Wal-Mart closes escrow on Storey land

Wal-Mart closed escrow Wednesday on its 140-acre lot in the Tahoe Reno Industrial Center for a 1 million-square-foot distribution center.

Economic development officials anticipate the distribution center could bring more than $50 million annually to the regional economy.

The retail giant planned to build an 890,000-square-foot center, but recently increased the size of the project.

Lance Gilman, co-owner of the Tahoe Reno Industrial Center, said Wal-Mart also has the option of buying 10 adjacent acres for expansion.

Utilities have been extended to the building site. The four-lane USA Parkway will be extended three miles to the Wal-Mart site.

The parkway, which eventually will be 16 miles long, will connect Interstate 80 with Highway 50 to the south at Silver Springs, Gilman said.

A Wal-Mart spokesman said the center will break ground soon, and it will take 15 months to construct. It will serve Wal-Mart stores within a 120-mile radius. It will employ 500, which will gradually increase to 700. Hiring of area residents is expected to begin in 2006.

n Contact reporter Becky Bosshart at bbosshart@nevadaappeal.com or 881-1212.