The trio will occupy approximately 114,000 sf of the 350,000-sf development. Construction of their buildings is slated to begin in March 2008 and be complete by the end of the year. Both the shopping center and the power center before it are owned by a joint venture that also includes Schwartz Development and Olympia Development.
Sportsman's Warehouse signed a 15-year lease for 55,465 sf and 24-Hour Fitness signed a 15-year lease for 45,000 sf. Fresh & Easy, a new US chain by UK-based Tesco, signed a multi-year lease for 13,913 sf. The first phase of Centennial Gateway is occupied by Lane Home Furnishings, Ashley Furniture, and La-Z-Boy. The national furniture retailers occupy a combined 75,000 sf.
Centennial Gateway's predecessor, Centennial Center, is anchored by Wal-Mart, Sam's, Ross, Home Depot, Office Max, Michaels and Circuit City. Together, the two centers will total more than 1.2 million sf.
Centennial Gateway is one of several projects Territory has under construction in the Las Vegas Valley. The company is also developing Corner, a 350,000-sf development in North Las Vegas at the northeast corner of Craig and Losee roads that will be anchored by Sam's Club and Lowe's.
The company is also under construction for the second phase of Southern Highlands Marketplace, its 190,000-sf center at the entrance to the Southern Highlands master planned residential development, and Commerce Commons, a 150,000-sf grocery-anchored center at the southeast corner of Centennial and Commerce in North Las Vegas.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
