The Linq is a $550 million project in Las Vegas undertaken by Caesars Entertainment. The 260,000-square-foot retail and entertainment district across from Caesar’s Palace is 70 percent leased and includes such tenants as Brooklyn Bowl – a 16-lane bowling alley and live performance venue, Sprinkles Cupcakes and Yard House. It is expected to deliver in late 2013. A 550-foot-high Ferris wheel will be added in 2014.

Retail sector vacancy rates in Las Vegas are in the range of 11 percent – more than twice what they were in 2007 and average rents remain depressed at around $16/sf. However, as The Wall Street Journal notes, the Strip is a unique submarket in the city with economic realities of its own. The Forum Shops at Caesars Palace is 98 percent occupied and generates estimated annual sales of $1,400/sf, according to Green Street Advisors.

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Last Updated on October 17, 2012 by Ramin Seddiq