A major gift shop in Las Vegas has been purchased for $50 million.
The Las Vegas Review-Journal reports that Bonanza Gift Shop's operator Haim Gabay purchased the store's Las Vegas Boulevard property on Friday for the large price. According to Clark County records, he was backed by a $25 million bank loan and a $10 million loan from the sellers.
The gift shop sits on 2 acres and claims to be the world's largest gift store.
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The gift shop sale is just one of a number of expensive recent real estate deals in the area. This year investors have purchased The Shops at Crystals for $1.1 billion and a 50 percent stake in Fashion Show for $1.25 billion.