HOUSE_OVERSIGHT_018800.jpg
2.27 MB
Extraction Summary
5
People
43
Organizations
8
Locations
7
Events
5
Relationships
0
Quotes
Document Information
Type:
Real estate market analysis report page, likely from an appraisal or investment prospectus, submitted as part of a house oversight committee investigation.
File Size:
2.27 MB
Summary
This document, page 58 from a House Oversight collection, provides a detailed real estate analysis of four major Las Vegas retail centers: Forum Shops at Caesars Palace, The Grand Canal Shoppes, The Shoppes at Palazzo, and Fashion Show Mall. It outlines their development history, size, key tenants, occupancy rates, and financial metrics like sales and rent per square foot. The information suggests the document was created shortly after January 2008 and focuses purely on commercial real estate data.
People (5)
| Name | Role | Context |
|---|---|---|
| Emeril Lagasse | Restaurateur |
Owner of Emeril Lagasse's Table 10, an upscale restaurant located in The Shoppes at Palazzo.
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| Wolfgang Puck | Restaurateur |
Owner of Wolfgang Puck's Cut, an upscale restaurant located in The Shoppes at Palazzo.
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| Shimon Bokovza | Restaurateur |
Owner of Shimon Bokovza's Sushi Samba, an upscale restaurant located in The Shoppes at Palazzo.
|
| John Varvatos | Brand/Designer |
A specialty tenant at the Forum Shops at Caesars Palace.
|
| Harry Winston | Brand/Jeweler |
A specialty tenant at the Forum Shops at Caesars Palace.
|
Organizations (43)
Timeline (7 events)
Locations (8)
| Location | Context |
|---|---|
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The city where all mentioned properties are located.
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The main thoroughfare where the retail centers are located.
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Cross-street for the Forum Shops at Caesars Palace.
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A major specialty retail development.
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A retail center at the Venetian.
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A retail center within the Palazzo Resort.
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A large retail mall on the Strip.
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The country whose "essence" The Shoppes at Palazzo is intended to capture.
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Relationships (5)
The Shoppes at Palazzo is situated within the Palazzo Resort and is an expansion of the highly successful Grand Canal Shoppes.
Upscale restaurants include Emeril Lagasse's Table 10... [at The Shoppes at Palazzo].
...150 specialty tenants that include... Jimmy Choo...
...features many premier luxury brands including Jimmy Choo...
Forum Shops at Caesars Palace... between Caesars Palace and The Mirage...
Full Extracted Text
Complete text extracted from the document (3,280 characters)
58
5. FORUM SHOPS AT CAESARS PALACE
Forum Shops at Caesars Palace, originally
constructed in 1992 and expanded in phases
during 1997 and 2004, was the first major
specialty retail development on Las Vegas
Boulevard. Forum Shops has a prominent
position on the Strip, situated on the west
side of Las Vegas Boulevard, north of
Flamingo Road, between Caesars Palace
and The Mirage, and is configured with a
highly "themed" retail and entertainment
environment. The property is 99% leased,
attracting an estimated 22 million visitors
per year and is generally considered the
most dominant retail center on the Strip
with 150 specialty tenants that include
Anthropologie, Jimmy Choo, Coach, Louis
Vuitton, Montblanc, John Varvatos, Victoria's
Secret, Versace, Bvlgari, Cartier, De Beers,
Harry Winston, Tiffany & Co., Abercrombie
& Fitch, Armani Exchange, Brooks Brothers,
Zegna and Cheesecake Factory. Tenant
sales at Forum Shops at Ceasars Palace are
approximately $1,000 to $1,200 per square
foot with average rents ranging from $100 to
$125 per square foot.
Forum Shops at Caesars Palace, originally
constructed in 1992 and expanded in phases
during 1997 and 2004, was the first major
specialty retail development on Las Vegas
Boulevard. Forum Shops has a prominent
position on the Strip, situated on the west
side of Las Vegas Boulevard, north of
Flamingo Road, between Caesars Palace
and The Mirage, and is configured with a
highly "themed" retail and entertainment
environment. The property is 99% leased,
attracting an estimated 22 million visitors
per year and is generally considered the
most dominant retail center on the Strip
with 150 specialty tenants that include
Anthropologie, Jimmy Choo, Coach, Louis
Vuitton, Montblanc, John Varvatos, Victoria's
Secret, Versace, Bvlgari, Cartier, De Beers,
Harry Winston, Tiffany & Co., Abercrombie
& Fitch, Armani Exchange, Brooks Brothers,
Zegna and Cheesecake Factory. Tenant
sales at Forum Shops at Ceasars Palace are
approximately $1,000 to $1,200 per square
foot with average rents ranging from $100 to
$125 per square foot.
6.THE GRAND CANAL SHOPPES
Opened in 1999, the Grand Canal Shoppes
at the Venetian was fully leased after three
months. Fashioned after the Forum Shops,
the property is heavily themed with a canal
flowing through the middle of the concourse
area. The property consists of 536,890 square
feet including mezzanine spaces with current
rents ranging from $85 to $110 per square
foot. Average tenant sales range from $900
to $950 per square foot, and as a result of
the project's immediate success, a second
phase connected via pedestrian bridge to
the Palazzo Resort was recently developed
and dubbed Shoppes at Palazzo. The project
is currently 94% leased and includes key
tenants; Ann Taylor, Banana Republic, bebe,
Coffee Bean and Tea Leaf, Cache, Sephora
and Valentino.
Opened in 1999, the Grand Canal Shoppes
at the Venetian was fully leased after three
months. Fashioned after the Forum Shops,
the property is heavily themed with a canal
flowing through the middle of the concourse
area. The property consists of 536,890 square
feet including mezzanine spaces with current
rents ranging from $85 to $110 per square
foot. Average tenant sales range from $900
to $950 per square foot, and as a result of
the project's immediate success, a second
phase connected via pedestrian bridge to
the Palazzo Resort was recently developed
and dubbed Shoppes at Palazzo. The project
is currently 94% leased and includes key
tenants; Ann Taylor, Banana Republic, bebe,
Coffee Bean and Tea Leaf, Cache, Sephora
and Valentino.
7.THE SHOPPES AT PALAZZO
Delivered in 2007 with a Grand Opening
in January 2008, the 363,714-square-foot
Shoppes at Palazzo is situated within the
Palazzo Resort and is an expansion of the
highly successful Grand Canal Shoppes. The
Shoppes at Palazzo is a three-story enclosed
specialty center with heavily themed,
decorative characteristics intended to capture
the essence of Italy. The center is anchored
by Las Vegas' first Barneys New York and
features many premier luxury brands
including Jimmy Choo, Burberry, Van Cleef
& Arpels and Piaget. Upscale restaurants
include Emeril Lagasse's Table 10, Wolfgang
Puck's Cut and Shimon Bokovza's Sushi
Samba. The center is currently 89% occupied
with tenant sales ranging from $900 to $925
per square foot and rents ranging from $80
to $100 per square foot.
Delivered in 2007 with a Grand Opening
in January 2008, the 363,714-square-foot
Shoppes at Palazzo is situated within the
Palazzo Resort and is an expansion of the
highly successful Grand Canal Shoppes. The
Shoppes at Palazzo is a three-story enclosed
specialty center with heavily themed,
decorative characteristics intended to capture
the essence of Italy. The center is anchored
by Las Vegas' first Barneys New York and
features many premier luxury brands
including Jimmy Choo, Burberry, Van Cleef
& Arpels and Piaget. Upscale restaurants
include Emeril Lagasse's Table 10, Wolfgang
Puck's Cut and Shimon Bokovza's Sushi
Samba. The center is currently 89% occupied
with tenant sales ranging from $900 to $925
per square foot and rents ranging from $80
to $100 per square foot.
8. FASHION SHOW MALL
Fashion Show Mall, originally developed in
1981, was expanded in two phases during
2002 and 2003 to its current size of 1.9 million
square feet. The property has a significant
presence along the Strip, with a 600-foot
canopy structure shading the outdoor
plaza area fronting Las Vegas Boulevard.
The project includes seven department
store anchors including Nordstrom,
Bloomingdale's, Macy's and Neiman
Marcus, as well as 250 specialty stores and
restaurants. Fashion Show Mall reports
tenant sales ranging from $802 to $983 per
square foot and average rents ranging from
$80 to $88 per square foot.
Fashion Show Mall, originally developed in
1981, was expanded in two phases during
2002 and 2003 to its current size of 1.9 million
square feet. The property has a significant
presence along the Strip, with a 600-foot
canopy structure shading the outdoor
plaza area fronting Las Vegas Boulevard.
The project includes seven department
store anchors including Nordstrom,
Bloomingdale's, Macy's and Neiman
Marcus, as well as 250 specialty stores and
restaurants. Fashion Show Mall reports
tenant sales ranging from $802 to $983 per
square foot and average rents ranging from
$80 to $88 per square foot.
HOUSE_OVERSIGHT_018800
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