LAS VEGAS – Ashley Furniture has purchased a tract of land near the Ikea store in Las Vegas.
According to the Las Vegas Review-Journal, Ashley Furniture Industries has acquired nearly 20.4 acres just off Sunset Road for roughly $27.4 million. The deal closed on Dec. 29, 2020.
Ashley CEO Todd Wanek confirmed the purchase to Furniture Today. “We purchased the land, and we are constructing a warehouse, an Ashley HomeStore and outlet. It is going to be 400,000 square feet.”
The company purchased most of the site, around 14 acres, from Walker Furniture, paying $18.8 million for that section, according to property records. Walker, a Nevada-based retailer, had acquired the site in 2017 but did not develop it further.
The Review-Journal reported that the company bought the rest of the plot from M.J. Dean Construction, according to property records.
Ashley, which is based in Arcadia, Wis., has 690 stores in the U.S., including six locations in Nevada.