The Showcase Mall will soon have more space to show off. The venerable Strip retail and entertainment complex last month broke ground on an $80 million, 95,800-square-foot addition at 3771 Las Vegas Blvd., South. Matt Construction Corp. of Santa Fe Springs, Calif. is the general contractor, with Boston-based Kling Stubbins as architect.
The three-level extension will be located immediately north of the existing 4.3-acre, 190,000-square-foot mall originally built by Henderson-based Makena Development and Forest City Enterprises of Cleveland in 1998. City Center Retail LLC of San Francisco and New York-based Angelo Gordon & Co. bought the property for $142 million, or $747 per square foot, in early 2005, after plans for a 52-story, 700-unit Westgate timeshare tower fizzled.
The Showcase Mall and its iconic 100-foot-tall Coca-Cola bottle have become a popular Strip attraction among visitors and locals. The venue's whimsical facade, indoor climbing wall, and unique mix of tenants like M&M World, United Artists Theaters, Adidas and Gameworks have made it a hit. The mall addition looks to continue the fun with a new three-story, 41,000-square-foot Hard Rock Café.
The café will feature a 700-seat restaurant with outdoor dining, a live concert venue, a main bar and a 3,364 square foot retail store. The three-quarter-acre expansion will additionally incorporate an existing Denny's restaurant and ABC Store, while making room for two to four new tenants, says City Center project manager Tim Bacon. New York City-based Robert K. Futterman is overseeingleasing efforts.
The new building has a sleek modern look with a backlit glass curtain wall fronting the Strip. Construction is being funded by a two-year, $57.75-million loan from Key Bank National Association arranged by the Los Angeles office of Holliday Fenoglio Fowler. It has a 75-percent loan-to-value ratio. The loan was arranged by HFF's Scott McMullin and John Crump.
The Showcase Mall expansion is expected to finish in the first quarter of 2009.
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