VEGAS INC Magazine - Latest Las Vegas business news, features and commentaries about gaming, tourism, real estate and more
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IN BUSINESS HOUSING PANELISTS WILL FORECAST FUTURE FOR LAS VEGAS ECONOMY By Buck Wargo staff writer What’s the future of the Las Vegas home building and housing market for the rest of 2011 and into 2012? Panelists will give their forecast July 20 at the Las Vegas Mid-Year Building Symposium as part of the Crystal Ball Seminar hosted by housing analyst Steve Bottfeld in RETAIL SPORTSMAN’S WAREHOUSE RETURNS TO THE VALLEY By Buck Wargo staff writer A Utah-based retailer that closed two of its stores in Las Vegas after filing Chapter 11 bankruptcy is moving back into the market. Retail developer Territory Inc. announced that Sportsman’s Warehouse will reopen its store at Centennial Gateway at Ann Road and US 95 that it shuttered in 2009. The reopening is expected in March 2012, and Sportsman’s Warehouse will hire as many as 70 employees. “It’s going to take time to staff up, which is good for our town,” said Nick Hannon, a senior vice president. “They’re going to have to stock up with millions in inventory as well.” In March 2009, Sportsman’s Warehouse filed for Chapter 11 bankruptcy, sold 15 of its 67 stores and liquidated 23, including the one at Centennial Gateway and another at Lake Mead Crossing in Henderson. Hannon said Sportsman’s Warehouse, a hunting, fishing and outdoor retailer, was only in its store for a couple of months when the company filed for bankruptcy. The 55,000 square feet left empty was never filled. Territory could have subdivided the space and filled it up with smaller tenants, but it decided to wait for a larger tenant to occupy it, Hannon said. It was built to Sportsman’s Warehouse specifications with an archery, he said. “We kept it in the same condition because we didn’t want to divide it,” Hannon said. “It’s a great box, and there aren’t that many left in the northwest, and we thought a sporting goods store was missing and here we have it.” With the return of Sportsman’s Warehouse, the 335,000 square-foot center will be 75 percent occupied. | 18 JULY 2011 | 15 Zappos.com wants them. St. Rose Dominican Hospitals wants them. The school district wants them. Nevada needs them. And Nevada State College educates them. conjunction with Larry Murphy of research firm SalesTraq. The questions that will be addressed: ■ What are the realistic expectations of today’s homebuyers? ■ What can home builders do to set themselves apart from the rest of the Las Vegas competition? ■ What is the economic and housing future for Las Vegas? ■ What will be the continuing impact of short sales and foreclosures on the Las Vegas new–home market in the months ahead? ■ What are the best–selling new home communities in the market? ■ How can builder sales teams most effectively use today’s financing programs to sell new homes? The program starts at 8:30 a.m. and lasts until 10 a.m. at the Alexis Park Resort Hotel, 375 E. Harmon Ave. The cost is $29 for early registration and there’s a $39 charge at the door. Our students earn four-year degrees in public safety, nursing, education, business and biology. 70% of our alumni stay in the state, making careers with some of Nevada’s top employers. These are the employees we need, so our economy can diversify and thrive. Part of the Solution. 1125 Nevada State Drive, Henderson, Nevada 89002 | 702.992.2000 | nsc.nevada.edu