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Clark County, Nevada Collects $63 Mil from Disposition of 11 Surplus Land Parcels

11/26/19

Clark County, Nevada sold 11 surplus land parcels in recent transactions that totaled $63 mil. The disposition of the parcels will provide Clark County with significant sale proceeds in addition to promoting private development at these highly-strategic locations.

The assets were sold through CREXi, the online real estate auction marketplace. Bidders included private investors, developers and multiple publicly traded builders and REITs.

Discussing the sales, Mike DeGiorgio, CREXi founder and CEO, commented “Despite strong reserve pricing set at appraised values, we were able to quickly generate 159 bids at or above reserve and obtain an average 106.7% of the reserve price on behalf of our client.” In June, the four-year-old company hired Bob Drury to lead the transactional division with Sonya Bokano joining soon after to lead division operations.




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