LAS VEGAS, Jan. 21, 2015 /PRNewswire/ -- Explore an eclectic mix of shops, restaurants and attractions as the retail landscape of Las Vegas is transformed by the shimmering center-Strip shopping spectacle of the Grand Bazaar Shops(TM) Las Vegas. The much-anticipated retail attraction delivers big brand names, intimate boutiques and international flavors, all packed into a two-acre outdoor shopping promenade. Opening to the public on February 26, the immersive retail experience, located adjacent to Bally's Las Vegas, features more than 120 shops, including exclusive first-to-market brands and unique international retailers at the heart of the Las Vegas Strip.
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"Grand Bazaar Shops will captivate people looking for something more than what today's brick-and-mortar retail outlets typically provide," said Larry Siegel, chairman of Juno Property Group. "This new concept that we are introducing at the 50-yard line of the Las Vegas Strip is truly special and we feel the experiences within it will create a must-see attraction for visitors and locals alike. We are reimagining retail at the crossroads of the busiest intersection in Las Vegas."
Food, Fashion & Fun
The attraction brings together a dynamic mix of merchants and restaurants in an urban shopping scene rich with culture, fashion, food, and a multitude of engaging experiences. Guests will be able to interact with stores in which they can design their own sandals, barter for the best price, observe live artists creating fine art, explore virtual showrooms, and more.
Spanning more than two acres, Grand Bazaar Shops(TM) will introduce a host of boutiques with sizes ranging from 150-300 square feet. In addition, a select group of retailers will have a larger presence, with boutiques ranging from 1,000-2,400 square feet. Grand Bazaar will also feature a diverse array of food, bar and restaurant concepts, occupying 26,500 square feet of space, some with second-story views overlooking the Las Vegas Strip.
Reminiscent of world-renowned markets such as Istanbul's Grand Bazaar and London's Portobello Road, and newer examples such as New York City's Grand Central Terminal and San Francisco's Ferry Building, Grand Bazaar Shops(TM) will evoke a sense of discovery with its varied and one-of-a-kind apparel, footwear, eyewear, accessories, jewelry, health and beauty, specialty and electronics offerings.
Popular brands such as Swarovski, Swatch and UGG & TOMS will delight shoppers with distinctive store models and experiences not found elsewhere. U.S. brands making their Las Vegas debut include Hawaiian fashion and home furnishings retailer Martin & MacArthur and Los Angeles handbag designer Hammitt. Additionally, Grand Bazaar Shops(TM) will feature popular international companies expanding their presence in the U.S. like Superdry, a U.K. fashion retailer, Havaianas, a Brazilian footwear company, and Costa Rican jewelry brand AG by Ana Gutierrez Wearable Art.
Lighting Up The Las Vegas Strip
Central to the Grand Bazaar Shops' experience will be the Swarovski Crystal Starburst. Brilliantly colored light with sound and video, the Starburst soars above Grand Bazaar Shops' colorful, mosaic-patterned rooftop canopy and will be the star of a nightly LED spectacle. The 14-foot-diameter sparkling sphere, composed of 924 custom-cut Swarovski crystals and more than 1,800 points of light, will be an exciting focal point of the new retail venue.
Grand Bazaar Shops(TM) Fast Facts
-- More than 20 million people pass through the Grand Bazaar Shops(TM) site
each year, more than half of the city's annual tourist population.
-- On a daily basis, an average of 68,500 vehicles drive by the
intersection of Las Vegas Boulevard and Flamingo Road - the crossroads
of Las Vegas - making it one of the busiest intersections in the world.
-- The Grand Bazaar Shops(TM) project will create approximately 1,000 jobs.
-- The shops are directly adjacent to the Bellagio fountains, and major
casino hotel properties, including Bally's Las Vegas, Paris Las Vegas,
Caesars Palace and The Cromwell.
A full list of opening tenants and other exciting attractions will soon be announced. For more information on Grand Bazaar Shops(TM), please visit: http://www.grandbazaarshops.com.
About Larry Siegel and Juno Property Group
A recognized leader and visionary in the shopping center industry, Larry Siegel has revolutionized the way that consumers spend leisure time. Throughout his 35-year career, and currently in his role as chairman of Juno Property Group, he has led the development of over three dozen world-class retail and entertainment destinations, projects comprising 35+ million square feet of space, in major markets across the U.S. and in Canada and Europe.
As chairman of the board and CEO of the Mills Corporation, a Washington-DC based REIT, Siegel pioneered the modern-day outlet shopping experience, creating some of the first off-price centers in the U.S. and later bringing the outlet-shopping format into the 21st century. With Potomac Mills, Sawgrass Mills and Vaughan Mills, he worked to mainstream the outlet center into a popular retail format. Fueling its success, the Mills off-price shopping centers incorporated better brands like Saks OFF 5th, Neiman Marcus Last Call, Coach and Polo, among others, and blended consumer-friendly amenities into the shopping center like megaplex movie theaters, themed restaurants and vibrant entertainment. Along with other U.S. achievements, including one of the first and most successful lifestyle centers in the U.S., the Block at Orange in Southern California, Siegel has earned a reputation in international development. One of the first U.S. developers to build a ground-up regional mall on the European continent, Madrid Xanadu, Siegel also saw the importance of cross-border retail and brought one of the first IKEA stores to the U.S., the first Bass Pro Shops and Linens-N-Things stores to Canada, and the first Tommy Hilfiger store to Europe, to name a few.
In leaving an indelible mark of creativity and entertainment on the modern-day retail experience, Larry Siegel has been recognized by Chain Store as one of the "Top 25" people influencing retail in the 1990s. Additionally, while at Mills, he was chosen as Greater Washington, D.C. Real Estate and Construction Entrepreneur of the Year in the annual program sponsored by Ernst & Young.
About Perella Weinberg Partners Asset Based Value Strategy
Perella Weinberg Partners Asset Based Value Strategy is a leading post-financial crisis provider of U.S. specialty finance solutions. Since inception in 2008, the Strategy has grown to manage in excess of $2.1 billion in equity capital through a number of different investment vehicles. Perella Weinberg Partners Asset Based Value Strategy can deliver significant capital, technical expertise and infrastructure in a wide range of asset classes and structures, including both real and financial assets. Capital for the Strategy is contributed by, among others, a diversified group of institutional investors who seek to invest in compelling opportunities.
Perella Weinberg Partners Asset Based Value Strategy is a unit of Perella Weinberg Partners, a leading independent, client-focused financial services firm providing advisory and asset management services to a broad, global client base, including corporations, institutions and governments. The Advisory business advises clients on mergers, acquisitions, defense advisory, financial restructuring, private capital raising, and pension matters. The Asset Management business includes a suite of hedge fund strategies, private investment funds and outsourced CIO solutions. Together with its affiliates, the Asset Management business has capital commitments and managed assets of approximately $10.9 billion. With more than 400 employees, Perella Weinberg Partners maintains offices in New York, London, Abu Dhabi, Denver, Dubai, and San Francisco. For more information on Perella Weinberg Partners, please visit http://www.pwpartners.com.
About Glimcher Capital Group
Glimcher Capital Group is a boutique real estate investment, development and advisory firm with a focus on opportunistic level returns. The company targets off-market acquisitions, ground-up development projects, and distressed debt opportunities in property sectors and markets where it has significant operating experience and strong industry relationships. In addition to Grand Bazaar Shops, Glimcher Capital Group targets lodging and hospitality assets, multi-family properties (with a focus on student housing and age-restricted housing) and distressed opportunities such as broken condominium projects or partially built hospitality and multi-family assets.
Glimcher Capital Group was founded in 2010 by Daniel Glimcher, a veteran real estate investor, developer, attorney and operator. Integrity in all of its business dealings is the foremost operating philosophy on which Mr. Glimcher founded the Company. Glimcher Capital Group has a number of institutional and high net-worth investor relationships and prides itself in structuring transactions which align its investors' interests with its own. For more information, please visit www.glimchercapitalgroup.com.
About Bally's Las Vegas
Bally's Las Vegas is located on the center of the world-renowned Las Vegas Strip, across from Caesars Palace and next to Paris Las Vegas. The 44-acre resort features two 26-story hotel towers, including the all-new Jubilee Tower and offers more than 2,800 guestrooms, including 244 suites. The resort features highly-acclaimed restaurants, including BLT Steak and Sea Thai; the famous Sterling Brunch; Liaison, the first gay nightclub in a Las Vegas casino; a relaxing pool oasis; a lavish spa; casino space featuring a Party Pit; poker room; 1,100 slot machines and a first-class Race & Sports Book known for its stadium-style seating and abundance of high-definition television screens. Entertainment options include Jubilee, the longest-running show on the famous Las Vegas Strip and the last remaining showgirl production of its kind, as well as VERONIC Voices starring female tribute artist Veronic DiCaire. For more information, please visit www.ballyslasvegas.com. Find Bally's on Facebook and follow on Twitter.
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SOURCE Grand Bazaar Shops Las Vegas
