Mohegan Sun Announces Partnership with Finard Properties for Retail Development in Palmer, Massachusetts
300,000 sq. foot retail complex will be part of Mohegan Sun Massachusetts
PALMER, Mass., May 17, 2013 /PRNewswire/ -- Mohegan Sun Massachusetts today announced a partnership with Finard Properties – a Boston-based commercial real estate investment and development company with a nearly 60-year track record of creating premier retail environments and shopping centers.
The deal adds Finard Properties as the latest strategic partner in Mohegan Sun's plans for a nearly $800 million destination resort casino in Palmer, Massachusetts.
"There isn't a better, more experienced and more successful retail developer than Finard Properties, and we are thrilled to be adding them to the Mohegan Sun Massachusetts team," said Mitchell Etess, chief executive officer of the Mohegan Tribal Gaming Authority. "The portfolio of hugely successful Finard Properties' developments is spread literally throughout every corner of New England and beyond. Their creativity and expertise will be a huge asset to our application for the Western Massachusetts gaming license."
An early pioneer of the now familiar modern shopping center, Finard Properties was founded in the 1950's and has evolved over nearly six decades to become a regional market leader with a presence throughout New England, in the mid-south, and western United States. Today, the company commands a diverse portfolio of assets in the retail, office and hospitality sectors.
"We are proud to ally ourselves with Mohegan Sun Massachusetts, an established New England brand with 16 successful years in casino gaming," said Todd Finard, chief executive officer of Finard Properties. "The Mohegan Sun site in Palmer with its 152 acres and easy access to the region's major markets is the best location in Massachusetts for a destination resort casino. Finard Properties is eager to complement this economic development project by creating a dynamic and thriving first-class retail component comprised of restaurants, entertainment, and international fashion brands."
Finard Properties has developed and managed retail properties ranging from transformative urban retail projects to lifestyle centers and large-scale enclosed regional shopping malls.
Mohegan Sun Massachusetts will include a 300,000 square foot Finard Properties retail development, in addition to world-class casino gaming, a hotel, premier dining and other amenities.
The deal with Finard Properties follows Mohegan Sun's strategic partnership with Brigade Capital Management, a $12 billion New York investment advisor that gives Mohegan Sun Massachusetts the strongest financial platform of any bidder pursuing the Western Massachusetts gaming license.
"Mohegan Sun has been entertaining gaming patrons from Massachusetts and New England and offering a premier visitor experience for 16 years," said Etess. "Our marketing advantage is one of the key strengths of our license application, and the additional creativity and excitement that Finard Properties brings to the Mohegan Sun Massachusetts team stands to enhance that even further."
To learn more about the project and to join Mohegan Sun Massachusetts' growing database, please visit: www.MoheganSunMA.com. You can also like us on Facebook and follow us on Twitter @MoheganSunMassachusetts.
About Mohegan Sun Massachusetts
Mohegan Sun's world class destination casino resort in Palmer will bring new jobs and economic growth to Western Massachusetts. The project will feature a hotel, casino gaming and internationally-known and branded retail stores and restaurants. Mohegan Sun Massachusetts will create thousands of jobs – with the majority of the required workforce expected to come from Western Massachusetts. Mohegan Sun has a long-standing commitment to working with local businesses, community leaders and cultural and tourist organizations. Currently, Mohegan Sun spends nearly $500 million annually in goods and services from local vendors near its Connecticut and Pennsylvania facilities. For more information, please visit www.MoheganSunMA.com
About Finard Properties
Finard Properties is a Boston-based commercial real estate investment and development company with a sixty year history of success and an eye on the future. Entrepreneurial in spirit and approach, the company prides itself in spearheading transformative real estate development projects that create significant value for stakeholders. Finard Properties is active in the areas of asset acquisition and management, ground-up development, redevelopment, and property repositioning. To date, the company has focused primarily on the retail, office, and hospitality sectors throughout New England with market presence in the mid-south and western United States. For more information, please visit finardproperties.com
SOURCE Mohegan Sun Massachusetts
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