Macy’s Plans New Stores for Summerlin and the Strip
- Sep 27, 2012
Macy’s Inc. is planning a 180,000 square-foot anchor store at the Shops at Summerlin, the 1.5 million-square-foot retail center being developed by the Howard Hughes Corp. on the Western Beltway. The venue will be the retailer’s first new full-line store in the Las Vegas market since 1996.
Expected to open in fall 2014, the new Macy’s will feature fashions for women, men, children and home. The Shops at Summerlin will feature 125 shops and restaurants, while also attempting to increase west Las Vegas’ walkability.
Along with its Summerlin project, Macy’s has big plans for its Fashion Show Mall location on South Las Vegas Blvd. In a vacant store once occupied by the defunct Robinsons-May chain, Macy’s is scheduled to open a 105,000-square-foot men’s store next spring.
That project is an integral part of an overhaul of Macy’s existing 201,000-square-foot Fashion Show Mall location. By moving its men’s furnishings, the retailer will free up space to expand its women’s accessories department. After the remodeling, Macy’s will return 68,000 square feet to the property’s owner, General Growth Properties Inc., which is making the space available to small shops.
Las Vegas has seen its share of distress in every segment of the real estate market during the past several years, and the retail sector has been as hard hit as any. Research by Marcus & Millichap Real Estate Investment Services Inc. illustrates the steep drop in new retail completions since 2008 (see chart at left).
However, with the appearance of new developments such as the shops at Summerlin and expansions of existing venues such as Fashion Show Mall, things might finally be looking up in 2013.
Chart courtesy of Marcus & Millichap Real Estate Investment Services at marcusmillichap.com