Real estate:

MGM sells property near M Resort; owners undecided about use

MGM Resorts International has sold about 90 acres of land south of Henderson off Interstate 15.

The $11.75 million deal, which closed last month, was a speculative purchase, and the buyers do not have any immediate plans to develop the property, said Colliers International broker Dan Doherty, who worked on the deal.

Operating under the name Sloan Ventures 90 LLC, the investors include Colliers land broker Scott Gragson, Doherty said.

The property is at Sloan Road and Las Vegas Boulevard, a few miles south of the M Resort.

The new owners are exploring “alternative” entertainment uses for the site, but it “remains to be seen what’s going to end up there,” Doherty said.