World Market Center signs 6 more tenants
By Clint Engel -- Furniture Today, March 3, 2002
LAS VEGAS — Developers of the planned World Market Center have released the names of six more tenants — all Western manufacturers, including one that plans to eventually pull out of the High Point and San Francisco markets.
The tenants are Kushwood Mfg., taking about 15,500 square feet; Arbek, about 9,500 square feet; Aspen, 5,600; Creative Ideas, nearly 5,500; Orman Grubb, almost 5,000; and GuildCraft of California, about 3,300 square feet.
Managing partners Jack Kashani and Shawn Samson have billed the World Market Center as a $1 billion, more than 7.5 million-square-foot home furnishings and convention center complex aiming to be the dominant furniture market in the West. The first phase, 12-level World Market Towers building, with more than 1.25 million square feet of showroom space, is expected to open for its first market in early 2004.
Case goods producer Kushwood's Las Vegas showroom will be larger than its San Francisco and High Point showrooms combined. President Dan Kush said he will close his existing showrooms when the leases expire.
Kush said High Point doesn't get enough West Coast retail attendance and is difficult to shop. Las Vegas will be much easier — "almost like a racetrack" layout, he said. San Francisco, meanwhile, has little room for expansion and is "just too small to bring more people in," he said.
Kush believes Las Vegas will draw traffic for several reasons, including easy travel access and food, lodging and entertainment options.
"I think long-term for the industry, only one West Coast market will exist," said Dave Heard, Aspen's vice president of sales. He said it's too early to say which one, but believes the "Las Vegas market will create tremendous new opportunities … and attract additional customers than what the San Francisco market presents."
Larry Quilling, a partner in GuildCraft of California, said he believes the World Market Center will be viable, and that his company — one of the West Coast's largest upholstery manufacturers — needs a presence there. Asked if GuildCraft will continue to show in San Francisco, its only other market, he said, "At this point, we're just going to play it by ear."
Kashani said that more than 160 companies have committed to more than 950,000 square feet in the first phase. He declined to say how many have signed leases. The developers have released 10 names, and said more will be released when tenants give permission.
Others named so far are Fairmont Designs, AICO, Sandberg Furniture and Dinec.
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