LAS VEGAS (AP) โ A major gift shop in Las Vegas has been purchased for $50 million.
The Las Vegas Review-Journal reports (http://bit.ly/2ekysmp ) that Bonanza Gift Shop's operator Haim Gabay purchased the store's Las Vegas Boulevard property on Friday for the large price. According to Clark County records, he was backed by a $25 million bank loan and a $10 million loan from the sellers.
The gift shop sits on 2 acres and claims to be the world's largest gift store.
The gift shop sale is just one of a number of expensive recent real estate deals in the area. This year investors have purchased The Shops at Crystals for $1.1 billion and a 50 percent stake in Fashion Show for $1.25 billion.
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Information from: Las Vegas Review-Journal, http://www.lvrj.com
