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JLL selected as exclusive leasing agent for property’s 18,000-square-foot luxury retail promenade
WASHINGTON D.C., Feb.10, 2016 – JLL today announced that it has been retained by MGM Resorts International to lease the luxury retail promenade in its newest development, MGM National Harbor. The property is located at the intersection of I-95 and I-295 in Prince George’s County, Maryland, and is expected to open in the fourth quarter of 2016.
MGM National Harbor will encompass 308 hotel rooms, a 125,000-square-foot casino, 12 world-class food and beverage venues, a 27,000-square-foot spa, a flexible 3,000-seat theater and 18,000 square feet of high-end luxury retail space.
Retail Senior Vice President Greg Ferrante and Retail Vice President Andy Corno are leading the JLL team on this leasing assignment.
“MGM National Harbor will offer tourists and locals a dynamic experience featuring entertainment, fine dining and outstanding amenities including a luxury spa and destination retail offerings,” said Ferrante. “We are eager to create an unmatched retail experience in the market, and expect national and international retailer interest in the available space in the retail promenade.”
MGM National Harbor is located just off the Capital Beltway, just 15 minutes from downtown Washington D.C., with close proximity to Ronald Reagan Washington National Airport.
“Anyone who has ever visited an MGM Resorts International property understands the uniqueness of the offering, and MGM National Harbor will be no different,” added Corno. “The retail component of the resort adds another layer of experience for resort-goers, and will complement the restaurant and entertainment venues.”
The retail promenade at MGM National Harbor currently has 15 divisible retail spaces available for lease. Please contact Andy Corno or Greg Ferrante for further information or visit mgmnationalharbor.com/.
JLL’s retail business serves as an industry leader in retail real estate services. The firm’s more than 800 dedicated retail experts in the Americas partner with investors and occupiers around the globe to support and shape investment and site selection strategies. Its retail specialists provide independent and expert advice to clients, backed by industry-leading research that delivers maximum value throughout the entire lifecycle of an asset or lease. The firm has more than 130 retail brokerage experts spanning more than 30 major markets, representing more than 680 retail clients. As the largest third party retail property manager in the United States, JLL is currently handling the management, leasing and/or disposition of more than 710 centers, totaling 83 million square feet specializing in regional malls, lifestyle centers, grocery-anchored centers, power centers, central business districts, transportation facilities and mixed-use projects. For more news, videos and research from JLL’s Retail Group, please visit: www.jllretail.com.
About JLLJLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $57.2 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
About MGM National Harbor The newest addition to the MGM Resorts International (NYSE:MGM) portfolio, MGM National Harbor's unrivaled setting offers stunning panoramic views of the eastern shore of the Potomac River in Maryland. The $1.3 billion resort sits a short distance from Washington, D.C. to the north and historic sites, including George Washington's Mount Vernon estate across the river in Virginia. The 24-story, 308-room resort will feature premier amenities and experiences for locals as well as visitors from around the world including a dynamic casino with over 125,000 square feet of space that includes slots, table games and poker; a world-class spa and salon; an entertainment theater with flexible seating for up to 3,000; high-end branded retail; 27,000 square feet of meeting space; and restaurants from renowned local, national and international chefs. MGM National Harbor is slated to open in the fourth quarter of 2016.
About MGM Resorts International MGM Resorts International (NYSE: MGM) is one of the world's leading global hospitality companies, operating a portfolio of destination resort brands including Bellagio, MGM Grand, Mandalay Bay and The Mirage. The Company is in the process of developing MGM National Harbor in Maryland and MGM Springfield in Massachusetts. The Company also owns 51 percent of MGM China Holdings Limited, which owns the MGM Macau resort and casino and is developing a gaming resort in Cotai, and 50 percent of CityCenter in Las Vegas, which features ARIA Resort & Casino. For more information about MGM Resorts International, visit the Company's website at www.mgmresorts.com.