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Miracle Mile Shops Sold

The Miracle Mile Shops mall on the Las Vegas Strip has been sold to an investment group.

The former owner, Boulevard Invest LLC, announced the sale Sunday to an affiliate of Institutional Mall Investors, a group owned by Miller Capital Advisory Inc. and the California Public Employees' Retirement System.

A sale price wasn't announced.

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Tristar Capital and RFR Holdings, the partnership behind Boulevard Invest, acquired the retail, restaurant and entertainment development in 2004. The indoor mall at the Planet Hollywood Casino Resort has a circular layout that stretches more than a mile.

Miller Capital Advisory president and chief executive Andrew Miller says the company is excited for the future of the development.

It's anchored by several live theaters, including the residency home to performers Britney Spears and Jennifer Lopez.