October 18, 2016
The Miracle Mile Shops, a massive, 200-story indoor mall within the Planet Hollywood Resort on the Strip, has traded hands. Institutional Mall Investors LLC, a joint venture consisting of Miller Capital Advisory Inc. and the California Public Employees’ Retirement System, acquired the retail center for an estimated $1.1 billion. Tristar Capital and RFR Holdings were the sellers of the asset on South Las Vegas Boulevard.
The 475,000-square-foot mall opened in August 2000 as Desert Passage. Tristar and RFR acquired the mall in 2004. Tenants include PBR Rock Bar & Grill, Buffalo Wild Wings, MAC Cosmetics, H&M, French Connection, Sephora, Garrett Popcorn Shops, Guess, Nacho Daddy, Cabo Wabo Cantina, Sin City Brewing Co., Club Tattoo, and Flight 23 at Footaction.
For comments, questions or concerns, please contact Amy Sorter