Remaining 20-acre downtown parcel bought

Wednesday, Oct. 13, 2004 | 11:08 a.m.

The World Market Center exercised its final option to buy the remaining 20-acre parcel of Union Pacific Railroad Co. land in downtown Las Vegas.

The first phase of the World Market center, a 1.3 million-square-foot building, is currently under construction on the first 20-acre piece of land purchased a couple of years ago. Last year the group exercised its options to buy 16 acres of land from the Union Pacific Railroad.

The final parcel, bought for more than $17.2 million, brings the total land controlled by the World Market Center to 56 acres, said Donna Alderson, first vice president at CB Richard Ellis, Las Vegas, who represented Union Pacific Railroad in the transaction.

She said the purchase was part of the original arrangement between the Union Pacific Railroad and the World Market Center.

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