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p1mpdogg · 07-28-2007, 07:07 PM

CVS Stranglehold
I'm sure I'm not the only one who has noticed this, but it's never been mentioned in any article regarding CityCenter (CC). Every rendering and model shows the CVS Pharmacy site (which is nestled between the Monte Carlo and CC) intact. Although I have not confirmed this, it seems that CVS won't sell to the MGM/Mirage monster. CVS purchased the 0.83 acres in March, 2002 for $4 million. Based on the $20 million per acre that strip property is now worth, this parcel is worth $16.6 million, which would be a nice profit for CVS and a spit-in-the-bucket for MGM MIRAGE. I know MGM wants this piece to fill out the CC project. Sales must be great for CVS to hold on to this coveted site. Maybe MGM MIRAGE will offer CVS a reduced rent, prime location within CC in exchange for the property. Time will tell.

07-28-2007, 07:07 PM
p1mpdogg Too lazy to set a custom title Join Date: Nov 2002 Posts: 16,714	CVS Stranglehold I'm sure I'm not the only one who has noticed this, but it's never been mentioned in any article regarding CityCenter (CC). Every rendering and model shows the CVS Pharmacy site (which is nestled between the Monte Carlo and CC) intact. Although I have not confirmed this, it seems that CVS won't sell to the MGM/Mirage monster. CVS purchased the 0.83 acres in March, 2002 for $4 million. Based on the $20 million per acre that strip property is now worth, this parcel is worth $16.6 million, which would be a nice profit for CVS and a spit-in-the-bucket for MGM MIRAGE. I know MGM wants this piece to fill out the CC project. Sales must be great for CVS to hold on to this coveted site. Maybe MGM MIRAGE will offer CVS a reduced rent, prime location within CC in exchange for the property. Time will tell. __________________ A fast fortune is easy to earn! Just go with a winner!