At The Top - December 2006

Plise Companies, LLC

Planning for the Future

by Kim Becker

Real estate and commercial development companies are faced with a variety of challenges in Southern Nevada’s business climate today. From the lack of affordable land and rising construction costs to timing issues for permits and entitlements, it’s becoming increasingly difficult to remain competitive. However, Plise Companies, LLC (Plise) continues to be ranked among industry leaders as one of the largest commercial real estate developers in Southern Nevada.

Plise, established in 1994 by native Las Vegan and company CEO Bill Plise, has grown and evolved over the last 12 years from custom home building to full-service commercial real estate. Today the company specializes in strategic land acquisition, design and construction, and has developed professional and medical office parks, retail centers and light industrial facilities that consistently earn awards for their quality and innovation.

The company also offers professional development consulting services to third-party real estate investors and serves as fiduciary manager. It acts as its own general contractor through a subsidiary company, Plise Development & Construction.

Plise currently has 5 million square feet of Class A office, retail and mixed-use projects under development or already completed in Southern Nevada. These projects include Rainbow Sunset Pavilion, Centennial Corporate Center, Siena Office Park, Rainbow Quail Plaza, Rainbow Diablo Professional Office Building and what may become the company’s masterpiece – City Crossing. It’s a mixed-use project near Henderson Executive Airport, located near Bruner Avenue and Executive Airport Drive, just east of the intersection of Las Vegas Boulevard South and St. Rose Parkway.

“We recognized this location as a prime spot with great accessibility,” said Mitchell Stipp, COO and general counsel for Plise. “City Crossing will offer retail under residential, and the synergies between the two uses are endless.”

The project encompasses 126 net acres with 1 million square feet of Class A office space, 550,000 square feet of retail space and 2,500 residential units that will be constructed by home-building companies. In all, the project will span 6 million square feet of development, with buildings as tall as 150 feet (or 10 stories).

“Office design must make the business park more of a destination. It must create an experience. Tenants must have a feeling of ownership,” said Stipp. “Amenities play an important role in building office parks.”

Stipp is enthusiastic about the future of City Crossing, which is described as a community where people will live, work, exercise and play in a connected urban neighborhood. He expects the mix of upscale shopping, fine dining, entertainment options and office professional and upscale residential elements will welcome residents and workers alike.

“The residential and retail combined with the professional space will create in City Crossing a virtual town of its own,” said Stipp. “We’ll have a fitness facility, movie theater, coffee shops, retail shops and much more within the development so residents will never have to leave.”

With City Crossing underway and other projects under consideration, Stipp expects Plise to continue developing Class A office and retail projects locally over the next two years, eventually branching out to become a regional force in California, Arizona and New Mexico.