LAS VEGAS-- The Howard Hughes Corporation® and Crate and Barrel announced today that the retailer signed a lease to open a store at Downtown Summerlin®, the 106-acre premier fashion, dining and entertainment destination located in the heart of the acclaimed Summerlin® master planned community. This will mark the first Nevada location for the industry-leading home furnishings brand, known for its exclusive inspirational designs, excellent value and superb customer service.

“We are pleased to welcome home furnishings leader Crate and Barrel to Downtown Summerlin," said David R. Weinreb, Chief Executive Officer of The Howard Hughes Corporation. “As yet another first-to-market retailer, this addition further cements Downtown Summerlin as the ultimate shopping, dining and entertainment destination for the entire Las Vegas Valley.”

Crate and Barrel will be located on the northwest end of Downtown Summerlin and will neighbor Lazy Dog and Ethan Allen.

“We are excited to announce the opening of our first Nevada location in Summerlin,” said Doug Diemoz, Chief Executive Officer of Crate and Barrel. “We've wanted to be in the Las Vegas area for some time, and the enthusiasm surrounding our Fall 2013 pop-up shop confirmed just how important a market this is for Crate and Barrel. Downtown Summerlin is the ideal location, and we can't wait to open our doors.”

“This is such an exciting addition for Downtown Summerlin and the residents of southern Nevada,” said Clark County Commissioner Susan Brager, District F. “Crate and Barrel has long been rumored to be coming to our valley, so the reality of its arrival is even sweeter and speaks to our area’s economic vitality. We are pleased to welcome Crate and Barrel to both Downtown Summerlin and Clark County.”

Since opening in October 2014, Downtown Summerlin has welcomed an estimated 17 million visitors, opened 115 retailers and steadily increased occupancy to 90% leased. The initial phase consists of 1.4 million square feet of mixed use development on 106 of the approximate 300 developable acres in the heart of Summerlin. ONE Summerlin, Downtown Summerlin’s first Class-A office building, is currently 70% leased; and Downtown Summerlin’s first multifamily residential development, the Constellation, a joint venture of The Howard Hughes Corporation and the Calida Group, will soon begin leasing 124 luxury rental units.

More information and details soon to come.

About Crate and Barrel

Crate and Barrel is an industry-leading home furnishings specialty retailer, known for its exclusive designs, excellent value and superb customer service. Working directly with European ateliers and factories, Crate and Barrel was among the first to introduce affordable household goods and contemporary home décor to American consumers. Founded in 1962, the brand's essence has translated perfectly to the omni channel era more than 50 years after opening its first store. The Crate and Barrel family of brands, which includes CB2 and The Land of Nod, is owned by Otto Group, a global retail and services group based in Hamburg, Germany. For more information, visit www.crateandbarrel.com.

About Downtown Summerlin®

Downtown Summerlin is part of a planned urban center, serving the entire Las Vegas Valley. It includes retail, entertainment, office, hotel and multi-family residential elements, all designed to create a vibrant, walkable urban core within the 22,500-acre master planned community of Summerlin. In October 2014, the expansive, 106-acre, 1.4 million-square-foot Downtown Summerlin, which represents the first phase in the future downtown, opened to the public. Downtown Summerlin features more than 115 stores and restaurants in a streetscape-shopping environment with pedestrian thoroughfares and dynamic storefronts in the center of the award-winning Summerlin master planned community. Located just east of the 215 Beltway, between Sahara Avenue and Charleston Boulevard, the development also includes a nine-story office building, ONE Summerlin. Additional information can be found on the website at www.downtownsummerlin.com or on Facebook and Twitter.

About The Howard Hughes Corporation®

The Howard Hughes Corporation owns, manages and develops commercial, residential and mixed-use real estate throughout the U.S. Our properties include master planned communities, operating properties, development opportunities and other unique assets spanning 16 states from New York to Hawai‘i. The Howard Hughes Corporation is traded on the New York Stock Exchange as HHC with major offices in New York, Columbia, MD, Dallas, Houston, Las Vegas and Honolulu. For additional information about HHC, visit www.howardhughes.com, or find us on Facebook, Twitter, Instagram and LinkedIn.

Safe Harbor Statement

Statements made in this press release that are not historical facts, including statements accompanied by words such as “will,” “believe,” “expect,” “enables,” “realize”, “plan,” “intend,” “assume,” “transform” and other words of similar expression, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s expectations, estimates, assumptions, and projections as of the date of this release and are not guarantees of future performance. Actual results may differ materially from those expressed or implied in these statements. Factors that could cause actual results to differ materially are set forth as risk factors in The Howard Hughes Corporation’s filings with the Securities and Exchange Commission, including its Quarterly and Annual Reports. The Howard Hughes Corporation cautions you not to place undue reliance on the forward-looking statements contained in this release. The Howard Hughes Corporation does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release.

Monique Clements, 702-832-1050
monique.clements@howardhughes.com
or
The Howard Hughes Corporation (Corporate Office)
Caryn Kboudi, 214-741-7744
caryn.kboudi@howardhughes.com
or
HL Group (Crate and Barrel)
Ingrid Thorlaksson, 323-988-0803
Ithorlaksson@hlgrp.com

Source: The Howard Hughes Corporation