World Market Center Las Vegas real estate opened it’s second building totaling 1.6 million square feet along with hosting the Las Vegas Market, the home furnishing trade show and convention. The Center is 16 stories and worth $345-million of the total eight buildings that will cost $3 billion. The 12 million square feet in the eight buildings makes it the world’s largest trade show complex.
The 1.3-million square feet World Market Center Tower One building opened fully leased in July 2005. The $345-million Market Center Tower second building was fully leased in August. The largest World Market third building with 2.1 million square feet started construction in October and is scheduled for completion in 2008.
The World Market Center Las Vegas commercial real estate is an integrated hospitality and home contract furnishings convention complex and showroom in Las Vegas, Nevada real estate where manufacturers and designers and lease space to show off their latest products to worldwide wholesale buyers. There were close to 60,000 furniture designers, retailers, manufacturers and specifiers are expected to attend 1,200 exhibitors at three show locations.
Depending on the leasehold’s size, location, and length of commitment of the lease rates varied accordingly. A lease tenant in the World Market second building last year signed a triple-net lease for 16,000 square feet on the 13th floor that carried a rental rate in the mid $20s per square foot per year.
Open year round for the trade, the first four floors of building three will operate as a design center. The remainder will be sectioned into categories including lighting, floor coverings and furniture. The first and second buildings in Las Vegas, NV are connected on floors two through 10 by sky bridges. The Las Vegas commercial project’s second and third buildings are connected on every level by a sky bridge.
Last October, Beverly Hills, CA real estate developer Robert Zarnegin showed plans for a one-million-square foot complex that will include a 50 story trade tower. Included in this tower will be Las Vegas luxury condos, corporate gem and jewelry offices closed to the general public.
The World Jewelry Center tower would have at least seven floors of Las Vegas hi rise condominium units, with expected cost of several hundred million dollars. The Former president of the Gemological Institute of America, Bill Boyajian, will be project manager. The project is slated to begin within the next year with completion for mid-2010. Source: Globe Street
World Market Center Towers a,b and c construction progress news.
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