Find in the news:
BY COUNTRY

Las Vegas Retail Center Sold for One Billion



In an equal stakes joint venture, Simon Property Group and Invesco Real Estate have purchased The Shops at Crystals in Las Vegas.
The deal is valued at nearly 1.1 billion dollars. Simon Property Group will lease and manage the approximately 350,000 square feet of high-end real estate.

Lying directly at the entryway of the CityCenter, complex, a 9 billion dollar MGM property, The Shops at Crystals is already host to a number of top-tier retail destinations. In addition to 10 luxury brand flagship stores, another 30 luxury retailers maintain a presence in the complex. Simon Property Group will seek to maintain and expand this unique collection of business tenants in a highly volatile market.

According to the Las Vegas Convention and Visitors Authority, the average amount spent on shopping by a typical Las Vegas visitor has declined in recent years. With tourists spending less Simon Property Group will need to convince their existing tenants to remain committed; while somehow attracting a new tenant base as well.

Invesco Real Estate and Simon Property Group can take comfort in the knowledge that while overall shopping expenditures are down among Las Vegas visitors, casino gambling has seen a steady upward trend. With an innovative strategy, the partners may be able to lure visitors away from the gaming tables and into the malls. Having a number of very prestigious brands available in a location adjacent to a major casino may be just enough of an incentive for visitors to consider picking up an expensive reminder of their time in Las Vegas.

This billion dollar deal represents an unprecedented opportunity for real estate professionals, Serving the needs of potential tenants and abutters will provide a steady stream of business in an otherwise flat market. The prestigious name and location of The Shops at Crystal are a strong draw for any brand conscious business entity.

Ultimately, this deal proves that the Las Vegas real estate sector remains an attractive option for large corporations and other monied interests. Putting their capital on the line in this way signals confidence in Las Vegas for the long term. At the very least this deal will create strong investor interest in Las Vegas real estate. This joint venture may indeed signal that many similar deals are on the horizon. 

More about shopping malls in the USA



YESTERDAY, China:
The Chinese online retail giant has officially introduced a logistics robot that will deliver goods to consumers.
YESTERDAY, USA:
The retailer's trademark will be called Free Assembly, under which customers will be able to buy clothes for both men and women.
Sep 18, 2020, Taiwan:
Dutch studio MVRDV has transformed an abandoned shopping center in Taiwan into an unusual public space.
Sep 18, 2020, Israel:
In Israel, a national quarantine begins to operate again from September 18, 2020.
Sep 18, 2020, Sweden:
Shoppers will select goods from different stores in the mall on one website and then pick them up conveniently.
Sep 17, 2020, Spain:
The outlet begins its countdown and fires the starting signal during the "Digital Lighting" event.
Friend
and Follow
Cabot Circus GLA:990 280 SF
ADDRESS: Glass House, Bristol BS1 3BX
United Kingdom . Bristol
Cabot Circus
I Viali GLA:452 084 SF
ADDRESS: Via Dei Cacciatori 111 - 10042 Nichelino TO - Piemonte
Italy . Torino
I Viali
Arkadia GLA:1 184 030 SF
ADDRESS: Aleja Jana Pawla II 82, 00-175
Poland . Warsaw
Arkadia
Queens Place GLA:440 000 SF
ADDRESS: 88-01 Queens Boulevard Elmhurst, NY 11373
USA . New York
Queens Place


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us