LAS VEGAS -- Officials of the World Market Center recently held a groundbreaking ceremony for the third building of the home furnishings showroom complex.
The 16-story, 2.1 million-square-foot building is being constructed at an estimated cost of $550 million. It is larger than the first two World Market Center buildings. When completed, the complex is to comprise eight buildings totaling 12 million square feet.
Shawn Samson, co-founder and managing partner of World Market Center, said, "The groundbreaking of the third building marks the milestone in our race to fulfill the vision of World Market Center as the predominant international market for the industry."
Jack Kashani, co-founder and managing partner of World Market Center, said that 25% of the third building has been pre-leased before the start of construction.
The managing partners also recognized executives of Ashley Furniture and AICO. Ashley Furniture leases the largest space in the second building and AICO, which has leased space in the third building, will become World Market Center’s largest tenant.
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