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Miracle Mile Trades Hands for $1.1B
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.
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- ◦Sale/Acquisition
