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Perini Building Co. Signs Construction Contract with Simon Property Group Inc. for The Forum Shops
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01/16/2005
LAS VEGAS--Sept. 19, 2003--Perini Building Co., a wholly owned subsidiary of Perini Corp. (AMEX:PCR - News), signed a construction contract with Simon Property Group Inc. (NYSE:SPG - News) to expand The Forum Shops at Caesars in Las Vegas. <p> Perini's contract includes building the Phase III expansion, a three-level 175,000-square-foot addition that will connect to the existing shopping center. The expansion will open in the fall of 2004 to a growing list of luxury brand retailers and fine restaurants. <p> The Forum Shops represent the most exclusive retail space in Las Vegas. On an average day, 50,000 people visit the shopping center bringing annual visitor counts to approximately 18 to 20 million. <p>"We are extremely pleased to be working with Simon Property Group, the largest shopping developer in the country," said Dick Rizzo, chairman of Perini Building Co. "The expansion is architecturally unique and when complete will stand out as one of Las Vegas' most impressive icons." <p>"Perini's job is to keep customers coming through the doors during the expansion. We have planned the project in phases and have built temporary entrances and temporary moving walkways and escalators," said Pat Hubbs, operations manager for Perini Building Co. <p>The three-story expansion ties into the north entrance of Caesars Palace and faces the Strip. The site is compact and extremely busy. In addition to logistics, the classic Roman-themed facility is designed as a showpiece. It contains an unusual amount of intricate exterior and interior handwork that requires specialized artisans. <p>Perini estimates that at the height of construction it will hire approximately 400 to 500 craftsmen. In total, the project will employ more than 40 subcontractors and more than 60 suppliers and vendors. <p>KGA Architecture is the executive architect and Dougall Design Associates Inc. is creating the exterior themed concept design and is the project interior designer. Highlights of the interior design include four spiral escalators in the main lobby. Only one other location in the country has a set of spiral escalators. <p>Other major projects built by Perini at Caesars Palace include The Colosseum, the Palace Tower, Garden of the Gods pool, two exclusive pool villas, Centurion Penthouse remodel, exterior facade reskinning, North Casino remodel, Celine Dion's Boutique, and a two-story underground valet parking garage. <p>For the second consecutive year, Engineering News Record has ranked Perini Building Co. as the nation's No. 1 builder of hotels and convention centers in the United States according to revenues. The company has seven offices throughout the country and one in Mexico. <p>About Perini Corp. <p>Perini Corp. and its companies (Perini Building Co., Perini Civil and Perini Management Services Inc.) provide general contracting, including building and civil construction, construction management, and design-build services to private clients and public agencies in the United States and selected overseas locations. Perini Building Co. is known for its construction expertise in hospitality and gaming, corrections, health care, education, and sports and entertainment. Additional information is available at www.perini.com. <p>About Simon Property Group <P>Simon Property Group Inc., headquartered in Indianapolis, is a real estate investment trust engaged in the ownership and management of income-producing properties, primarily regional malls and community shopping centers. Through its subsidiary partnerships, it currently owns or has an interest in 239 properties containing an aggregate of 184 million square feet of gross leasable area in 36 states, as well as nine assets in Europe and Canada. Additional Simon Property Group information is available at www.simon.com.
