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Miracle Mile sold

Discussion in 'Casino Industry & Development' started by leo21, Oct 18, 2016.

  1. leo21

    leo21 VIP Whale

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  2. dmr

    dmr Registered Abuser

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    In reading that article it does not appear that any sweeping changes are imminent.
     
  3. waverunner

    waverunner BBHMM

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    According to Las Vegas Adviser......just below $1.1 B.
     
  4. tringlomane

    tringlomane STP Addicted Beer Snob

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    I feel like that's too much, but good for them.
     
  5. vegasqc

    vegasqc VIP Whale

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    Is the Axis part of the miracle mile or does that belong to the hotel even if you have to go across the mall to get there
     
  6. paperposter

    paperposter VIP Whale

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    its in the mall

    I'm sure its owned by the mall with a lease out to livenation.
     
  7. chitownjohn

    chitownjohn High-Roller

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    Crystals was sold for 1.1B, and 50% stake of Fashion Show Mall was sold for 1.3B so it seems like the going rate for strip malls is around 1B. The MM has revenue from the live venues so that may help justify the price. I wish they were investing in casinos. :cry:
     
  8. Its Only Money

    Its Only Money Low-Roller

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    FSM is nearly 4 times the size of the Miracle Mile Shops, but the store mix is closer. Crystals is about the same size, but the store mix is much better quality. It seems to me that the prices are close in premiums to the top of the market back in the late 2000s. It will be interesting to see if we see other movement here.
     
  9. luckymanstan

    luckymanstan Tourist

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    Love the miracle mile shops. Things are actually affordable for the everyday joe and tourist unlike the other malls with louis vuitton stores selling $400 sandals.
     
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  10. Snidely

    Snidely VIP Whale

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    $400. LOL. They're more than that.
     
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  11. leo21

    leo21 VIP Whale

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    That's a problem since the past ownership never fully converted from Desert Passage.
     
  12. shokhead

    shokhead I'm no big spender!

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    Maybe a couple of mid upscale restaurants non chain would be nice.
     
    Here we go again!
    • Agree Agree x 1
  13. C0usineddie

    C0usineddie VIP Whale

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    Wonder how long it will take them to tear it down and build a boutique cvs/ walgreens super store?