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Business News
Lucky store and Sa00-On to break ground
by Patti Babcock
Gazette Staff
Watch for site development to begin at the corner of
Highway 160 and Basin Road. Doug McGeary, project
manager for World Premier Investments in Santa Ana,
Calif., said work could begin this week. The date for the
"official" ground breaking has not been announced, but
could be as early as next week.
Official or not, when the bulldozers and backhoes
arrive, Pahrumpians will know a new supermarket and
drug store will soon be a reality. The projected completion
date is spring 1998. Lucky supermarket will anchor the
- shopping center. Sav-On will be built on an outparcel pad
vith a drive-through window for the pharmacy. McGeary
said the 140,000 square foot shopping center will also
house the typical, upscale neighborhood retail stores which
might include a restaurant.
There will be a good mix of
retail, merchandise and ser-
vices, he said. McGeary de-
clined to name the addi-
tional retailers as some
leases are still incomplete.
The first phase of the
27.1-acre project will in-
clude 15.75 acres with the
balance in reserve for the
second phase. World Pre-
mier Investments special-
izes in building, owning and
operating shopping centers
anchored by a supermarket.
However, it also does some
residential is industrial con-
struction and are currently
the lead developer on five
enclosed regional malls in
Tokyo, a $4.5 billion project.
Most of the firm's malls are on the West Coast and
Illinois with some in Nevada, New Mexico and Arizona.
This is the second Pahrump project as World Premier
built the Smith's Center in 1994. McGeary said this is not
a "turn-key" project. The company will retain ownership
and will manage the center.
"Pahrump is a thriving community. We expect growth
will continue with an improved Highway 160 bringing Las
Vegas closer while retaining a rural style of living,"
McGeary said. When growth creates a need for Phase Two,
the developers will be ready.
McGeary also had kind words for all the public offi-
cials, state, county and town involved in preparing the way
for the new center. "It was a long process, but the people
involved made it enjoyable."
Smith's merger to benefit customer
by Patti Babcock
Gazette Staff
A stock merger between Smith's Food and Drug and
Fred Meyer Inc. will benefit local consumers by providing
increased buying power, ,-
She!ly Thomas of Smith's
Food and. Drug stores said
during a telephone inter-
view. The nonfood section
could be enhanced, she said,
although there are no spe-
cific plans at this time.
The merger is expected
to be completed in mid-Sep-
tember 1997 when share- •
holders are expected to vote
their approval, Rob Boley said from the Fred Meyer
headquarters in Portland, Ore.
Smith's Food and Drug stores will retain their name as
will the Fred Meyer chain of stores, Boley said. No store
closures are anticipated and less than 1 percent of employ-
ees will lose their jobs. Boley said a few jobs will be
eliminated at the corporate headquarters where operations
may overlap.
Smith's will continue to operate its stores from head-
quarters in Utah and Arizona, while Fred Meyer's opera-
tions will be directed from corporate headquarters in
Portland.
'The merger
is expected to be
compleJed in mid-
September'
Boley said when the merger was proposed to Fred
Meyer, the company saw ways it would strengthen both
businesses. Apparently, the stock market concurred. Both
companies were trading in the low $40 per share when the
merger was announced in
May. Smith's has risen to
$57 per share with Fred
Meyer currently at $55 per
share.
The merger combines a
larger area since the two re-
tailers operated in different
markets. Fred Meyer is a
large retailer with "one stop
,J shops"in six western states
including Washington, Or-
egon, Idaho, Montana, California and Alaska. Boley said,
Fred Meyer is also the fourth largest fine jewelry chain in
the United States, with outlets located inside malls in a
number of states.
Smith's is concentrated in the Southwest with Smith
Food and Drug stores and Price Right Grocery stores in
Nevada, Utah and Arizona.
"The biggest event in the history of Pahrump," was
one description of the opening of Smith's Food and Drug
superstore Nov. 9, 1994. One of the largest crowds ever
assembled in Pahrump stood waiting for the doors of the
town's first supermarket to open.
NOTICE
NYE WILDLIFE MEETING,
PUBLIC INPUT SOLICITED
JULY 29, 1997, 7 P.M.
NYE COMMISSIONERS CHAMBERS
TONOPAH, NV
TOPIC: MULE DEER HUNT
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