Built in 1908, this 10,000 sq. ft. emarkable and historic building is located in the heart of the Las Vegas Plaza of New Mexico. Formally, known as the Parachute Factory, this space is an ideal location with huge profitable possibilities. Has also been recently used by the New Mexico Film industry as a set, storage and centralized location. Plaza History. Las Vegas was established in 1835 after a group of settlers received a land grant from the Mexican government. The town was laid out in the traditional Spanish Colonial style, with a central plaza surrounded by adobe buildings which could serve as fortifications in case of attack. The six trains that stopped there daily in the 1830s opened up yet another era of prosperity, bringing with it both legitimate businesses. Surrounded by nature, Las Vegas has attracted numerous people to this quaint town in the west.