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Station Casino Buys Land6 June 2003LAS VEGAS --Station Casinos Inc. has purchased about 18 acres of land next to its Wild Wild West Gambling Hall & Hotel on Tropicana Avenue in Las Vegas for about $28 million. The property includes several low-rise buildings totaling about 270,000 square feet of office and warehouse space. Station expects to earn about $2 million in net lease revenue from the property, the company said. Station expects to hold on to the land for lease revenue in the near term and hasn't yet made any decision about whether to develop the property, spokeswoman Lesley Pittman said. "This is an opportunity to purchase land around one of our existing properties, which we always think is a good idea because you can control what goes on there," she said. |