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Competitive Retail Rent Survey 1. TOWN SQUARE LAS VEGAS Town Square Las Vegas contains a world- class 902,335 square-foot regional lifestyle center anchored by AMC Cinemas, Whole Foods, H&M, Container Store, Gameworks, Old Navy, Staples, Guitar Center and a recently opened Saks Off Fifth Avenue. In addition, Town Center Las Vegas includes approximately 243,000 square feet of Class A office space. The property is approximately 90% occupied with retail rents ranging from $40 to $80 per square foot. Tenant sales are reported to range from $400 to $600 per square foot. 2. MANDALAY PLACE Mandalay Place was completed in 2003 and is comprised of a 90,000-square-foot un- themed retail center that spans between Mandalay Bay Resort and Casino and Luxor. The property is currently 95% occupied with rents ranging from $60 to $90 per square foot. The center has an array of shops including Nike Golf, Urban Outfitters and Fredrick’s of Hollywood. Tenant sales are reported to range from $500 to $600 per square foot. 3.CRYSTALS AT CITYCENTER Opened in 2009, Crystals at CityCenter is situated on a 67-acre site at the southwest corner of Las Vegas Boulevard South and Harmon Avenue. With over 425,000 square feet of luxury and boutique shopping space, Crystals is the retail anchor of CityCenter’s first phase. A select list of world-class retailers at Crystals includes Emilio Pucci, DKNY, Stella McCartney, Assouline, Bally, Bottega Cucinelli, Bulgari, Cartier, Christian Dior, Ermenegildo Zegna, Fendi, Gucci, Hermés, llori, Kiton, Louis Vuitton, Marni, Mikimoto, Prada, Tiffany & Co., Versace, and Yves Saint Laurent. Crystal’s mantra is “Shopping.Dining.Nightlife,” and it offers some of the Strip’s premier restaurants and nightclubs including Mastro’s Ocean Club, Wolfgang Puck, Beso Steakhouse, The Cup, The Pods, Social House, Todd English P.U.B., and Eve the nightclub. Crystals at CityCenter reported sales ranging from $900 to $1,500 per square foot with rental rates that range from $90 to $120 per square foot. 4. MIRACLE MILE SHOPS Miracle Mile Shops contains 489,671 square feet and are located at the northeast corner of Las Vegas Boulevard and Harmon Avenue. After Forum Shops and Grand Canal, this was the third major specialty retail project to open on the Strip and is contained within the Planet Hollywood Resort and Casino. Miracle Mile Shops boasts a 1.2-mile retail/ entertainment complex with modernized storefronts, people movers, a backlit-sidewalk water feature, LED video screens, crystal chandeliers and contemporary, color-coded kiosks. The center features 170 specialty stores including Urban Outfitters, Ben Sherman, Quiksilver, bebe, Sephora, French Connection, Betsy Johnson, Frederick's of Hollywood, H&M and True Religion Brand Jeans. The property supports 15 restaurants, including Aromi D'Italia, Cabo Wabo Cantina, Pampas Churrascaria Brazilian Grille, La Salsa Cantina, Cheeseburger Las Vegas and Blondies Sports Bar & Grill. Miracle Mile Shops is currently 93% leased with tenant sales levels ranging from $800 to $900 per square foot with rents ranging from $65 to $85 per square foot. HOUSE_OVERSIGHT_018799