LAS VEGAS -- Odds are good your clients think of this area as a
premier spot to gamble. But have they considered coming here for a
"There's another new reason to come to Las Vegas: Shop till you
drop," said George Connor, senior vice president of retail
properties for Colliers International, a real estate company based
in Las Vegas.
"You'll be able to go to the same upscale stores and enjoy fine
dining here just as you do in New York or Chicago."
The Las Vegas Strip, which now has 2.2 million square feet of
space, will add another 4 million square feet of new shops in the
next two years, according to Connor.
"That will mean a 2.5-mile stretch of the Strip where shoppers
will have available the very best found anywhere in the world --
the best restaurants and shops. Show me anywhere else in the world
where that's happening," he said. In fact, that would mean more
shopping along the Strip than can be found at the Mall of America
in Minneapolis, which, at 4 million square feet, is generally
recognized as the largest shopping center in the country.
The Strip itself is more than four miles long, but the shopping
area has been concentrated in the 2.5-mile stretch between the
Mandalay Bay hotel and the Fashion Show Mall, the largest retail
outlet on the strip.
Connor said it's no accident that upscale retail is moving to
Vegas. Fancier resorts and a surge in hotel rooms, many of them
upscale, help promote retail demand. "The average tourist only
gambles for four hours. They have plenty of time for other
activities such as shopping. And they want upscale shops," he
He said the development is part of Las Vegas' evolution from a
gambling mecca to an all-around tourist destination.
Among retail outlets coming to the Strip over the next two years
are:The Grande Canal Shoppes at the Venetian resort, which
eventually will have 500,000 square feet of space.A 32,000-square-foot Rue de la Paix upscale French shopping
area at Paris Las Vegas, opening in December.TrizecHahn Development Corp.'s $250 million,
500,000-square-foot Desert Passage retail center at the new
Aladdin, set to open in 2000.A 1 million-square-foot retail center linking the Mandalay Bay
and Luxor hotel-casinos.
Nordstrom, the Seattle-based retailer known for its personal
service, is opening a three-level, 210,000-square-foot store at the
In addition to new retail, many existing centers are expanding.
The Fashion Show Mall, for example, recently began the first phase
of its remodeling and expansion plan, set for completion in fall
2002. The Rouse Co., manager and owner of the mall, plans to double
its size to 1.8 million square feet.
The Fashion Show Mall will be anchored by seven department
stores, including newcomers Lord & Taylor and Bloomingdale's,
making it the second-largest retail venue in the Southwest. It also
will be one of the largest shopping malls in the country.
And the future of retail? "I think you'll see continuing growth
for the next decade," said Connor.