Denver-based Gart Properties, together with ING Clarion Partners LLC, acquired the 350,000-square-foot Denver Pavilions for $94.5 million, or approximately $270 per square foot. The three-story open-air shopping complex was built for $107.5 million and opened November 1998. It is host to about 50 retailers, restaurants and entertainment tenants including a UA movie theatre (79,438 sq. ft.), Virgin Megastore (70,000 sq. ft.), NIKETOWN (29,324 sq. ft.), Barnes & Noble (28,500 sq. ft.), Lucky Strike (21,583 sq. ft.), Maggiano's Little Italy restaurant (19,808 sq. ft.), Coyote Ugly (18,000 sq. ft.), Forever 21 (17,195 sq. ft.), Beyond (13,203 sq. ft.), Hard Rock Café (11,736 sq. ft.), and many more. The property, located on Denver's 16th Street Mall, will undergo a $25 million renovation beginning in early 2009. Gart is marketing the second-floor space of the former Wolfgang Puck restaurant for lease and plans to bring in another big-name restaurant. Gart may also see the Virgin Megastore space become available; as rumors are circulating that all remaining U.S. Virgin Megastores may close. Gart also owns the California Mall, which is located directly across from Denver Pavilions. Gart is marketing 30,000 square feet for lease at $20 per square foot, triple-net in the 40,000-square-foot building. Tenants at this building include Chipotle, Einstein Bros. Bagels, Arby's, Washington Mutual, and Great Clips.