{"id":1004664218,"date":"2023-05-22T04:02:56","date_gmt":"2023-05-22T12:02:56","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004664218"},"modified":"2023-05-22T04:02:58","modified_gmt":"2023-05-22T12:02:58","slug":"400-ksf-retail-center-coming-to-las-vegas-strip","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/400-ksf-retail-center-coming-to-las-vegas-strip\/","title":{"rendered":"400 KSF Retail Center Coming to Las Vegas Strip"},"content":{"rendered":"
\"BLVD<\/a>

BLVD rendering. Image courtesy of 5+design<\/em><\/p><\/div>\n

Gindi Capital <\/strong>has started construction on BLVD, a retail development on the Las Vegas Strip. The 9.5-acre site, which incorporates several existing buildings, and a closed Hawaiian Marketplace, was purchased in 2019 for $172 million. The sale involved a $97 million loan from JPMorgan Chase<\/strong>, according to CommercialEdge. Architectural services are provided by 5+design<\/strong> and 3 Egg Studio<\/strong>, along with BWA Architects<\/strong>.<\/p>\n

The property is slated to comprise 400,000 square feet of retail space and have 700 feet of street frontage. It will also include a 110,000-square-foot terrace meant for events. Plans aim for a diverse range of indoor and outdoor tenants to offer shopping and entertainment options. The two-story building will rise 54 feet.<\/p>\n

Located at 3743-3759 Las Vegas Boulevard, the property will be in the heart of the Strip. It will also be close to Interstate 15, roughly 7 miles south of the metro\u2019s downtown.<\/p>\n

Although the retail market has slowed down significantly, it has mostly stayed resilient<\/a> in spite of economic uncertainty and rising interest rates<\/a>. Nationwide, the first quarter of 2023 represented the 10th consecutive one for positive absorption for the asset type, according to CBRE. Development, however, nearly ground to a halt. Deliveries in the first quarter registered a record low of 5.1 million square feet across the whole U.S., the same source shows.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gindi Capital paid $172 million for the site.<\/p>\n","protected":false},"author":3120,"featured_media":1004664227,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,1593,21742,21749,15],"tags":[35855,33651],"class_list":["post-1004664218","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-las-vegas","category-latest","category-retail","category-west","tag-bwa-architecture-and-planning","tag-jp-morgan-asset-management"],"acf":[],"yoast_head":"\n400 KSF Retail Center Coming to Las Vegas Strip - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Gindi Capital has started construction on BLVD, a 400,000-square-foot retail development on the Las Vegas Strip.\" \/>\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\/400-ksf-retail-center-coming-to-las-vegas-strip\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"400 KSF Retail Center Coming to Las Vegas Strip\" \/>\n<meta property=\"og:description\" content=\"Gindi Capital has started construction on BLVD, a 400,000-square-foot retail development on the Las Vegas Strip.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/400-ksf-retail-center-coming-to-las-vegas-strip\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-22T12:02:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-22T12:02:58+00:00\" \/>\n<meta name=\"author\" content=\"Radu Corfus\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/BLVD-Rendering-e1684754560211.jpeg\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/400-ksf-retail-center-coming-to-las-vegas-strip\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/400-ksf-retail-center-coming-to-las-vegas-strip\/\",\"name\":\"400 KSF Retail Center Coming to Las Vegas Strip - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/400-ksf-retail-center-coming-to-las-vegas-strip\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/400-ksf-retail-center-coming-to-las-vegas-strip\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/BLVD-Rendering-e1684754560211.jpeg\",\"datePublished\":\"2023-05-22T12:02:56+00:00\",\"dateModified\":\"2023-05-22T12:02:58+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a04f9fc8d7ed936167c8786eb77e39c2\"},\"description\":\"Gindi Capital has started construction on BLVD, a 400,000-square-foot retail development on the Las Vegas Strip.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/400-ksf-retail-center-coming-to-las-vegas-strip\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/400-ksf-retail-center-coming-to-las-vegas-strip\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/400-ksf-retail-center-coming-to-las-vegas-strip\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/BLVD-Rendering-e1684754560211.jpeg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/BLVD-Rendering-e1684754560211.jpeg\",\"width\":1656,\"height\":1243,\"caption\":\"BLVD Rendering. 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