Station Casinos denies marketing Mount Rose Hwy. property for sale
Station Casinos denied that it is seeking offers for its remaining south Reno property after documentation showed that the company was preparing to put its land by Mount Rose Highway for sale.
"We are not actively marketing the site for sale," said spokeswoman Lori Nelson.
Documentation acquired by the Reno Gazette-Journal Tuesday evening showed that the company was in the early stages of seeking offers from interested parties for the 88-acre property near The Summit Reno. The land represents the final piece of property for Station Casinos in south Reno, where it also previously sold a 101-acre parcel in November 2014.
The information in the documentation was confirmed Wednesday morning by a representative of the commercial real estate firm overseeing the property. Colliers International in Reno also represented Station in the sale of several other properties in the area. Ted Stoever, senior vice president of land and investment properties for Colliers International in Reno, said pricing has yet to be set for the remaining south Reno land but it has garnered plenty of interest from various parties. The land sits right across The Summit as well as the planned Summit Club apartments.
“We’ve talked to master plan developers and also received a lot of interest from smaller developers to do a hotel site, fast food, small commercial and residential,” said Stoever, who was reached by phone Wednesday morning. “Eventually, it will be a true mixed-use site with a little bit of everything.”
The Gazette-Journal also reached out Wednesday morning to Station Casinos, which provided its response in the afternoon. Colliers International is declining further comment.
The land on Mount Rose Highway and South Virginia Street is the last piece of property owned by Las Vegas-based Station Casinos in Reno aside from the planned casino site across from the Reno-Sparks Convention Center.
The company, which acquired several properties in Reno as part of big development plans in the area prior to the recession, has already sold a 101-acre site in south Reno as well as five buildings near the convention center. This leaves the planned Station Casinos across from the Reno-Sparks Convention Center as the only remaining property for the company in Reno once the 88-acre land is sold.
Although it has downsized its original plans for Northern Nevada, Station is moving forward with its planned casino. The facility recently received approval from the Reno City Planning Commission and also survived a challenge from Atlantis parent company Monarch Casino and Resort at a city council meeting in early November. Plans for the facility include a sports book, sports bar, bowling alley, cinema and four restaurants.