- Q4 absorbtion nearly quadrupled quarter over quarter measures
- Net absorbtion in 2013 was over 5x the 2012 net absorbtion at 202,244 square feet
- Overall vacancy is down to 13.64%
- Quality spaces in Class A buildings are at a premium, resulting in developers planning speculative building projects
- Notable transactions:
- Custom Ink, 50,000 square feet in the Reno Tech Center (100% occupancy)
- LP Insurance, 22,000 square feet at Park Center Tower in Downtown (close to 100% occupancy
Showing posts with label Northern Nevada Relocation. Show all posts
Showing posts with label Northern Nevada Relocation. Show all posts
Monday, January 20, 2014
NAI Alliance Office Properties Group Releases Q4 2013 Market Report
A good end to the year for the Northern Nevada Office
Market. The office market in Northern Nevada continued to improve at a
rate not seen since the start of the recession in Q3 and Q4 2013. Here
are a few of the highlights from the report.
Tuesday, January 7, 2014
Scott Shanks, SIOR Closes Office Sale Transaction
(Reno, NV) – A J Rocket, LLC, purchased 2.056 acres and a building consisting of 11,000 square feet located at 7788 White Fir Street in Reno, Nevada 89523. In the sale transaction the NAI Office Properties Group of Scott Shanks, SIOR and Dominic Brunetti, CCIM represented the seller, F & J Properties LLC.
Wednesday, December 18, 2013
NAI Alliance Industrial Properties Group Closes Sale of 61,000 sf Building in Reno, NV
(Reno, NV) – The NAI Alliance Industrial Properties Group of Dave Simonsen, Senior Vice President, SIOR, CCIM, J. Michael Hoeck, Senior Vice President, SIOR, Michael Nevis, Senior Vice President, CCIM, and Steve Kucera, Industrial Specialist recently completed the sale of the 61,152 square foot manufacturing facility at 400 Western Road in Reno, Nevada.
NAI Alliance Industrial Properties Group represented the previous owner of the building, Hawley Trust, in the transaction. The stand alone facility is situated over 5.0 acres of land.
NAI Alliance’s Dan Oster, Senior Vice President, SIOR represented the new owners of the building, ECO Windows. ECO Windows is relocating to the new, larger facility from their current location in Sparks, NV. Nevada-based ECO Windows is among the most energy efficient window companies in the country, specializing in the custom manufacturing and installation of the highest quality windows and doors available.
ECO Windows focuses on windows and doors that are designed to save energy and reduce costs with optimal noise insulation. For more information visit www.ecowds.com.
NAI Alliance Industrial Properties Group represented the previous owner of the building, Hawley Trust, in the transaction. The stand alone facility is situated over 5.0 acres of land.
NAI Alliance’s Dan Oster, Senior Vice President, SIOR represented the new owners of the building, ECO Windows. ECO Windows is relocating to the new, larger facility from their current location in Sparks, NV. Nevada-based ECO Windows is among the most energy efficient window companies in the country, specializing in the custom manufacturing and installation of the highest quality windows and doors available.
ECO Windows focuses on windows and doors that are designed to save energy and reduce costs with optimal noise insulation. For more information visit www.ecowds.com.
Tuesday, December 17, 2013
NAI Alliance Office Team Secures Exclusive Listing for One East Liberty Street
(Reno, NV) – Scott Shanks SIOR, along with his partner Dominic Brunetti, CCIM have secured the exclusive lease listing for One East Liberty Street in Reno, Reno, NV. The six-story downtown professional
office building is 96,832 square feet. The lease price is $1.65 up to
$1.90 per square foot.
The owners of One East Liberty have renovation plans for the 96,832 square foot building currently in progress. The owners have commenced on a $1.8 Million renovation project to modernize the building over the course of the 6-month project. The $750,000 Phase I ‘Green” renovation started in mid-August and was completed in early-October helping the building achieve 97% energy efficiency.
The in-progress Phase II plans call for lobby expansion, new building finishes, elevator enhancements, and new landscaping that is expected to be completed by December 2013.
With construction beginning in January 2014, Phase III includes an addition of a new 1,800 square foot retail building facing Virginia Street for a coffee and quick food establishment. Phase III will also feature a large landscaped outdoor seating/plaza area for tenants of One East Liberty and other downtown patrons.
The owners of One East Liberty have renovation plans for the 96,832 square foot building currently in progress. The owners have commenced on a $1.8 Million renovation project to modernize the building over the course of the 6-month project. The $750,000 Phase I ‘Green” renovation started in mid-August and was completed in early-October helping the building achieve 97% energy efficiency.
The in-progress Phase II plans call for lobby expansion, new building finishes, elevator enhancements, and new landscaping that is expected to be completed by December 2013.
With construction beginning in January 2014, Phase III includes an addition of a new 1,800 square foot retail building facing Virginia Street for a coffee and quick food establishment. Phase III will also feature a large landscaped outdoor seating/plaza area for tenants of One East Liberty and other downtown patrons.
Wednesday, December 11, 2013
NAI Alliance Industrial Properties Group Secures 60,000 SF Lease in the Reno Aircenter
(Reno, NV) – The NAI Alliance Industrial Properties Group of J. Michael Hoeck, Senior Vice President, SIOR, Dave Simonsen, Senior Vice President, SIOR, CCIM, Michael Nevis, Senior Vice President, CCIM, and Steve Kucera, Industrial Specialist has recently secured a 10-year, 60,000 square foot lease for Winzer Corporation at 4795 Longley Lane in Reno, NV.
The NAI Industrial Properties Team represented the landlord, IndCor Properties, in this transaction. The space is part of the 13MM square foot portfolio IndCor operates in Reno.
Winzer Corporation has been in Northern Nevada since 2004. Winzer opened a regional distribution center in Sparks, NV to expedite services to their west coast franchises and their customers.
The move to a new 60,000 square foot location provides additional space to accommodate their growth. The facility will also feature enhanced automation and fulfillment solutions as well as storefront capabilities.
Founded in 1978, Winzer Corporation provides access to more than 60,000 fasteners, tools and other supplies in its three (3) distribution centers – Reno, NV, Saginaw, MI, and Santa Fe Springs, CA. Texas-based Winzer has grown to be a major, full service distributor to over 35,000 customers in a variety of markets.
The NAI Industrial Properties Team represented the landlord, IndCor Properties, in this transaction. The space is part of the 13MM square foot portfolio IndCor operates in Reno.
Winzer Corporation has been in Northern Nevada since 2004. Winzer opened a regional distribution center in Sparks, NV to expedite services to their west coast franchises and their customers.
The move to a new 60,000 square foot location provides additional space to accommodate their growth. The facility will also feature enhanced automation and fulfillment solutions as well as storefront capabilities.
Founded in 1978, Winzer Corporation provides access to more than 60,000 fasteners, tools and other supplies in its three (3) distribution centers – Reno, NV, Saginaw, MI, and Santa Fe Springs, CA. Texas-based Winzer has grown to be a major, full service distributor to over 35,000 customers in a variety of markets.
Friday, December 6, 2013
NAI Alliance Retail Properties Group Secures Exclusive Agreement for 9 Dunkin' Donuts Stores
(Reno, NV) – Mark Keyzers, Senior Vice President of the NAI Alliance Retail Properties Group recently completed the exclusive lease agreement with Dunkin’ Donuts that will see the development of nine new stores developed throughout Northern Nevada.
NAI Alliance was a broker of record in assisting in the multi-unit store development agreement between Dunkin' Donuts and new franchise group HT2 Franchising. HT2 Franchising is led by entrepreneur and Reno native Nicole Hansen. Ms. Hansen will manage and oversee daily operations of each store.
Dunkin’ Donuts is currently seeking sites for the nine new store locations from existing land and property owners throughout Northern Nevada. With this agreement between HT2 and Dunkin’ Donuts, all franchise opportunities are sold out in Reno.
“We’re extremely proud that Dunkin’ Donuts chose the Northern Nevada market to expand into,” said Mark Keyzers of NAI Alliance. “They had many options in the Western States to expand, but they saw the leadership of HT2 as well as the rebounding of Northern Nevada and determined our area to be a great fit.”
For more information on locations and planning, please contact Mark Keyzers, the exclusive leasing agent, at (775) 336-4663 for details and requirements.
NAI Alliance was a broker of record in assisting in the multi-unit store development agreement between Dunkin' Donuts and new franchise group HT2 Franchising. HT2 Franchising is led by entrepreneur and Reno native Nicole Hansen. Ms. Hansen will manage and oversee daily operations of each store.
Dunkin’ Donuts is currently seeking sites for the nine new store locations from existing land and property owners throughout Northern Nevada. With this agreement between HT2 and Dunkin’ Donuts, all franchise opportunities are sold out in Reno.
“We’re extremely proud that Dunkin’ Donuts chose the Northern Nevada market to expand into,” said Mark Keyzers of NAI Alliance. “They had many options in the Western States to expand, but they saw the leadership of HT2 as well as the rebounding of Northern Nevada and determined our area to be a great fit.”
For more information on locations and planning, please contact Mark Keyzers, the exclusive leasing agent, at (775) 336-4663 for details and requirements.
Monday, December 2, 2013
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.
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.
Tuesday, November 5, 2013
NAI Alliance Office Group Secures Lease for Pacific Business Centers in Downtown Reno
(Reno, NV) - Palo Alto-based Pacific Business Centers (PBC) has
secured a 13,000 square foot lease with One East Liberty, LLC, for their
recently announced expansion into Northern Nevada. This new expansion
will be Pacific Business Centers’ 17th location, and first in Nevada.
The NAI Alliance Office Properties Group, Scott Shanks, Senior Vice President, SIOR, and Dominic Brunetti, Senior Vice President, CCIM, represented the landlord, One East Liberty, LLC in the transaction.
PBC is one of the undisputed market leaders for on-demand office space in Northern California. PBC tends to cater to local businesses such as attorneys, consultants, start-ups, and small to medium size professional firms.
PBC will be occupying the entire 6th floor, 13,000 square feet, of One East Liberty. The signature tenant remains U.S. Bank. Tenant improvements and space renovations on the 6th floor have been completed and the official opening for PBC is November 1st.
PBC had been performing due diligence on the Northern Nevada market for over five (5) years before finally making the decision.
Click here to read the entire press release.
The NAI Alliance Office Properties Group, Scott Shanks, Senior Vice President, SIOR, and Dominic Brunetti, Senior Vice President, CCIM, represented the landlord, One East Liberty, LLC in the transaction.
PBC is one of the undisputed market leaders for on-demand office space in Northern California. PBC tends to cater to local businesses such as attorneys, consultants, start-ups, and small to medium size professional firms.
PBC will be occupying the entire 6th floor, 13,000 square feet, of One East Liberty. The signature tenant remains U.S. Bank. Tenant improvements and space renovations on the 6th floor have been completed and the official opening for PBC is November 1st.
PBC had been performing due diligence on the Northern Nevada market for over five (5) years before finally making the decision.
Click here to read the entire press release.
Wednesday, August 28, 2013
NAI Alliance Industrial Team Represents Tenant - Ardagh Group - in Largest User Transaction Thus Far in 2013
Luxembourg-based Ardagh Group recently secured the
$11.5 Million purchase of property at 900 Waltham Way, McCarran, NV in
the Tahoe Reno Industrial Center. Dave Simonsen, CCIM, SIOR; J. Michael
Hoeck, SIOR; and Michael Nevis, CCIM of the NAI Industrial Properties
Team represented Ardagh Group in this transaction.
The purchase includes the acquisition of an existing 330,000 square foot Class A manufacturing facility and two 18 acre parcels on the east and west side of the building for future expansion. Ardagh Group had looked at 37 facilities in three (3) states before deciding on the new location in Northern Nevada.
The move will bring approximately 140 technical jobs to Northern Nevada throughout the next five years, including 72 jobs within the first six months. In addition to job stimulus for the area, Ardagh will have a total capital investment of close to $80 Million - $20 Million dedicated to building retrofitting and an additional $60 Million for equipment and installation. They’re expecting to produce nearly 3 Million cans per day from the state-of-the-art, advanced manufacturing facility beginning in January 2014.
Ardagh Group is a global leader in glass and metal packaging solutions for most of the world’s leading food, beverage and consumer brands. Ardagh Group generates $5.5 billion in worldwide sales and produces 32 billion containers annually for such customers as Coca-Cola, ConAgra, InBev and Bumble Bee Foods. The company has operations in 25 countries and employs 18,000 people in more than a hundred facilities.
The company’s U.S. metal packaging operations are based in Carnegie, Pa. In addition to the new facility in McCarran, NV, the company has facilities in Bloomsburg, PA, Weirton, WV, Conklin, NY, Terminal Island, CA, and the recently announced expansion in Roanoke, VA.
The purchase includes the acquisition of an existing 330,000 square foot Class A manufacturing facility and two 18 acre parcels on the east and west side of the building for future expansion. Ardagh Group had looked at 37 facilities in three (3) states before deciding on the new location in Northern Nevada.
The move will bring approximately 140 technical jobs to Northern Nevada throughout the next five years, including 72 jobs within the first six months. In addition to job stimulus for the area, Ardagh will have a total capital investment of close to $80 Million - $20 Million dedicated to building retrofitting and an additional $60 Million for equipment and installation. They’re expecting to produce nearly 3 Million cans per day from the state-of-the-art, advanced manufacturing facility beginning in January 2014.
Ardagh Group is a global leader in glass and metal packaging solutions for most of the world’s leading food, beverage and consumer brands. Ardagh Group generates $5.5 billion in worldwide sales and produces 32 billion containers annually for such customers as Coca-Cola, ConAgra, InBev and Bumble Bee Foods. The company has operations in 25 countries and employs 18,000 people in more than a hundred facilities.
The company’s U.S. metal packaging operations are based in Carnegie, Pa. In addition to the new facility in McCarran, NV, the company has facilities in Bloomsburg, PA, Weirton, WV, Conklin, NY, Terminal Island, CA, and the recently announced expansion in Roanoke, VA.
Friday, May 10, 2013
NAI Alliance Q1 2013 Retail Market Report Now Available
The Northern Nevada economic
climate is showing signs of improvement, perhaps indicating that the
retail vacancy rates may have peaked. The current overall vacancy level
in Reno/Sparks declined to 17.99% from the previous quarter of 18.52%
and 18.60% from the previous year.
The anchor space vacancy is currently at 14.88%. In-Line shops have decreased in vacancy from 23.07% last quarter to 22.62% this quarter. Total net absorption for this quarter was 16,779 square feet. The total gross absorption was 117,700 square feet for this quarter.
Click here to read the entire report.
The anchor space vacancy is currently at 14.88%. In-Line shops have decreased in vacancy from 23.07% last quarter to 22.62% this quarter. Total net absorption for this quarter was 16,779 square feet. The total gross absorption was 117,700 square feet for this quarter.
Click here to read the entire report.
Wednesday, April 10, 2013
Zurich American Insurance Leases Office Space at 50 West Liberty Street in Reno, NV
Zurich American Insurance leased 2,535 square feet at 50 West Liberty Street, Suite 920 in Reno, Nevada. In this lease transaction the NAI Office Properties Group of Scott Shanks, SIOR, Dominic Brunetti, CCIM and, Chase Whittemore, MS represented the landlord, Basin Street Properties.
Zurich is relocating to the area. Zurich is a leading multi-line insurance provider with a global network of subsidiaries and offices in over 170 countries.
Zurich is relocating to the area. Zurich is a leading multi-line insurance provider with a global network of subsidiaries and offices in over 170 countries.
Thursday, April 4, 2013
Tenants in the Damonte Ranch Town Center Growing with the Area - by NAI Alliance
(Excerpts of this article were published in the March 25,
2013 edition of Northern Nevada Business Weekly - Mark Keyzers, SVP
Principal of NAI Alliance Retail Property Group contributed to the piece)
The Damonte Ranch Town Center, on the northeast corner of Damonte Ranch Parkway and Steamboat Parkway in Reno, is proud to announce a number of locally owned tenants at the growing retail development. The property is being developed by Lewis Retail Centers, a member of the Lewis Group of Companies, and represented by NAI Alliance of Reno.
A total of six new tenants have opened for business in the development: Mattress Discounters, Mountain America Credit Union, Moana Dental Care, the Damonte Ranch Animal Hospital, Twisted Fork, and Asian Paradise have all recently moved into the development anchored by the Home Depot and RC Willey. Damonte Ranch Town Center features other businesses such as Starbucks, CVS, McDonalds, High Sierra Cycling, Vino 100, and 7-Eleven to name a few.
The development now has over 85% of its completed space occupied, according to Gigi Chisel, Vice President Northern Nevada Development for Lewis Operating Corp. “Despite the challenges of our local economy, we could not be more pleased........" Click here to read the entire article from NAI Alliance.
The Damonte Ranch Town Center, on the northeast corner of Damonte Ranch Parkway and Steamboat Parkway in Reno, is proud to announce a number of locally owned tenants at the growing retail development. The property is being developed by Lewis Retail Centers, a member of the Lewis Group of Companies, and represented by NAI Alliance of Reno.
A total of six new tenants have opened for business in the development: Mattress Discounters, Mountain America Credit Union, Moana Dental Care, the Damonte Ranch Animal Hospital, Twisted Fork, and Asian Paradise have all recently moved into the development anchored by the Home Depot and RC Willey. Damonte Ranch Town Center features other businesses such as Starbucks, CVS, McDonalds, High Sierra Cycling, Vino 100, and 7-Eleven to name a few.
The development now has over 85% of its completed space occupied, according to Gigi Chisel, Vice President Northern Nevada Development for Lewis Operating Corp. “Despite the challenges of our local economy, we could not be more pleased........" Click here to read the entire article from NAI Alliance.
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