Building Nevada Briefs - August 2002

Building Nevada Briefs

Longford Group Developing Medical Facility

Longford Group will break ground in the fourth quarter of 2002 for a 66,000-square-foot, five-story, Class A medical office building in Northwest Las Vegas. Longford Medical Center will be located adjacent to Summerlin Parkway off the Buffalo Drive exit. Longford leasing officials said it will be the first medical building in the Las Vegas Valley to offer professionals the option to either buy or lease their space. The medical center will feature a five-story tower with a two-level, enclosed parking structure. Other amenities include a private garage with key access, central security and reception area, state-of-the-art technology and energy efficient designs. Howard Thompson and Associates provided architectural design services for the building, which is scheduled for completion in the third quarter of 2003. Gail Newton, director of commercial leasing and sales for the Longford Group, will be leading the project. Lucinda Stanley of Coldwell Banker is the exclusive listing agent.

Work on Orleans Arena Progressing

Coast Casinos, owners of The Orleans Hotel & Casino in Las Vegas, is continuing work on The Orleans Arena, a 9,000-seat multi-purpose sports and entertainment venue expected to host events such as concerts, prizefights, equestrian shows, competitions, motor and team sports, conventions and family shows. A topping-off ceremony was held in July for the arena, which is part of an overall $150 million expansion of The Orleans. The arena will feature a 500-foot moving walkway to The Orleans hotel, as well as parking for 8,000 vehicles. Completion is scheduled for spring, 2003. Steven Stallworth, vice president of the arena, estimates 100 events of various sizes will be held during its first year of operation, attracting more than 600,000 people. The Orleans Arena will feature 24 luxurious VIP suites, each seating up to 24 people, in addition to 220 club seats on a private concourse level.

Shopping Center Planned for Sparks

Crews broke ground in mid-July for a 13-acre Tuscan-themed shopping center on the southeast corner of Vista Boulevard and North D’Andrea Parkway in Sparks. Scheduled for completion in spring of 2003, D’Andrea Ranch Marketplace will provide retail opportunities for residents of the D’Andrea master-planned community, as well as the surrounding area. Wall Street Property Company, the developer and owner of D’Andrea Ranch Marketplace, has developed several other shopping centers in the Reno/Sparks area, including Redfield Promenade, Galena Junction and Sparks Mercantile. With a northern Tuscan design, the retail center will be highlighted by tumbled cobblestone walkways and stone exteriors, as well as other upscale finishes. Colliers International, leasing agent for D’Andrea Ranch Marketplace, said the project was 90 percent pre-leased before ground was broken.

Las Vegas Downtown Gets Outlet Center

Simon Property Group, owner of the Forum Shops at Caesars, is partnering with Chelsea Property Group to build a 430,000-square-foot retail development on a 40-acre parcel of land near the Clark County Government Center in downtown Las Vegas. Ground was broken in July for the $90 million Las Vegas Premium Outlets project, scheduled for completion in fall of 2003. The center will focus on high-end retail shops. The two developers have partnered on a similar project in Florida, called Orlando Premium Outlets, whose list of tenants includes Tommy Hilfiger, Versace, Giorgio Armani, DKNY and Polo Ralph Lauren. The city of Las Vegas granted the Simon/Chelsea partnership a total of $200,000 in tax incentives over the next 13 years to build on the parcel, located between Grand Central Parkway and Interstate 15.