World Market Center Names Board Of Advisors

Furniture World News

World Market Center SM announced its inaugural Board of Advisors in conjunction with the group’s first board meeting held at the Bellagio Hotel in Las Vegas on Sept. 24. Those named are Michael Amini, Aico; Ken Kallett, Dale Tiffany; Dan Kush, Kushwood; Irwin Allen, Michels-Pilliod; John Sandberg, Sandberg Furniture; Bob O'Neill, Southern Textiles; Don Kunz, DMI; John Wampler, Pulaski; Don Mecke, Standard Furniture; Steve Balsamo, Creative Ideas; Bill Vaughan, Vaughan Furniture; Jeffrey Rose, Robert Abbey; and Steve West, Somerset Studios. In addition to these companies, there are five advisors whose names have not been released, but who represent large Eastern companies. According to Dave Palmer, the project’s general manager and director of leasing, “our desire is to create an advisory board that mirrors the diversity of World Market Center SM as well as brings together industry leaders who share a common vision to make Las Vegas an outstanding, one-of-a-kind market. We have a very nice balance of east coast and west coast companies represented. Their input will be critical to our success.” “We are very proud to host this distinguished group of professionals in Las Vegas for yet another milestone event for World Market Center SM,” said Shawn Samson, co-managing partner of the proposed $1 billion, 7.5-million-square-foot project. “We have carefully appointed each member of this board, and are privileged that they have accepted the distinct opportunity to help shape the future of the Las Vegas market.” The meeting opened with a tour to the location of the future Las Vegas home furnishings market: An expansive 57-acre acre site near downtown. Impressed with the project’s winning location – at the intersection of two major interstates I-15 and U.S. 95 – advisory board members listened intently as the project’s executive architect, Ed Vance of JMA Architecture Studios, offered a conceptual overview of Phase One. “As you can see, we are fortunate to be building this project on a prime piece of land in the Las Vegas valley. In fact, this is probably one of the last strategically located undeveloped acreages of this size in the city,” said Vance. “This land is as special as World Market Center SM itself. We are not just building a building; we are building a business and a future industry.” A three-hour meeting among World Market Center SM officials and its advisory board followed the site visit. The agenda items for review and discussion included: an update on leasing plans and Phase One exhibitors; construction and development updates; new floor plans and architectural renderings; key issues pertaining to operations, access and amenities; marketing and advertising strategies including alliances with hotel and tour operators; and, of course, plans for Las Vegas’ first market. Virtually every board member said they believed the industry is in great anticipation of the Las Vegas market, and as a result, prefers to see the earliest possible date for the grand opening. Initiated by board members, there was also discussion about the project’s international appeal. Las Vegas, poised to become an international phenomenon, must be positioned to handle international buyers and exhibitors, said board members. Leasing officials reported that they have obtained about 185 signed tenants representing more than 900,000 square feet of space. Noting that the groundswell of interest in sure to escalate when the project officially commences construction, several board members agreed that the Las Vegas market should be prepared to pre-lease the second and third buildings as early as next year. The day-long event culminated with a private dinner reception in a Bellagio ballroom, where many business and civic leaders, including City Councilwoman Lynette Boggs-McDonald, joined the group. Boggs-McDonald has been a big supporter of World Market Center SM since visiting the High Point, N.C. market last year. In all, World Market Center SM hosted a group of about 40 people, including 14 of 18 board members, some board members’ spouses, city and community leaders, and architects, engineers and others involved in the project. “The day’s discussion was lively, informative and very productive,” said Palmer. “We look forward to seeing the board members at our groundbreaking event.” World Market CenterSM is scheduled to begin construction in the first quarter of 2003 on its first phase to be located in the heart of downtown Las Vegas. When fully developed, World Market CenterSM will boast 7.5 million square feet in showrooms, Design Center and convention center facilities – making it the West’s largest and most comprehensive campus serving the home furnishings industry. For more information, visit www.LasVegasMarket.com.