Furniture store sells Las Vegas property to county for $26.6M

Clark County is expanding its real estate footprint with the purchase of an Ashley Furniture location in the central valley for about $26.6 million.

The Clark County Commission on Tuesday approved the deal for the 9.4 acres, which includes two buildings, three billboards and two cell-tower leases near Martin Luther King Boulevard and Interstate 11, also known as U.S. Highway 95.

The board also earmarked an additional $5 million for “future tenant improvements,” according to the county.

The location was acquired for “long-term space planning needs for county departments including the new location of the Southern Nevada Children’s Advocacy Center,” according to the county.

After the sale closes, the county will then lease back the property to the furniture store for a short period of time until it finishes building its new store.

Ashley Furniture announced earlier this year that it was opening its U.S. flagship near rival Ikea in the southwest valley.

The 273,222-square-foot project, set to open in May, will include a showroom and distribution center, according to the company.

The Wisconsin-based company bought the 20 acres, near Sunset Road and the 215 Beltway, from Walker Furniture and a neighboring land owner after the competitor scrapped plans to build its own store there.

Contact Ricardo Torres-Cortez at rtorres@reviewjournal.com.