Developer buys Boulevard mall from lenders for $54.5 million

The Boulevard mall, a once-thriving Las Vegas shopping hub that slid in popularity and financial health over the years, has been sold to local developer Roland Sansone.

The $54.5 million deal closed on Nov. 21, property records show.

Brokers with CBRE Group, who listed the property this summer at a price of “best offer,” announced the sale today.

The 1.2 million-square-foot mall sits on 75 acres of land, but the Sansone Cos. acquired 56 acres, or about 780,400 square feet of space. Retailers Sears and Macy’s own their properties.

Sansone, who could not be reached for comment, wants more restaurants and some kind of entertainment venue at the mall, CBRE Senior Vice President Charles Moore said.

He has plenty of space to fill. The mall, two miles east of the Strip, is 75 percent leased, Moore said.

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