There were no bids for Cashman Field. What's next for the property?

LAS VEGAS (KTNV) — The auction for the Cashman Complex was closed on Tuesday, Nov. 19, with no bids.

The auction opened on Nov. 12.

The property is estimated to be worth $33,950,000.

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City of Las Vegas to auction off Cashman Complex in downtown Las Vegas

Jarah Wright

Although the auction received significant interest from different parties, according to the City of Las Vegas, prospective bidders wanted to include a clause allowing the highest bidder to seek land entitlements for a 90- to 120-day period and if unsuccessful in getting those land entitlements, would be able to be released from the purchase.

A land entitlement is the legal process of gaining all the necessary approvals to develop a piece of land.

Because of a lack of an entitlement clause, there were no bidders.

Now, the City Council will be briefed on feedback from the bidders. If an entitlement clause is allowed, the property will be put up for auction in January.

Proceeds from the sale of Cashman Field would go to the general fund of the City of Las Vegas.