2Q15 First Quarter Industrial Market Report

First Quarter 2015
Industrial Market Report

A usual slow start to the year -

Once again, the northern Nevada industrial market took a breather in the first quarter. Historically, Q1 is a slow quarter as companies are just gearing up for annual moves. Decisions to close operations happen quicker than decisions to move and expand sometimes resulting in negative absorption in the first quarter. With few closures and still good market activity, Q1 2015 exhibited stronger numbers than prior year first quarters. Brokers, developers and contractors are all busy and overall market activity remains strong. It appears 2015 will be another banner year for the northern Nevada industrial market.....

To continue reading -  Click Here For Q1 2015 Industrial Market Report  

NAI Alliance Industrial Properties Group Secures Exclusive Listing for 84,000 SF Space at 725 Greg Street

(Reno, NV) – The NAI Alliance Industrial Properties Team of Dave Simonsen, CCIM, SIOR; J. Michael Hoeck, SIOR; Michael Nevis, CCIM, and Steve Kucera, Industrial Specialist has received the exclusive lease listing for 725 Greg Street, Sparks, NV. The 84,000± sf stand-alone manufacturing and distribution warehouse is situated on 3.42 acres, and is one of the largest stand-alone buildings available in the area.

The NAI Alliance Industrial Team will be representing the occupant of the building for the sublease, Sims Corporation based in Sparks, NV. Sims Corporation is part of Sims Metal Management - the world’s largest publicly traded metal and electronics recycler, with more than 270 facilities on five continents.

The property is located in the heart of the Sparks industrial area providing easy access to both Interstate 80 and US Highway 395.

NAI Alliance Industrial Properties Group Announces the Addition of Steve Kucera as Industrial Specialist

(Reno, NV) – The NAI Alliance Industrial Properties Group is pleased to announce that Steve Kucera has joined the Brokerage as an Industrial Specialist. Mr. Kucera will be working with J. Michael Hoeck, SIOR, Dave Simonsen, SIOR, CCIM, and Michael Nevis, CCIM of the NAI Alliance Industrial Team and brings a great deal of experience to the group. Mr. Kucera will be specializing in Industrial Agency and Tenant Representation. 

Mr. Kucera has an extensive nine-year background in commercial real estate, which includes: landlord and tenant representation, high-profile lease transaction negotiation and administration, advisory services for industrial clients, financial management, and property management. Mr. Kucera has previously worked for Prologis, Jones Lang LaSalle, and Cushman & Wakefield. 

Mr. Kucera holds a Bachelor of Science degree in Business Information Systems from The University of Montana.

Dan Oster Represents Joule Street Landlord for Sale or Lease

NAI Alliance is proud to announce that Industrial Brokers Dan Oster, Dave Simonsen, J. Michael Hoeck, and Michael Nevis have obtained the exclusive listing agreement for the industrial flex facility located at 4865 Joule Street in Reno. The building is located on Joule Street just off of Rock Blvd. east of the Reno-Tahoe International Airport. The space available is 6,200± sq. ft. with a bonus mezzanine area and is both for sale and for lease. This space is great for a contractor’s office and has great improvements. For more information contact The Industrial Team at NAI Alliance at 775-336-4600.

Broadbent Associates Lease Space at 5450 Louie Lane in Reno - NAI Represents both Tenant and Landlord

Broadbent & Associates Inc. leased 10,083 square feet of office and warehouse space at 5450 Louie Lane, Suite 101 in Reno, Nevada. In this lease transaction NAI Alliance represented both parties. Scott Shanks, SIOR of the NAI Office Properties Group represented the tenant Broadbent & Associates Inc. and, Dave Simonson, SIOR, CCIM of the Industrial Properties team represented the landlord, J & S Erlach Properties 50, LLC.

NAI Alliance Releases Q1 2013 CRE Industrial Market Report

NAI Alliance is pleased to provide our Q1 2013 Industrial Market Report for commercial real estate in Northern Nevada.  We’re heading in the right direction.  A neutral first quarter in 2013 is much more positive than the past 3 years of negative net absorbtion in prior first quarters.

Starting level heading into Q2 means we have no holes to dig out of.  That alone creates optimism for the market.  Rents have not increased on industrial properties, but we do foresee rent increases for specific property types in the near future.  Corporate earnings, housing, business investment and unemployment are all trending in the right direction helping our economy.

Click here to view the entire report.  Also, if you'd like to sign up to receive our market reports, you can click here.

Michael Nevis & J. Michael Hoeck Secure Lease for Trex

Press Release: Industrial Group
775 336 4600

Trex Company leased a 337,500sf building at 2375 Newlands Rd in Fernley NV. Trex Company is the country's largest manufacturer of wood-alternative decking and railing products, marketed under the brand name Trex®. The company was formed in 1996 through the buyout of a division of Mobil Corporation and went public in 1999. Trex Company is headquartered in Winchester, Virginia, with manufacturing facilities in Fernley, Nevada and Winchester, Virginia. J. Michael Hoeck, SIOR; Michael Nevis, CCIM; Dave Simonsen, CCIM, SIOR; and Dan Oster of the NAI Industrial Properties Team represented the landlord and tenant in this transaction.

Dave Simonsen, CCIM, SIOR Secures Sale of 1500 Marietta Way

Press Release: Industrial Group
775 336 4600

On Command Dog Training purchased a 20,000sf building at 1500 Marietta Way. The buyer will occupy 10,000sf. Dave Simonsen also facilitated a lease of 10,000sf to The Auto Body Shop within the building prior to closing. Dave Simonsen, CCIM, SIOR; J. Michael Hoeck, SIOR; Michael Nevis, CCIM; and Dan Oster of the NAI Industrial Properties Team represented the seller in this transaction. The buyer was represented by Fred Jayet with ReMax.

SIOR Recognizes NAI Alliance Industrial Team for Significant Transactions

Press Release: Industrial Group
775 336 4600

SIOR released the Northern California Chapter’s 3rd quarter significant transactions which highlights the quarter’s deals. NAI Alliance was highlighted twice for deals completed this quarter. Dave Simonsen CCIM, SIOR and Mike Hoeck, SIOR were recognized for a 160,744 sf industrial lease at 1025 Sandhill Road for Sanofi and a 50,000 sf industrial lease at 12995 Echo Avenue for Numark Industries. Dave Simonsen, CCIM, SIOR; J. Michael Hoeck, SIOR; Michael Nevis, CCIM; and Dan Oster are NAI Alliance Industrial Properties’ Team.

Reno Foreign Trade Zone

Reno Tahoe International Airport is vying for a bid to have direct cargo flights from China, which is the world’s second largest economy.  The test flights will begin in December, one flight a day, 6 days a week.    

Legacy Supply Chain Services, which NAI recently completed a long term lease with, said this about getting Reno’s foot in the door. “Shippers want to see two things – they want to see the best price and they want to see the best service.  You must have one of those, or a combination of the two, if you want to break through and have shippers buy in.” – Russ Romine, Vice President of Global Transportation

Reno Tahoe International Airport Authority who has been trying to get Reno’s foot in the door since 2005 is one step closer to their goal.  Air China designated Reno Tahoe International Airport as its diversion airport if the weather in San Francisco was severe.

Reno also would be advantageous for Air China and other Asian cargo flights because of the savings in fuel.  A flight from Shanghai to Reno appose to flying to Los Angeles would save 1,673 gallons of fuel per flight.  That saving would be compounded annually and would add up fast.  Along with the fuel savings Reno also charges less in cargo fees.   

Reno has the ability to reach the 11 Western states with 1 day ground transportation and the city isn’t nearly as congested as Los Angeles or San Francisco.  With Reno’s growing distribution and logistics capabilities it could become an inland port much like Atlanta Georgia.   

These cargo flights could boost the economy here in Reno and we are all excited to see the results of the test flights starting in December. 

To read the entire article from the Reno Gazette Journal please visit this link -  http://www.rgj.com/article/20121111/BIZ03/311110011/China-cargo-deal-could-boost-Reno-Sparks-economy?nclick_check=1

Dan Oster Secures 415 East 4th Street Listing in Reno, Nevada

Press Release: Industrial Group
775 336 4600

The Industrial Team of Dan Oster; Dave Simonsen, CCIM, SIOR; J. Michael Hoeck, SIOR; and Michael Nevis, CCIM of NAI Alliance has entered into an agreement with the owner of 415 East 4th Street to sell or lease their 8,000sf industrial flex building. The building is close to downtown Reno and has a small yard. The building is offered at $60.00psf or $0.45psf NNN. For additional information on this property or a requirement you may have contact The Industrial Team at NAI Alliance 775.336.4600.

Dave Simonsen, SIOR, CCIM Receives National Recognition from ProLogis

Press Release: Industrial Group
775 336 4600

During this year’s fall SIOR conference Dave Simonsen, SIOR, CCIM was highlighted as ProLogis’ featured broker. ProLogis honored Dave because of his ability to complete complex transactions and because Dave filled 600,000SF of industrial space for ProLogis in their Northern Nevada portfolio. Travis Durfee of ProLogis said this about Dave, “In complex deals such as this one [global manufacturing company merging three different operations], Dave has always been a pleasure to work with. He is an excellent broker who shares our focus on customers and is extremely dedicated to his clients. It’s no surprise that even in a challenging market, brokers like Dave continue to produce results.” Dave Simonsen, SIOR, CCIM is Senior Vice President of the Industrial Team at NAI Alliance.

NAI Alliance Office and Industrial Teams Close Lease at Mill@McCarran

Press Release: Office Group
775 336 4600

F & P Construction leased 2,100 square feet at Mill@McCarran located at 1140 Financial Boulevard, Suite 600 in Reno, Nevada. In this transaction the NAI Office Properties Group and the NAI Industrial Group represented both parties, the seller, Hidden Valley Tech Center, LLC and the tenant, F & P Construction.

Michael Nevis, CCIM Secures Lease at 201 Ireland Drive in McCarran Nevada

Press Release: Industrial Group
775 336 4600

PPG Industries, Inc. has leased 187,200sf of space located at 201 Ireland Drive McCarran, NV. PPG is a global supplier of paints, coatings, optical products, specialty materials, chemicals, glass and fiber glass. Michael Nevis, CCIM; J. Michael Hoeck, SIOR; Dave Simonsen, CCIM, SIOR and Dan Oster of the NAI Industrial Properties Team represented the landlord in this transaction.

Panattoni Buys 263,924 SF Class A Industrial Building in Reno, NV

Press Release: Industrial Group
775 336 4600

Panattoni Development Company has purchased a 263,924sf Class A industrial building located at 1025 Sandhill Drive Reno, NV. The original facility of 160,000 square feet was built for Pfizer in 1999 and expanded in 2006. One tenant has signed a 10 year lease for the original 160,000 square feet of space and there are several tenants looking to lease the remaining 103,924 square feet. The building closed escrow on August 20, 2012, and should be 100% leased in the very near term. Panattoni Development Company is a commercial real estate development company specializing in industrial, office and retail projects. The company has the depth, expertise and capacity to quickly respond to the demands of its clients. Panattoni provides users multi-market solutions completing quality projects on time and within budget. Dave Simonsen, CCIM, SIOR; J. Michael Hoeck, SIOR; Michael Nevis, CCIM; and Dan Oster of the NAI Industrial Properties Team represented the tenant in this transaction which facilitated the sale.

NAI Alliance Welcomes Rebecah Wiegardt

Press Release: Industrial Group
775 336 4600

NAI Alliance is pleased to announce that Rebecah Wiegardt has joined the industrial team as a Marketing Specialist. Rebecah comes to NAI Alliance from Miller Industrial Properties where she coordinated all office and marketing operations for the last three years. Rebecah is a great addition to the team and will continue to take marketing forward.

J. Michael Hoeck, SIOR Secures Lease for Monsoon Pacific

Press Release: Industrial Group
775 336 4600

Monsoon Pacific has leased 30,600sf of space located at 845 Spice Island Drive Suite A Sparks, NV. Monsoon Pacific is a custom furniture manufacturer and distributor and is expanding to a new larger facility. J. Michael Hoeck, SIOR; Michael Nevis, CCIM; Dave Simonsen, CCIM, SIOR and Dan Oster of the NAI Industrial Properties Team represented the tenant in this transaction.

J. Michael Hoeck, SIOR Secures Lease for Care Line

Press Release: Industrial Group
775 336 4600

Care Line has leased 27,920sf of space located at 930 Kleppe Lane Sparks, NV. Care Line is a custom packager and manufacturer, making patient care kits, non-sterile surgical kits, custom pillows, as well as selling a wide variety of bulk medical/surgical products. J. Michael Hoeck, SIOR; Michael Nevis, CCIM; Dave Simonsen, CCIM, SIOR and Dan Oster of the NAI Industrial Properties Team represented the landlord and tenant in this transaction.

J. Michael Hoeck, SIOR Secures Lease for Packaging Corp. of America

Press Release: Industrial Group
775 336 4600

Packaging Corporation of America has leased 35,000sf of space located at 4945 Aircenter Circle Suite 101 Reno, NV. Packaging Corporation of America is a leader in helping their customers package, transport and display products of all kinds. J. Michael Hoeck, SIOR; Michael Nevis, CCIM; Dave Simonsen, CCIM, SIOR and Dan Oster of the NAI Industrial Properties Team represented the landlord in this transaction.

Dan Oster Secures Lease for Legacy Supply Chain Services

Press Release: Industrial Group
775 336 4600

Legacy Supply Chain Services has leased 191,207sf of space located at 5360 Capital Court Suite #100 and #103 Reno, NV. Legacy Supply Chain Services is an innovative and leading company providing supply chain management and logistic services. Michael Nevis, CCIM; J. Michael Hoeck, SIOR; Dave Simonsen, CCIM, SIOR and Dan Oster of the NAI Industrial Properties Team represented the tenant in this transaction.