Tenants sought for around the new Wal-Mart
October 31, 2005
About 30 acres of vacant land surrounds Carson City’s new Wal-Mart Supercenter off East College Parkway. Even though the landowners are seeking to develop commercial centers, the leasing is moving slowly and only one developer has submitted building permit applications.
Even before the Wal-Mart opened on Wednesday, consumers have been driving past vacant lots advertising the leasable space. So far developers are not confirming any tenants surrounding the Wal-Mart. This isn’t unusual, one economic official said Monday.
“It’s a normal thing,” said Northern Nevada Development Authority Executive Director Ron Weisinger. “People are jockeying and trying to get the best possible deal. Owners are trying to get the best possible deal for their money. Renters are trying to get the best possible deal. They’ll come to a happy medium.”
Al Bernhard, who owns about six acres north of the supercenter, said Monday he has submitted building permit applications for two of his planned buildings.
The planned fast food restaurant, which will be located at the corner of Retail Drive and East College Parkway, doesn’t yet have a tenant. Neither does the building planned for farther south on Retail Drive.
Retail Drive is the new name for the portion of Hot Springs Road between Roop Street and College Parkway. A section of it was abandoned and is closed for traffic. A new intersection with a signal light at the North Roop Street and Hot Springs Road intersection will be open for traffic in about two months, the city engineer has said. The new intersection will give drivers access to the west side of Wal-Mart’s parking lot.
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“I want retail sales in there but I don’t have any particular person in mind,” Bernhard said.
Developer Gary Stokes, of Gilroy, Calif., is also looking for tenants.
“We will either do a land lease or a build-to-suit,” he said Monday. “And we’re talking to about four or five people right now.”
Stokes is a retired civil engineer who has developed small commercial centers in the California cities of Redding, Chico and Fairfield. He has worked as a developer for 45 years. Stokes is looking for commercial renters for his 1.8 acres north of Wal-Mart at Market Street and College Parkway.
“I don’t know about when we’ll be breaking ground,” he said. “It’s a small parcel so you have to have it all leased out before you break ground.”
The largest land owner adjacent to Wal-Mart is North Carson Crossing, which is owned by George Karadanis and Kent Witt. The Secretary of State’s office lists the corporation as based in Las Vegas. Witt could not be reached for comment. The company owns about 23 acres that abuts the new Highway 395 freeway.
North Carson Crossing bought the property from Roger Shaheen in 2004, according to Carson City Assessor’s records.
n Contact reporter Becky Bosshart at firstname.lastname@example.org or 881-1212.
Land owners in Wal-Mart shopping center off East College Parkway:
4.3 acres north of the supercenter
Assessed value: $80,625
Has submitted to the city for a master plan review and for a building permit for one building at the corner of Retail Drive, formerly Hot Springs Road, and College Parkway. The building is permitted for drive-through windows. Two other buildings are in the plans.
2.17 acres west of the Wal-Mart parking lot
Assessed value: $40,405
Has submitted plans to the city for a master plan review and for a building permit for one building
Table Rock Properties
Owned by the Stokes family
1.8 acres north of the supercenter, at Market Street
Assessed value: $96,050
North Carson Crossing
Owned by George Karadanis and Kent Witt
21-acre parcel and a 2.3-acre parcel
Assessed value: $335,866 and $27,166
Owner of the corner parcel at 822 E. College Parkway
Assessed value: $65,629