A Small Plot on the Las Vegas Strip Sells for $80 Million

By Eva Ivanova | Originally published in the Gambling News | June 21, 2021

Brett Torino Buys a Small Plot on the Strip for $80 Million

Las Vegas developer Brett Torino started talks to buy a site on the Las Vegas Strip a year ago. Now he has a plot in CityCenter for $80 million and plans to turn it into a retail complex.

Torino, who has worked in Las Vegas since the 1970s, acquired 2 acres in the southwest corner of Las Vegas Boulevard and Harmon Avenue, next to Shops and Crystals (a luxurious mall). MGM Resorts International and its partner in CityCenter complex, Dubai World, a government-owned holding company, sold the small plot. Torino partnered up New York developer Flag Luxury Group on the deal, which was announced on April 26 and closed on June 8.

The site was previously home to Harmon hotel tower and is located across the intersection from Harmon Corner with a three-story retail complex developed by Torino and Flag Luxury. When commenting on the investment, Torino said, “You’re seeing this recovery play out quickly in this market.” Daily life would soon return to normal and Southern Nevada would become the top tourist destination it once was.

Torino plans to build a four-level retain complex, he calls Project63, because he and Paul Kanavos, CEO and chairman of Flag Luxury, were 63 when they named it. However, he said the name could change. The project would span around 200,000 sq. ft. The developers expect to open it by September 2022.

Torino Shared His Optimism for the Strip with Review-Journal

In his interview for Review-Journal, Torino said that the 2 acres on the site are not entirely usable. However, there is the whole “underworld of the CityCenter below the property.” He said that, although the plot is expensive, it comes with a ground level in a well-developed complex with parking utilities, distribution facilities, and more.

Torino said he has known MGM President and CEO Bill Hornbuckle for 40 years, and he asked him for a plot on his site. He connected him with his partner Dubai World and the two parties started discussions. Torino said that he never thought they would sell it.

Torino is optimistic about the future of the Strip. He said that during the pandemic, although they needed help, all of their tenants stayed open. Now the worst is over, and the industry is coming back strong. Torino added that previously they made a third and a half of their usual sales, but now they are back to where they were in pre-pandemic times.

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A September Moment with the Founder
In honor of National Childhood Cancer Awareness Month, we are immensely proud of our longstanding partnership of over two decades with @nvccf. Together, we have diligently championed the cause of raising awareness about this illness and have been dedicated to advancing services provided to the children and their families. Over the years, our collaborative efforts have resulted in the development of educational services for children undergoing treatments and the establishment of a refuge through the summer camps at Torino Ranch, where cherished memories are created, offering a respite from the challenges faced by these young fighters. @kariofmanycolors @celenahaas1
School starts on Aug. 7 and the @bretttorinofoundation Education Services of @nvccf is there every step of the way. This program gives diagnosed children the opportunity to continue their education while in treatment, recovery, and post treatment with Brett Torino Foundation Learning Pod at @nvccf, Brett Torino Foundation “Heart of Education” Scholarship, School Re-Entry Team, Advocacy, Back to School in Style, C.A.P.S. PROGRAM, and more.

Please call Mrs. K at NVCCF at 702.735.8434 or email her at nicki@nvccf.org for more information and education support. This program is available to critically ill children (K-12) diagnosed with life threatening illnesses including cancer, HIV/AIDS, sickle cell, renal, blood, and immunologic diseases, their siblings, as well as to children whose parents are diagnosed with cancer and registered with The Caring Place Program.
🎉 Congratulations to @nvccf Jeff, Stephanie, and the entire team! What a remarkable honor, and we couldn't be more proud to collaborate with you on Camp Cartwheel and the BTF educational services and programs throughout the year. Your dedication to the children and the Las Vegas Community is truly commendable. Thank you, NVCCF, for making a positive impact on so many lives! 🙌🏼 #givingback
A round of applause for another captivating camp experience with @sunshinenevadaorg! Immerse yourself in the world of camp I AM and TLC through this informative video, capturing the essence of camp life. While camp may be seen as a typical experience for some children, for those living with autism, it is an extraordinary and transformative journey. From engaging activities to forming meaningful connections with others and nature, both the campers and volunteers have created countless cherished memories. Stay connected with us throughout the year for captivating camp images on our social media, pages and website.
ICYMI: Proud to partner with @saveredrock and other local groups @centennial_subaru @republic_services and more for Lovell Canyon clean up with nearly 100 volunteers. We are committed to the continuous preservation and beauty of our nature lands.
Thrilled to host @Sunshinenevadaorg summer camp at Torino Ranch helping those living with autism, we have waited more than 3 years to see all these smiling faces of the children. Can’t wait to host you all again next year! #givingback
It takes a village to support children with critical illnesses, to wrap services around them, and ensure that they and their families feel deeply supported. Summer camp fun not only brings joy but also instills strength and courage within them, empowering them to face medical challenges throughout the year. Together, we form a close-knit family, united in our dedication to their well-being. ❤️❤️❤️❤️❤️ @nvccf @8newsnow @8newsnowkirsten @kirsten.joyce
Last week, Brett Torino Foundation and @nvccf Nevada Childhood Cancer Foundation held the 27th annual Camp Cartwheel Summer Camp at Torino Ranch for critically ill children diagnosed with cancer, or other life-threatening illnesses. Over the decades many thousands of children have experienced the ranch since 1999, the foundation is committed to those we serve.
It’s beginning to look a lot like 🎄at the ranch. 
#happyholidays #glitteringlights #night #winter #wonderland #holidaylights
Have you visited Lovell Canyon? 🏔

Our team has worked for years with a specialized task force to make this area safe and environmentally healthy. We’re incredibly proud of the clean up and preservation work we’ve achieved. 

Come see this natural wonder!
Hoping your plates and hearts are bountiful today. Happy Thanksgiving 🍁
Now is the time of year for gratitude. What are you grateful for? 
Be kind to one another, the environment, and all living creatures. 🙏