X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LAS VEGAS-General Growth Properties says Crate & Barrel will open a 34,000-sf, two-level store at Summerlin Centre, the 100-acre future “downtown” of Summerlin, a sprawling master-planned community on the western rim of the Las Vegas Valley. Neither GGP nor Crate & Barrel would provide any specifics with regard to their agreement.

The news comes two months after Nordstrom signed on to anchor the 100-acre development with a 149,000-sf store. Both retailers are scheduled to be up and running prior to the 2009 holiday shopping season.

Summerlin Centre will rise northeast of the intersection of the 215 Beltway and Sahara Avenue. Plans include 1.4 million sf of retail shopping and dining that will be followed by 5,500 housing units, a 250-room four-star hotel and at least one million sf of office space. Additional residential development will occur on 300 adjoining acres that already includes the new Red Rock Casino, Resort and Spa.

Crate & Barrel CEO Gordon Segal says in a prepared statement that the company has been looking for a location in the Las Vegas Valley for several years. Nordstrom is opening its second store in the market. The retailer opened a store at Fashion Show Mall — another General Growth-owned- and-managed shopping center — in 2002. Nordstrom also operates one of its Rack outlet stores in Las Vegas.

Development of Summerlin began in 1990 and is scheduled for completion in 2020. The master developer is Howard Hughes Corp., which was acquired by GGP in 2004. Currently, more than 92,000 people live in 37,000 homes and apartments in Summerlin, which includes 19 schools, nine golf courses, a dozen houses of worship, about 100 parks and a 120-mile Summerlin Trail.

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.