{"id":1004050370,"date":"2012-09-27T09:41:10","date_gmt":"2012-09-27T17:41:10","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=71250"},"modified":"2022-12-09T02:53:40","modified_gmt":"2022-12-09T10:53:40","slug":"macys-plans-new-stores-for-summerlin-and-the-strip","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/macys-plans-new-stores-for-summerlin-and-the-strip\/","title":{"rendered":"Macy\u2019s Plans New Stores for Summerlin and the Strip"},"content":{"rendered":"

By Alex Girda, Associate Editor<\/p>\n

Macy\u2019s Inc. is planning a 180,000 square-foot anchor store at the Shops at Summerlin, the 1.5 million-square-foot retail center being developed by the Howard Hughes Corp. on the Western Beltway. The venue will be the retailer’s\u00a0first new full-line store in the Las Vegas market since 1996.<\/p>\n

Expected to open in fall 2014, the new Macy\u2019s will feature fashions for women, men, children and home. The Shops at Summerlin will feature 125 shops and restaurants, while also attempting to increase west Las Vegas\u2019 walkability.<\/p>\n

Along with its Summerlin project, Macy\u2019s has big plans for its Fashion Show Mall location on South Las Vegas Blvd. In a vacant store once\u00a0occupied by the defunct\u00a0Robinsons-May chain, Macy\u2019s is scheduled to open a 105,000-square-foot men\u2019s store next spring.<\/p>\n

That project is an integral part of an overhaul of Macy\u2019s existing 201,000-square-foot Fashion Show Mall location. By moving its men\u2019s furnishings, the retailer will free up space to expand its women\u2019s accessories department. After the remodeling, Macy\u2019s will return 68,000 square feet to the property\u2019s owner, General Growth Properties Inc., which is making the\u00a0space available to\u00a0small shops.<\/p>\n

Las Vegas has seen its share \"\"<\/a>of distress\u00a0in every segment of\u00a0the real estate market during the past several years, and the retail sector has been as hard hit as any. Research by Marcus & Millichap Real Estate Investment Services Inc. illustrates the steep drop in new retail\u00a0completions since 2008 (see chart at left).<\/p>\n

However, with the appearance of new developments such as the shops at Summerlin and expansions of existing venues such as Fashion Show Mall, things might finally be looking up\u00a0in\u00a02013.<\/p>\n

Chart courtesy of Marcus & Millichap Real Estate Investment Services at marcusmillichap.com \u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

By Alex Girda, Associate Editor Macy’s Inc. is planning a 180,000 square-foot anchor store at the Shops at Summerlin, the 1.5 million-square-foot retail center being developed by the Howard Hughes Corp. on the Western Beltway. The venue will be the retailer’s first new full-line store in the Las Vegas market since 1996. Expected to open in […]<\/p>\n","protected":false},"author":237,"featured_media":1004506547,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1593,21742],"tags":[],"class_list":["post-1004050370","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-las-vegas","category-latest"],"acf":[],"yoast_head":"\nMacy\u2019s Plans New Stores for Summerlin and the Strip - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/macys-plans-new-stores-for-summerlin-and-the-strip\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Macy\u2019s Plans New Stores for Summerlin and the Strip\" \/>\n<meta property=\"og:description\" content=\"By Alex Girda, Associate Editor Macy’s Inc. is planning a 180,000 square-foot anchor store at the Shops at Summerlin, the 1.5 million-square-foot retail center being developed by the Howard Hughes Corp. on the Western Beltway. 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