The facade of the mall's third phase in 2010, shortly after it opened.
After the 1989 announcement of plans for the MGM Grand hotel and casino,[3] attorney Bob Unger recognized the investment potential of an adjacent property where he was handling an eviction case.[4] Unger approached his friend, banker Barry Fieldman, for financing, and the two partnered to form Makena Development Corp. in 1992.[4][5] Makena purchased Island Plaza, a small shopping center on the site that would become the southern part of Showcase Mall.[5] They then beat out MGM in an effort to purchase two gas stations to the north of Island Plaza.[4][5]
Forest City Enterprises, a national real estate developer with interests in Las Vegas including the Galleria at Sunset mall, signed on to provide additional funding and expertise to the project,[5] taking a 20% ownership stake.[6]
Island Plaza was demolished in 1999 to make way for the second phase of Showcase Mall,[9] with 43,000 square feet (4,000 m2) of retail space and a $33-million budget.[10] The second phase, south of the original building, opened in 2000, featuring a gift shop with an interior designed to resemble the Grand Canyon.[11][12]
North of the original portion of the mall, a parcel occupied by a Denny's restaurant was earmarked for a third phase of construction. In 2003, Westgate Resorts announced a $180-million plan to build a 54-story tower with over 700 timeshare units on the Denny's site.[13][14] Facing strong opposition from MGM Grand and concerns from county officials about the size of the project,[15] the plan was scaled back to 42 stories,[16] but was ultimately rejected by the Clark County Commission.[17]
In 2005, the developers sold the first phase of the mall for $142 million, to a partnership of San Francisco-based City Center Retail and New York investment firm Angelo Gordon & Co.[18] The buyers also spent $30 million to acquire a leasehold interest in the Denny's site.[19]
The mall's third phase was built in 2009 with 97,400 square feet of space, anchored by a Hard Rock Cafe and a Ross Dress For Less store.[20] The City Center / Angelo Gordon partnership sold this portion of the mall in 2011 to Unilev Capital Corp., a California real estate investment company, for $93.5 million.[20]
In July 2014, City Center and Angelo Gordon sold the original center section of the mall for $145 million to a partnership between the Nakash family (founders of Jordache) and investor Eli Gindi.[21] The Nakashes and Gindi, along with home-curtains manufacturer Elyahu Cohen, then purchased the third, northern section of the mall from Unilev Capital for $139.5 million in January 2015.[22] The Nakashes and Gindi consolidated their control of the mall in December 2015, buying the southern portion from Fieldman for $82.9 million.[23]
A planned expansion of the mall was approved in September 2017. Earlier in the year, the Nakashes and Gindi had paid $59.5 million to purchase a building to the north of the mall, which had previously housed the Smith & Wollensky steakhouse. Plans called for the building to be demolished and replaced with a new four-story, 145,000-square-foot (13,500 m2) building.[24] It would be anchored by Target and Burlington department stores.[25][26] Both stores opened in 2020 in the new building.
Notable tenants
Interior of the Grand Canyon Experience gift shop
Adidas Performance Center — A three-story store selling sports apparel.[27] Opened in 2004.[28]
BrewDog — A 30,000 sq ft (2,800 m2) rooftop brewpub, the largest location in the international chain.[30] Opened in 2022 in the mall's fourth phase, at a cost of $17 million.[31][32]
Burlington — A 50,000 sq ft (4,600 m2) discount department store. Opened in 2020 in the mall's fourth phase.[33][34][35]
Coca-Cola Store — A two-story gift shop. Opened in 1997 as the World of Coca-Cola, a four-story facility, with the upper two floors containing a museum showcasing the history of Coca-Cola.[36] The museum portion closed in 2000.[12][37]
FlyOver — A flying theater motion simulator attraction, located in the former movie theater space at the base of the mall's parking garage. Opened in 2021.[38][39]
Grand Canyon Experience — A two-story gift shop built to resemble the Grand Canyon.[65] Opened in 2000 as part of the mall's second phase.[12] Closed in 2017.[66][67]
Tickets2Nite — A discount ticket broker located in the mall's atrium. Opened in 2002 as the first discount ticket outlet in Las Vegas, inspired by New York's TKTS booth.[71][72] Moved out by 2008.[73]
United Artists Theaters — An eight-screen movie theater, located at the base of the mall's parking garage. Opened in 1997.[8] Closed in 2018.[74]
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