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Majestic Realty’s Las Vegas Legacy - Las Vegas, NV
Majestic Realty Co. was destined to do business in Las Vegas. The late
Edward P. Roski, Sr., who founded Majestic in 1948, always loved visiting Las Vegas.
It was only fitting then that Majestic Realty Co. would begin looking at
property in the burgeoning Las Vegas marketplace in the late-1980s. Recognizing the potential
for economic growth in Southern Nevada, company officials acquired their first Las Vegas land
parcel in 1992-building the popular Silverton Hotel & Casino on Blue Diamond Rd., just five
miles from the famed Strip.
"Due to an ever increasing demand for industrial and commercial real estate
development, we identified Las Vegas as a strategic location for regional distribution centers,"
Ed Roski, Jr. said. "In addition to being the fastest growing city in the United States, its
proximity to all major markets on the West Coast, Las Vegas offers access to a major international
airport and interstate highways. It was an obvious choice for us to begin developing property here."
Today, one decade after the company first built Silverton, Majestic Realty
Co. is a leader in Las Vegas-area real estate development.
Tradeshow Leaders Set Pace With Recent Leases
In December 2002, Majestic will put the finishing touches on an 860,000-sq.
ft. build-to-suit property developed for GES Exposition Services, the largest tradeshow and
event marketing company in North America. Majestic's Beltway Business Park, a 400-acre
commercial development is located at the intersection of I-215 and Decatur Blvd. The multi-use
business park, which will include office and industrial buildings, is being developed by
Majestic in partnership with Thomas & Mack Development Group, Inc.
GES selected Beltway for its closeness to Las Vegas' hotels and convention
facilities, which play host to the region's $4.8 billion convention and trade show industry.
Its clients include major corporations and many of the world’s largest trade shows, including
the Consumer Electronic Show, the PGA Show and the National Association of Broadcasters.
At Majestic's Sunset Parkway Business Center in Las Vegas, where Phase Two
is presently under construction, two other tradeshow and exhibition companies recently signed
leases for space totaling 288,500-sq. ft. Champion Exposition Services, Trade Show Specialists,
Czarnowski Display Services and CORT Business Services, Corp. will fill 83 percent of the space
in the park, leaving 43,800-sq. ft. available for prospective tenants.
Las Vegas Development Tops 3 Million Sq. Ft.
With seven successful projects under its belt, Majestic Realty's Las
Vegas-area real estate portfolio totals 3,055,000 sq. ft. Company officials report a 99-percent
occupancy rate-a fact they credit to strategic development locations near McCarran International
Airport and high-quality amenities.
Majestic's local developments include the 115,000-sq. ft. Majestic Post
Industrial Center built in 1995; the 410,000-sq. ft. Russell Road Distribution Center built
in 1996, and the 560,000-sq. ft. Sunset & Valley View Distribution Center completed in 1998.
In 1999, the company built the 337,000-sq. ft. Majestic Runway Center; followed by the
488,500-sq. ft. Majestic Runway II (Sunset Parkway) in 2001 and the 856,000-sq. ft. Majestic
Runway III (Sunset Parkway) in 2002.
High-profile tenants at Majestic's Las Vegas area properties include: 4
Wall Enterprises, Alliance Gaming Corporation, American Hotel Register, Bassett Furniture
Direct, Bellagio, LLC, Cable Design Technologies, Champion Exposition Service, CORT Business
Services, Corp., CSI Crown, Inc., Czarnowski Display Services, Discount Package Supply, El
Portal Group, Inc., Forward Air, Inc., Freeman Decorating, Furniture Source of Nevada, GES
Exposition Services, Inc., Grove Madsen Industries, Inc., Imprints Wholesale, Mandalay Bay
Resorts, MC2, Inc., Nevada Water Company, Showtime Enterprises, Inc., Skaggs Companies,
Inc., Trade Show Specialists, W. H. Smith Airport Services, and XPEDX.
For information about leasing opportunities at any of Majestic's Las
Vegas properties, contact Rod Martin at (702) 896-5564.. |
