LAS VEGAS (FOX5) -- When Las Vegas Jewelry and Coin Buyers opened on Sunset and Stephanie in 2010, the shopping center was anchored by a Borders Book Store, Toys R Us, and Sports Authority.
“That’s why we picked it,” General Manager Steve Alexander said. “This intersection is the best location for retail in Henderson and its across the street from Galleria at Sunset.”
Alexander remembers when all three anchor stores closed and the impact it had on his business. The 2018 closure of Toys R Us was the most challenging.
“We noticed a depreciable run off,” Alexander said. “We had a 20-percent decline and that lasted for about 3-4 months. But then we got traffic back with a new tenant like Golden Corral.”
A few miles away at Sunset and Sandhill, the former K-mart building which served as a main attraction at Sunset Palace is now a church.
Church LV opened its second location at the property in the Fall. The first location is on Horizon Ridge Parkway.
Analysts have said the rise of e-commerce outlets like Amazon has made it harder for traditional stores to attract customers.
The IHL Group research firm found that just 16 retail companies are responsible for 73 percent of national retail store closings in 2019. For each company closing stores, 5.2 are opening.
The Retail Association of Nevada was not immediately available for comment.