Rightpath Limited Development Group finalizes $132 million Ground Lease with Clark County Department of Aviation

LAS VEGAS - Rightpath Limited Development Group has finalized a 30-year lease with the Clark County Department of Aviation for the development of a private air terminal and hangar development at McCarran International Airport in Las Vegas.

The completed ground lease follows a high-profile public auction conducted by the Clark County Commission in December 2007. Rightpath successfully outbid several formidable competitors with substantial holdings in Las Vegas – including Wynn Las Vegas, Marnell Corraro Associates and Las Vegas Sands Corporation for the right to lease and develop the prized 13.09 acres at the McCarran International Airport valued at $4.4 million per year.

Richard Huelsman of RE/MAX Millennium Commercial Properties and Al Kingham of Tower Realty Group guided Rightpath through the 96 total bids that were required to secure the exclusive ground lease rights.

"On behalf of Rightpath and my partners, Danny Hendon and Robert Banovac, we are extremely excited to have the opportunity to develop the last remaining parcel at McCarran," said partner Rick Burton.

"This is a fantastic opportunity for our company to expand our aviation holdings at one of the busiest airports in one of the most exciting cities in the world," said partner Danny Hendon.