Gindi Capital Building Las Vegas Strip Retail Center

A rundown, low-key strip mall and outdoor food court located in the center of the Strip has been demolished. And now, Gindi Capital has started construction on BLVD, a retail development on the Las Vegas Strip. The 9.5-acre site, which incorporates several existing buildings, and a closed Hawaiian Marketplace, was purchased in 2019 for $172 million.

The property is slated to comprise 400,000 square feet of retail space and have 700 feet of street frontage. It will also include a 110,000-square-foot terrace meant for events. Plans aim for a diverse range of indoor and outdoor tenants to offer shopping and entertainment options. The two-story building will rise 54 feet.

Last year, Houston billionaire Tilman Fertitta paid $270 million for the 6.2-acre property directly north of Gindi’s Hawaiian Marketplace. Fertitta has proposed a 43-story resort hotel with 2,420 guest rooms. Along with a casino, the blueprint includes a spa, a convention center, and a concert space with seating for 2,500 people.