Business Services Industry
Developer Gives Up, Will Sell Troubled Las Vegas Retail, Entertainment Center.
Knight Ridder/Tribune Business News, May, 2004
Las Vegas Review-Journal Knight Ridder/Tribune Business News
May 22--In the market for a boondoggle?
If so, you're in luck.
The developer of the Neonopolis retail and entertainment center said Friday it plans to sell the nearly $100 million project rather than try to revive the struggling mall once hailed as a key to resurrecting business in downtown Las Vegas.
"It came down to a choice of redeveloping it or exiting it," Theresa Miller, spokeswoman for mall owner Prudential Real Estate Investors, said Friday. "And since we're in the property investment business and not the redevelopment business, we thought it would be best for the property, best for the city and best for our investors if we took the exiting option and let...
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