The developer known for building gigantic malls in the U.S. and Canada has purchased a six-acre plot of land on the Las Vegas Strip for $180 million.

There is little more than speculation about what the company may do with the land, which used to house the historic La Concha Motel.

Triple Five is known for building the world’s largest mall in Edmonton, Canada, and the Mall of America in Minnesota, but the six-acre plot is too small for a similar project in Las Vegas. The company also has approval to build the Great Mall of Las Vegas off the Strip, though it has yet to receive the necessary construction projects to begin work. That project will include 900 condominium units, office space and a 1.6 million square foot mall.

Speculation has the company either buying the land simply as an investment—not a bad decision considering the escalating cost of Strip acreage—or possibly looking to acquire neighboring parcels to bring its mall to the Strip.

Few expects that the company will attempt to make a foray into gaming.

By Casino Connection Staff

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