LAS VEGAS BUILDING B NEARS COMPLETION; MOVE-IN BEGINS IN NOVEMBER Lissa Wyman, editor and publisher of Rugnews.com with Las Vegas Mart founding partner Jack Kashani at Tuesday  press conference at the top of Building B

By Lissa Wyman

LAS VEGAS -- Tenants will begin moving into the 1.6 million sq. ft.  Building B at the Las Vegas Market Center in November in preparation for the building's official opening January 29 to Feb. 2, 2007.

Exhibitors such as Nourison, Oriental Weavers of America, Feizy, Momeni and Trans Ocean Imports are already choosing paint and flooring as they prepare for the big move. "I was in the new building a few days ago, and the project is right on schedule. They've already painted the walls and put in the lighting at the new showroom," said John Feizy, president of Feizy.

"We chose  flooring a few weeks ago and the experience was very positive," said Charley Peck, president of Trans Ocean. "The contractors were most helpful and co-operative."

On Tuesday, July 25, Las Vegas Market Center executives gave members of the press a sneak preview of the new $345 million building, with a walk-through of the top floor of the building. The 16th floor, with spectacular view of downtown Las Vegas, the Strip and the WMC campus,  will be a non-showroom area that will be used as for such activities as special events, seminars, business offices for industry associations, an international buyers' lounge, dining, entertainment and media.

Building B is fully leased to nearly 300 home furnishings manufacturers. "With the opening of the second building, 13 of the top 25 U.S. furniture manufacturers and exhibitors will be exhibiting at Las Vegas Market," noted Dave Palmer, general manager of the LVMC.

The completion of Building B will more than double the size of the Las Vegas complex. Building A, completed a year ago, houses 230 tenants in 1.3 million sq. ft.  Building B will have 300 tenants in 1.6 million sq. ft.

Rug tenants in Building B include Company C, Feizy Rugs, Foreign Accents, Home Dynamix, Jaunty Co., Kaleen Rugs, Kas International, Loloi Rugs, Momeni, Nourison, Orient Express Rug Imports, Oriental Weavers USA and Trans Ocean Imports.

Building B incorporates a "racetrack" corridor floor plan, with the first 10 floors connected by sky bridges to all floors of Building A. The first two floors will be a year-round Design Center, accessories and home accent companies will be located on floors three through five, and furniture and bedding companies will be located on floors six through 15.

When completed in 2013, the LVMC showroom complex will have 12 million sq. ft. in eight buildings. It will be the largest trade show complex in the world, according to LVMC. Originally conceived as a $2 billion project, the total cost  is now estimated at $3 billion.

Moving forward, leasing is now in full swing for Phase 3, which will have 2.1 million sq. ft.  A parking garage will also be built in that time frame. "The steel has been ordered and we'll start moving dirt in September. We are on schedule for a July 2008 opening," said Gerry Sawyer, chief operating officer of World Market Center, who led a band of approximately 25 journalists on the construction site.

Two floors of Building C are now being ear-marked for the rug industry, according to Palmer. Each floor measures approximately 140,000 sq. ft. Palmer told Rugnews.com that there is not yet official word on rug tenants in Building C. Several rug exhibitors in Buildings A and B will move to Building C when it is completed in July 2008, Palmer noted.

Building C will also possibly house tenants from other segments of the floor covering industry, Palmer said. "We just began the leasing process, so it is too soon to talk about the direction we are going," he said.

 

View from the top of Building B at Las Vegas World Market Center. It is the tallest building in Downtwon Las Vegas.

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