh consisting of nine commercial properties in downtown Las Vegas
May 23, 2023
Las Vegas, NV – Avison Young announced today it has been selected by the Estate of Tony Hsieh to market a portfolio of nine properties in the Fremont East District of downtown Las Vegas. The portfolio, which consists of a portion of the Estate of Tony Hsieh, a late American internet entrepreneur, Zappos.com CEO, and venture capitalist, is part of the City of Las Vegas’ Vision 2045 – Downtown Las Vegas Masterplan.
Avison Young Principals Chris Lexis, Joe Leavitt, James Griffis, Jonathan Larsen, and Chandler Larson are responsible for marketing the portfolio which can be sold together, in groups or on an individual basis.
From 2009 until 2020, Tony Hsieh spearheaded a major redevelopment and revitalization project in downtown via DTP Companies (DTP).
“Our goal throughout the portfolio marketing process is to maintain the work that has been done to date by DTP, and most importantly, to move forward Tony Hsieh’s vision for spurring development in downtown Las Vegas by striving to identify buyers that align with that vision,” said Lexis. “We believe that these properties present unique opportunities for buyers interested in expanding or establishing themselves in downtown Las Vegas. ”Tony was passionate about revitalizing the Las Vegas community by creating a sense of connectedness and community and had a wide-reaching, positive impact on Las Vegas,” added Leavitt. “While DTP no longer has the benefit of Tony’s leadership, the work he began has led to revitalization, additional employment, and greater foot traffic and footprint in the area. We believe the right buyers can ensure these assets reach their full potential as originally envisioned by Tony.
These assets include both land and improved property. Some of these assets are leased to operating businesses and other assets are vacant. A number of the assets are ideal for redevelopment as part of Vision 2045. The nine properties currently being listed by Avison Young include:
300 N Las Vegas Blvd – a 12,332-square foot (sf) industrial property situated on a .61-acre parcel.
7-Eleven - 228 N Las Vegas Blvd – a convenience store and gas station situated on .54 acres
515 and 521 Stewart Ave – three parcels with two freestanding automotive buildings totaling 4,976 sf on a total of .47 acres
208 N Las Vegas Blvd – parking lot situated on .62 acres
Downtown Plaza - 616 E Carson Ave – a fully occupied, four-tenant 8,586-sf retail property situated on .25 acres
218 S 6th St, 224 S 6th St – a vacant lot situated on .41 acres on a site formerly occupied by the Beverly Palms Hotel
217 S 6th St – a .24-acre parcel used as a parking lot
Former Andre's Restaurant - 401 S 6th, 403 S 6th – a vacant restaurant building on two separate parcels totaling .33 acres
333 S 6th St – a 17,552-sf vacant office building situated on .48 acres
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate withan empowered partner who is invested in their success. Our integrated talent realizesthe full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.Avison Young is a 2023 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 12 consecutive years.