Developer buys land near Allegiant Stadium for future In-N-Out
An Arizona developer has purchased a small plot across from Allegiant Stadium for big bucks, with plans to build an In-N-Out Burger.
Diversified Partners founder Walt Brown Jr. acquired a vacant 1.8-acre parcel at the southeast corner of Russell Road and Polaris Avenue, just south of the stadium, for $10.8 million. The sale, by EJM Development Co., closed Dec. 28, property records show.
It amounts to $6 million per acre, a hefty price that far outweighs land deals in the suburbs but could be expected a mile or so east of the stadium on the Strip.
“It is an absolute flagship, legacy piece of real estate,” Brown told the Review-Journal.
The property was used for stadium parking when the venue was under construction, and, in theory, is a highly visible spot with potential for masses of hungry people walking by.
Crowds of pedestrians, however, are unlikely to materialize until the Raiders start allowing fans inside their $2 billion stadium for football games, or other ticketed events start being held at the 65,000-seat venue, presumably once the still-raging coronavirus pandemic is on its way out.
An attempt to interview an In-N-Out representative for this story was unsuccessful, as the company instead emailed a previously issued statement by Carl Arena, vice president of real estate and development, in which he stated that the burger chain has been “working on a possible site for a future restaurant in Las Vegas that is expected to have some ‘retro’ design themes.”
The process is in the early stages, and it would be “premature” to comment on a project timeline, he said in the statement.
Plans call for the project to span 2,717 square feet and feature two drive-thru lanes, outdoor dining and a walk-up window for customers, Clark County documents show. The eatery will not include indoor dining, the documents say.
Brown confirmed that he would develop the restaurant and be its landlord.
Efforts to speak with EJM were unsuccessful.
The In-N-Out is among the first new projects planned in the county-designated Stadium District, a mostly industrial area where officials hope to lure entertainment and hospitality ventures.
Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.
