Monday, June 07, 2010

Harmon Ave Walgreens Coming to Strip

The 2.16 acre parcel of land on Harmon Ave. south of Planet Hollywood and across from Cosmopolitan and CityCenter is being developed. A 3 story, one hundred thousand square foot retail building will break ground in the next few months. Walgreens will be the "anchor" of the building.

It's definitely nice to see something done with this land. If you have walked past it lately you might have noticed that it is pretty barren and often trash laden. A Walgreens might not be what people expected, but this is a high traffic area, and Walgreens will no doubt do a lot of business. This will be the third Walgreens on the strip. There is one in front of Palazzo and another one just south of this proposed location near MGM Grand.

I always think it's an interesting decision to not include a casino in a new project on the strip. It seems like it would be ideal to develop this land into a small walk in casino similar to that of Casino Royale, O'Sheas or Bill's. You could incorporate a Walgreens into that type of project and still print money from the casino. Obviously there would need to be significantly more investment and planning involved for that type of project though, and perhaps the economy can't handle it yet.

Source: Las Vegas Sun.