Siegel Suites owner buys building near Las Vegas Strip
With signs advertising stripper gear, liquor and a strip club, Steve Siegel’s newly acquired commercial building has a very Vegas feel.
It also had escort services in upstairs offices, and homeless people would shower out back using hose bibbs, said Siegel, who wants to take the property in a new direction.
Siegel, founder of Las Vegas real estate firm The Siegel Group, acquired a 62,000-square-foot commercial building on Sammy Davis Jr. Drive, right behind Resorts World Las Vegas, and a vacant 4,500-square-foot building next door for $8.35 million in late May.
He renamed the property Siegel Plaza West and said he wants to turn it into a hub for eateries.
Casino workers, taxi drivers and others regularly drive on Sammy Davis Jr., but the street is light on restaurant options, according to Siegel.
“The center has a lot of potential,” he told the Review-Journal last month.
Michael Crandall, senior vice president at The Siegel Group, said in an email the property’s tenants include the Can Can Room strip club, a liquor store, a Thai restaurant, massage parlors and “some clothing stores for the entertainment industry.”
Siegel said the escort services were on month-to-month leases, and when he took ownership of the property, he told them they had to move out. He also said if other tenants weren’t a right fit, he wouldn’t renew their contracts.
Siegel’s other holdings include the Siegel Suites chain of low-priced apartments.
Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.