The signing had been expected--Mills and Mack-Cali won the redevelopment project in a competitive bidding process earlier this year, beating out finalists Hartz Mountain Industries and Westfield. One possible hitch is that legal action over the selection process, initiated by Hartz, is still pending.

Unlike the other finalists, the Mills/Mack-Cali project will retain the Continental Airlines Arena, home to the NBA Nets and NHL Devils, at least for now. The development partners say they are keeping their options open on the 20,000-seat venue, and its ultimate fate could rest with the possible sale and/or relocation of the two teams, as well as a potential replacement arena in downtown Newark (see earlier stories).

In any case, Meadowlands Xanadu will add plenty of entertainment to the site. Mills is responsible for the "fun" part of the project, including the country's first indoor Alpine ski resort, plus an indoor Formula One racing venue, a minor league baseball stadium, an extreme sports park and a variety of other family entertainment uses. A retail component is also part of the mix.

Recommended For You

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.