The property is at the northwest corner of Fort Apache Road and Hacienda Avenue and is in an area that is zoned MUD-2 for mixed-use zoning, according to Hama. He says that the deal closed after an escrow of only five days, explaining that the buyer is a local Las Vegas investor and was familiar with the site, meaning that very little due diligence needed to be done. The short escrow was offered to entice the lender that sold the property to take the low price, he adds.
The property attracted multiple offers and had been in escrow once before, Hama says. He says the buyer's plan is to hold the property until market conditions improve and sell it to a developer.
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