New Ownership for Boulevard Mall - 8 News NOW

New Ownership for Boulevard Mall

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LAS VEGAS -- The oldest mall in the Las Vegas valley has new ownership. The Boulevard Mall, built in 1965, was sold to Sansone Companies, Boulevard Ventures, a local entity. Boulevard Ventures plans to retain the mall's existing tenancy and add new vendors.

Charles Moore is the senior vice president of CBRE's Private Capital Group, which brokered the sale. He says the mall was one of the largest retail assets marketed in Las Vegas over the past five years. 

"There's some good plans. The mall itself has 75 percent leased at this point and his intension is to release as it is and bring new life to the asset that will cater to surrounding community," Moore said.

The new owner of the mall, Roland Sansone, is familiar with the Boulevard, he used to have retail shops in the mall. Running the mall is no new territory for Sansone's company and they are about to make it bigger and better.

"He is going to bring more excitement to the area, potentially some entertainment options," Moore said.

Part of the plan is to bring an entertainment venue to the property and while they are not sure exactly what that might be yet, CBRE says there is potential for a movie theater.

Sansone Companies plans to also bring in more restaurants and new retail to fill the vacant spots, along with a full exterior and interior renovation.

The mall went up for sale in June 2013 when the previous owner, Rouse Properties, completed deed in lieu of foreclosure.

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