From Home Furnishing Business
Las Vegas Home Furnishings Area 96 Percent Leased
Growing demand among existing tenants looking to expand their footprint along with new suppliers has led to a reported 96.4 percent occupancy on the 21 floors that carry furniture and mattress lines. That's the highest occupancy levels for permanent floors since the opening of Building C in 2008.
"All indicators point to the Winter 2014 Las Vegas Market being one of our strongest markets over the last decade," said Craig Staack, vice president of home furnishings leasing for International Market Centers. "The momentum we have in terms of both exhibitor and buyer growth is remarkable and has fueled an occupancy of over 96 percent across our furniture and mattress floors, which adds up to almost two million square feet of showrooms and new products."
A flurry of new momentum in Building B includes Italian leather furniture vendor Natuzzi (B-570) showing for the first time at Las Vegas Market in more than 13,000 square feet of space. In addition, a newly remodeled showroom will debut for leather upholstery producer Violino (B-870) in more than 13,000 square feet; and upholstery furniture leader England, a La-Z-Boy Company, signed a new lease in Building B (B-965) for more than 7,500 square feet.
Several new additions will be exhibiting on B1, the first floor of Building B featuring unique home furnishings lifestyle brands, including Canadian home furnishings supplier CDI (B-170) in 3,824 square feet of space, as well as handcrafted home furnishings manufacturer Cristo Rey (B-160) in 2,817 square feet of space.
Building B has also seen significant growth in the contemporary furniture category. The Modern Trends destination, located on B6 and B7, continues to expand with a number of new leases. Among the new tenants joining Building B's Modern Trends floors are ready-to-assemble furniture leader Tvilum (B-654) with a new 3,122 square foot showroom; hand-crafted and USA-made Oios Metals (B-658) in 2,262 square feet of space; world-class custom upholstery company Huntington (B-624) with 2,131 feet of space; contemporary furniture maker Chairtech (B-745) in a 2,503 square-foot showroom; Canadian-based furniture distributor LH Imports (B-750) with 2,299 square feet; Vermont-based natural hardwood furniture maker Copeland Furniture (B-728) with 3520 square feet; and leading fine metal furniture manufacturer Amisco (B-718) with 3107 square feet of space.
In addition, Building B was the site of the major expansion and relocation of Sunpan, a company that specializes in the design and manufacturing of transitional and contemporary furnishings, in a newly built 12,000 feet anchor space (B-700), which effectively doubled their showroom at Las Vegas Market.
In Building A, Parker House, a family owned and operated furniture company since 1946, has doubled the size of their showroom to almost 20,000 square feet and has relocated to A-1053. Additional new tenants in Building A include armchair industry leader Barcalounger (A-648); Vaughan (A-1019), a long-standing value-driven furnishings company; and high-quality leather manufacturer Palatial (A-1052).
Further, Las Vegas Market-the national bedding market-continues to expand with the following new additions in the mattress and bedding category: Wolf Bedding (A-1009) in 2,508 square feet; luxury memory foam maker Easy Rest (A-849) in 2,103 square feet; Softide (B-966) in 2,280 square feet; Dreams Sleep (B-958) in 2,290 square feet; fine specialty pillow and topper manufacturer Blu Sleep (B-960) in 1,851 square feet. Rounding out the 15th floor of Building C-the one-stop destination for mattress suppliers-includes an expanded presentation by fine Italian mattress importer Grupo Buoninfante (C-1562) in 1,996 square feet; latex foam rubber mattress manufacturer Prana Sleep (C-1564) in 3,436 square feet; ecologically-friendly mattress company Spaldin Sleep (C-1568) in 1,901 square feet; and organic sleep products company Natura (C-1576) in a 7,407 a square foot showroom.
"Renewed confidence in Las Vegas Market has contributed to the growth of existing showrooms and the rapid addition of new lines, which has in turn created a critical mass of furniture and mattress exhibitors on our campus," Staack said. "In combination with a growing base of retail attendance, we expect 2014 to deliver two highly successful and exciting markets in Las Vegas."