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Newspaper Archive of
Pahrump Mirror
Pahrump, Nevada
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July 24, 1997     Pahrump Mirror
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July 24, 1997
 

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k ty m ft 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 ALTERNATIVE STRATEGIES .............. ..... ..... 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