Ashley likes Las Vegas
Already plans larger showroom
By Clint Engel -- Furniture Today, May 1, 2005
Las Vegas — Even before the first market here, Ashley Furniture is set to triple its space with a new showroom in the second phase of the World Market Center.
The manufacturer and importer will take 62,000 square feet on the top level of the 15-story, 1.6 million-square-foot building, said Babs Blair, WMC leasing director. Groundwork is expected to be under way on the second building by the time of the first WMC home furnishings market this July 25–29 and completed by January 2007.
For the first three markets, Ashley will be showing in 20,000 square feet on the sixth floor of the first building. It was one of the last exhibitors to secure permanent space in the first 1.3 million-square-foot, 10-level facility, now fully leased.
"It's really sizing the showroom to what are needs are," said Ashley CEO Ron Wanek.
The company sought at least 40,000 square feet in the first building, but that wasn't available. Ashley's space in the second building will be nearly the size of its Tupelo market space, which is about 65,000 square feet, and about half the size of its 135,000-square-foot space in the International Home Furnishings Center in High Point.
Ashley will pull out of San Francisco, where it has about 25,000 square feet, following the Aug. 3–6 market this summer, Wanek said.
"They're obviously going to focus on accessories and designers," he said. "We were in Dallas till the very end. They tried that, and it just isn't a draw anymore for furniture."
Without downplaying the importance of High Point, Wanek sees great potential in Las Vegas, where he believes traffic will be three to four times greater than at recent San Francisco markets.
"We've got a lot of dealers excited about going to Las Vegas, and it isn't all from the West. It's from all areas," he said, adding that Ashley is "very happy with the High Point market, and the building that we're in has always treated us very nice. I think the major dealers will still (come to) High Point."
The same goes for Tupelo. "I think Tupelo will remain an important market," Wanek said, and Ashley remains committed to it.
Blair said she doesn't anticipate any trouble leasing Ashley's space in the first building, adding that a company she wouldn't identify already has expressed interest.
Roughly 65% of the second building is leased, and WMC expects to name other key tenants soon, she said.
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Ashley likes Las Vegas
May 2, 2005
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