On July 17, 2008, Trademark Property Company announced the closing of its acquisition of the Padre Staples Mall in Corpus Christi, Texas in an off-market deal for an undisclosed amount estimated to be higher than $100 million. The developer said it would "immediately begin" a $50 million transformation and renovation of the 1,017,704-square-foot super-regional mall, and has renamed the mall La Palmera. The project is scheduled for completion fall 2009. Trademark's joint venture project on La Palmera is Institutional Mall Investors LLC, an institutional investment entity jointly owned by the California Public Employee's Retirement System (CalPERS) and an affiliate of Miller Capital Advisory (MCA). There are currently 100 tenants in the Padre Staples Mall including Abercrombie & Fitch, American Eagle, Buckle, Dillard's, Express, Forever 21, Gap, Macy's, Nine West, New York & Co. and Victoria's Secret. Trademark hopes to turn the mall into a "leisure destination" by improving shopping and dining options, as well as modernizing the nearly 40-year-old mall. A 50,000-square-foot addition and new parking garage are likely part of the plan and further off possibilities include adding a second floor to the mall and/or creating a mixed-use development with offices and residences. Trademark said it would pursue LEED (Leadership in Energy and Environmental Design) certification for the facility from the U.S. Green Building Council.