WorldStreet To Develop Huge Factory Direct Home Furnishings Shopping Destinations

Furniture World News

Silver Companies, a national real estate development and investment firm, announced WorldStreet, its newest national development initiative, at an official launch event at the Ronald Reagan Building and International Trade Center in Washington, DC. When completed in 2008, WorldStreet’s debut project will be a quarter-mile long, 750,000 sq. ft. destination marketplace drawing from an exceptionally wide trade area, and including tourists and domestic and international visitors. A recent study showed that in addition to the six million people living within an hour’s drive, 81.3 million vehicles pass Celebrate Virginia annually. WorldStreet shoppers will be drawn by the appeal of exceptional value and quality, the lure of an unparalleled selection of goods and the tastes of the world’s most authentic foods. Countries and regions will be represented by branded and indigenous products, along with a showcase of multi-regional culture and cuisine. WorldStreet projects will consist of a dynamic mix of product showrooms, specialty shops and European-style boutiques, along with an array of restaurants, cafes, themed pavilions and “edutainment” and culinary-arts attractions. American-regional and international-authentic products will include fashions and apparel, gifts and accessories, furniture and home furnishings, gem and jewelry, health and beauty, foods and wines, manufactured textiles and handcrafted goods. Presiding over WorldStreet’s announcement were Larry D. Silver, Chairman and Chief Executive Officer, Silver Companies, David Mignatti, President, WorldStreet Development, a division of the Silver Companies. Keynote speaker and special guest, Ben Stein, famed economist, journalist, actor and presidential speech writer lauded the innovation of the WorldStreet project. Silver introduced WorldStreet for the first time to a crowd of more than 500 regional, national and international business and political leaders by stating, “WorldStreet will revolutionize and redefine retail, wholesale and factory direct selling as we know it today.” WorldStreet, the first-of-its-kind commercial project in America, is being introduced at Silver Companies’ Celebrate Virginia, a multi-billion dollar master retail-resort style development located along I-95 in the southern corridor of metropolitan Washington, DC. WorldStreet’s debut project is scheduled to open in 2008. WorldStreet’s global direct marketplace and world products’ showcase will feature unprecedented ownership and selling opportunities. For the first time in the United States in a major indoor shopping venue, WorldStreet’s retail store, wholesale showroom and commercial space is being made available for direct ownership by domestic and international retailers, suppliers, importers/exporters, and product manufacturers. Owners will combine the financial security of their investment and real estate asset value growth with their market penetration and selling opportunities. “WorldStreet is designed and programmed to unleash the power of free trade and global commerce for its participating manufacturers, exporters and retailers,” explained Mignatti. ”WorldStreet is combining the opportunity to own a piece of the American Dream with selling opportunities of global proportions. This first-of-its-kind project in America will enable the owners to gain a competitive advantage in the global supply chain while being located in the epicenter of the United States commercial corridor.” Two international 'first-ever' announcements were made by Mignatti following the unveiling of WorldStreet. The first includes the announcement that WorldStreet and the centuries old Grand Bazaar in Istanbul, Turkey have forged an unprecedented business alliance to promote exporting and trade in the United States exclusively at WorldStreet properties throughout the nation. The Grand Bazaar is internationally recognized as the original crossroads of global trade -- where "East Meets West." Additionally, Dr. Hasan Firat, official Head of the Tradesman Association for the Grand Bazaar, extended WorldStreet an exclusive invitation to present to over one thousand exporting tradesmen and business owners at the Grand Bazaar. While the Grand Bazaar has been host to numerous United States Presidents and International dignitaries throughout its history, the WorldStreet presentation on November 30, 2006, marks a 'first' for an American real estate developer. Mignatti also announced that WorldStreet will be center stage for ten days at the world's largest retail convention, the Canton Fair, hosted in the People's Republic of China. Mignatti, joined by members from WorldStreet Development, are currently in China and will be presenting to a worldwide audience until the Fair concludes on October 25, 2006. Mignatti states, "WorldStreet's revolutionary approach to real estate and retail development has caught fire. As evidenced by our exclusive opportunities in numerous countries, including India, Turkey and China, the innovation and opportunity unique to WorldStreet is being welcomed as a concept whose time has come." Global Direct Selling: WorldStreet offers a powerful new platform for market entry, business incubation and market penetration. Exporters and manufacturers have the opportunity to sell products directly to the enormous U.S. market, while eliminating the middleman, thereby taking control of the supply chain. Together, retailers, importers, exporters and manufacturers will offer direct access to the mass American consumer and an entire global community of buyers. This new concept for “global direct” selling will combine traditional retail with wholesale and direct-from-the-manufacturer selling. Selling Opportunities of Global Proportions Boutique retailers will enjoy selling opportunities of global proportions and increased market share. They will thrive on the high volume of traffic to WorldStreet and Celebrate Virginia, North America’s largest retail resort, with more than 100,000 car trips daily inside the project’s internal roadways. Multiple Channels for Selling and Marketing WorldStreet will also offer an exclusive “multi-channel” marketing and selling platform, consisting of bricks and mortar selling, E-Commerce and T-Commerce, which includes WorldStreet TV!, a proprietary model planned to showcase and sell products to millions of consumers and supply buyers worldwide through broadcast, internet and satellite programming all day, everyday. America’s First Major Enclosed Commercial Retail Condominiums: WorldStreet is the first major enclosed venue in America to offer the opportunity of ownership by purchasing a retail store and/or wholesale showroom. Owners will have the chance to combine the financial security of their investment and real estate asset value growth with their market share protection and retail and selling opportunities. WorldStreet will also feature wholesale distribution facilities, warehousing for fast inventory replenishments, integrated business support services, logistic service providers and state-of-the-art telecommunications. An informal system of matchmaking is in place to provide WorldStreet entrepreneurs introductions to international manufacturers and suppliers. Exceptional shopping experience: WorldStreet projects are being designed, programmed and master-planned for establishing multiple locations in select metropolitan markets across North America and will become major anchor destinations ranging in size from 750,000 sq. ft. to more than 1.5 million sq. ft. About WorldStreet Development Division www.worldstreet.com WorldStreet is the first-of-its-kind commercial marketplace in America and is establishing a powerful new model for retailing and consumer shopping experiences, global direct product showcase and selling; multi-channel sales and marketing initiatives; and commercial condominium ownership and investment. WorldStreet projects are planned for select metropolitan markets across North America and will become major anchor destinations ranging in size from 750,000 sq. ft. to more than 1.5 million sq. ft. About Silver Companies www.silvercompanies.com: Silver Companies is a Metro Washington, D.C.- and Boca Raton, Fl–based master developer of large commercial and residential land tracts and a diversified real estate investment firm. Since 1941, Silver companies has built an impressive private enterprise with commercial development approaching 11 million sq. ft. and residential site development totaling more than 50,000 units. In addition, the company’s private equity division has provided more than $1 billion in capital to builders and developers during the last six years. Silver Companies is led by CEO Larry D. Silver and is backed by teams of division presidents, engineers, contractors, project managers, lending, leasing and acquisitions professionals and nationally-recognized strategic partners. For more information, visit www.silvercompanies.com