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    •  
      CommentAuthorFrenchyFry
    • CommentTimeSep 16th 2011 edited
     permalink
    By Hubble Smith  
    LAS VEGAS REVIEW-JOURNAL  
     
    Posted: Sep. 14, 2011 | 2:00 a.m.  
     
     
    With Fry's Electronics going into bankrupt Boca Fashion Village, maybe shoppers will discover the back side of Boca Park in West Las Vegas.  
     
    The San Jose, Calif.-based electronics retailer paid nearly $4.7 million for the 140,000-square-foot former Great Indoors store at Boca Fashion Village, according to bankruptcy court documents filed in August.  
     
    It will be the second location for Fry's in Las Vegas, joining the store at Town Square shopping center near the Las Vegas Beltway and Interstate 15.  
     
    No opening date has been announced.  
     
    "Certainly, our store development team always keeps their eyes and ears open for opportunities and this seemed like a good location to add a second store," Fry's spokesman Manuel Valerio said Tuesday.  
     
    He said people have shown they're willing to travel some distance to get to Fry's at Town Square, but adding a second store will better serve consumers in west and northwest Las Vegas.  
     
    It takes a "destination" retailer such as Fry's to draw people into Boca Fashion Village, said Kit Graski, senior vice president of Voit Real Estate Services. He put Famous Footwear, Dress Barn and Men's Wearhouse into the first phase of Boca Park.  
     
    "Phase two has been tough to lease up," Graski said. "Everybody wants to face Charleston. They're not as excited to go in there (Boca Fashion Village). Now, putting Fry's in there will change that. They'll draw a lot of traffic back there."  
     
    The 100-acre Boca Park, built by Triple Five Nevada Development, was a huge success when it opened in 1999. Fronting Charleston and Rampart boulevards, it's anchored by a 137,000-square-foot Target Greatland and Vons grocery store. Junior tenants include OfficeMax, Famous Footwear, Dress Barn, Clothestime and Payless Shoe Source.  
     
    The more upscale second phase of the shopping center was going to be separate and distinct from anything else in the area, the developers said.  
     
    "The next phase will have the most exquisite fashion village this city's ever seen," Triple Five executive vice president Stacy Rush told the Las Vegas Review-Journal before it opened in 2003.  
     
    Boca Fashion Village struggled in the recession. People were willing to spend at restaurants such as Kona Grill and Gordon Biersch, but they didn't shop the luxury home furnishings and apparel stores.  
     
    Triple Five Nevada, part of a Canada-based company that built Mall of America in Minnesota, also developed the movie theater-anchored Village Square shopping center at Sahara Avenue and Fort Apache Road, and had bought land in northwest Las Vegas to build the Great Mall of Las Vegas.  
     
    Lenders have since foreclosed on both Village Square and the land for the proposed mall.  
     
    Calls to Triple Five Development were not returned Tuesday.  
     
    Fry's opened its first store in Las Vegas in late 2002 on Las Vegas Boulevard South, near the interchange of the Beltway and Interstate 15. The site was acquired by Turnberry Associates and incorporated into the Town Square shopping center.  
     
    John Restrepo of RCG Economics said Fry's probably wanted to expand its market share in Las Vegas and Great Indoors was one of the few vacant big-box stores in the area.  
     
    "They were much closer to Green Valley and the southwest, so they weren't capturing those folks from Summerlin and the northwest. If they were, they probably wouldn't build a second store," Restrepo said.  
     
    Las Vegas real estate agent Bryan Kyle lives in the master-planned Summerlin community and said he's glad to see Fry's coming to Boca Park.  
     
    "Although we have Best Buy closer to home, my wife often travels to the Fry's on Las Vegas Boulevard because she says they have lower prices and a larger selection," Kyle said. "There have been a few specialties stores in and out of that (Boca Fashion Village) center, but it has seemed pretty busy the last few times we have been there.  
     
    "I think the location is a little funky over there and you can't really see the stores back there from the street. Still, I would bet Fry's will probably do OK over there. REI sporting goods is still there. I would think Tivoli Village might help also."  
     
    Boca Fashion Village has a few new developments in its favor, starting with the $700 million Tivoli Village boutique shopping center that opened earlier this year across Alta Drive. The developer, IDB Group, also purchased a 23-acre vacant lot at Boca Park from City National Bank for $11.8 million. IDB has announced plans to build Las Vegas Renaissance, an enclosed shopping mall.  
     
    Total Wine and Spirits opened its second location in Las Vegas at Boca Fashion Village, and Lee's Discount Liquor came in with its 17th store in the valley.  
     
     
    Picture With Article: http://www.lvrj.com/business/second-shop-may-put-eyes-on-fry-s-129784908.html?ref=908  
     
    ( CHECK OUT THE READER'S COMMENTS AT THE END OF THE ARTICLE )
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