Friday, December 11, 2015

Showcase Mall Sold

Over the past year developer Barry Fieldman has been selling off pieces of his Showcase Mall property near MGM Grand to New York real estate investor Eli Gindi and Jordache jeans founders the Nakash family.

The final plot was sold last week for almost $83 million, completing the $370 million buyout of the property.

Showcase Mall is known for a Coca-Cola store complete with giant Coke bottle, along with an M&M's World property. If you're dying to see a movie on the Strip, there's also a United Artists theater.

The sale of Showcase Mall has started speculation wondering if anything will be done with the property. I'm guessing not really. In spite of the relative kitsch of the property, it seems to be fairly busy most of the time. I can't see a serious real estate investor doing anything to jeopardize that.