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 Announces the Addition of Heather Collins, Business/Marketing Coordinator

(Reno, NV) – The NAI Alliance Industrial Properties Group is pleased to welcome Heather Collins to the Team in the role of Business/Marketing Coordinator.

Heather is a native Nevadan who grew up in Lovelock. She attended the University of Nevada, Reno and Truckee Meadows Community College before leaving the area for Southern California. Heather brings a number of years of real estate experience to the team and maintains her California Real Estate License. Her experience includes property management, commercial real estate contract, leasing and sales, facility touring, marketing, and tenant and owner relations. 

In addition to working in real estate, Heather has a wealth of experience supporting senior-level executives in the entertainment industry with some of the largest studios in the country.

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.

• 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 

 Click here to view the entire market report.

NAI Alliance Retail Group Releases Q4 2013 Market Report

The NAI Alliance Retail Properties Group has released its Q4 2013 Northern Nevada Retail Market Report.  Here are some of the salient points from the report:

• Overall vacancy rates decreased slightly to 17.45%
• Anchor space vacancy is currently at 13.79%
• In-line shops decreased in vacancy to 22.8%
• There were 23 tenants moving into space in Q4 2013 resulting in 74,406 square feet of new leases.
• In 2013, net absorbtion was 117,873 square feet and gross absorbtion was 465,798 square feet. 
• There were 4 significant investment sales in the second half of 2013, including the Sparks Galleria which sold for $26.2 Million.

Please click here to download the entire report.

NAI Alliance Industrial Properties Group Secures Lease Extension and Expansion at the Reno Air Center

(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 the 17,701 square foot 1ease extension and the 3,567 square foot expansion for Legacy Sports International at 4750 Longley Lane, Suite 207 in Reno, NV.

With the expansion Legacy Sports now occupies a total of 26,228 square feet in the Reno Aircenter business park. They also occupy a 4,960 square foot space in the complex. Legacy Sports was founded in Reno in 2005.

The NAI Industrial Properties Team represented the landlord, IndCor Properties, in this transaction. This space is part of the 9.5MM square foot portfolio IndCor operates in Reno.

Legacy Sports International, LLC is an importer and distributor of firearms and shooting accessories. The company provides high quality, reliable and affordable products for shooting and hunting enthusiasts in America and throughout the world providing value through customer service and product development.

Greater Nevada Credit Union Leases Space in Ridgeview Town Center

(Reno, NV) – Greater Nevada Credit Union leased 1,900 square feet in Ridgeview Town Center located at 5150 Mae Anne Avenue, Suite 203 in Reno, Nevada. In this lease transaction the NAI Office Properties Group of Dominic Brunetti, CCIM and Scott Shanks, SIOR represented the tenant, Greater Nevada Credit Union.

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.

NAI Alliance Industrial Team Releases Q4 2013 Market Report

The fourth quarter of 2013 continued the momentum from Q3 for the Industrial Commercial Real Estate market in Northern Nevada. It was a great close of the year as we look towards 2014.

Here are a few quick points. Further details are in the PDF.

• Vacancy rates are below 10% for the first time since Q1 2008 – 9.1%
• A balanced Northern Nevada market is in the 8-10% range
• Gross absorbtion was 89% higher than Q4 2012
• Net absorbtion was 526% higher (not a typo) than Q4 2012 and 768% higher (also not a typo) than the 5 year average.
• There were 41 transactions in the quarter with an average size of 41,000 SF per transaction.
• Only one developer is grading on a 399,000 SF
• Might cause the market to tighten with tenant inability to wait for ground up development.

 All of this means that we’re still on the path to recovery and have viable optimism for 2014.

Click here to download the entire report.

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 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.

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.

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 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 Receives National Recognition at the Society of Industrial and Office Realtors

(Reno, NV) – The NAI Alliance Industrial Properties Group was recognized by Panattoni Development for significant transaction volume at the Society of Industrial and Office Realtors® (SIOR) Fall World Conference in Chicago, IL held October 24-26. 


Among nationwide lease transactions by SIOR professionals for Panattoni, the NAI Alliance Industrial Team ranked second overall with the 337,500 square foot lease to Trex Company at 2375 East Newlands Drive in Fernley, NV. NAI Alliance also brokered the sale of this property, which placed them third nationwide on a square footage basis for a property sale. 


SIOR designees in the NAI Alliance Industrial Properties Group are J.Michael Hoeck, Senior Vice President, Principal and Dave Simonsen, Senior Vice President, Principal. 


SIOR is the leading professional, commercial, and industrial real estate association. Individuals who hold the SIOR designation are top producers in the commercial real estate field and are represented in more than 630 cities in 29 countries around the world. 

SIOR represents today’s most knowledgeable, experienced, and successful commercial real estate brokerage specialists. To achieve the SIOR designation brokers have to complete at least five years of creditable experience in the highly specialized field of industrial real estate; met stringent education requirements; and demonstrated professional ability, competency, ethical conduct, and personal integrity.

Dominic Brunetti, CCIM Closes Office Sale Transaction For Greater Nevada Credit Union

(Dayton, NV) – T & N Dayton LLC, bought an acre portion of 555 U.S. Hwy 50 East, in Dayton, Nevada. The Lyon County’s assessor’s parcel number is APN: 06-022-22. In this sale transaction the NAI Office Properties Group of Dominic Brunetti, CCIM, and Scott Shanks, SIOR represented the seller, Greater Nevada Credit Union. 

Since 2009 the NAI Office Properties Team has successfully represented Greater Nevada Credit Union in all their Northern Nevada leasing and sale requirements.

NAI Alliance Office Team Secures Exclusive Lease Listing for 255 West Peckham Lane

Reno, Nevada – Dominic Brunetti, CCIM, along with his partner Scott Shanks, SIOR have secured the exclusive lease listing for 255 West Peckham Lane in Reno, Nevada. The professional multi‐tenant office building is 6,882 square feet and was built in 1983. The lease rate is $1.50 per square foot. There is currently 1,100 square feet available.

Dominic Brunetti, CCIM Closes Lease Transaction For 3D Keepsake Imaging

(Reno, NV) – 3D Keepsake Imaging, Inc. leased 1,759 square feet in the South Creek Shopping Center located at 65 Foothill Road, Suite 3, Reno, Nevada. In this lease transaction the NAI Office Properties Group of Dominic Brunetti, CCIM and Scott Shanks, SIOR represented the tenant, 3D Keepsake Imaging, Inc.

Scott Shanks, SIOR Closes Lease Renewal Transaction For Prologis Management

(Reno, NV) – Prologis Management LLC renewed their lease at 5190 Neil Road in Reno, Nevada. Prologis Management will now occupy Suite 210 for 2,692 square feet. In this lease transaction the NAI Office Properties Group of Scott Shanks, SIOR and Dominic Brunetti, CCIM represented the tenant, Prologis Management, LLC.

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.

Dominic Brunetti, CCIM Closes Office Sale Transaction

(Reno, NV) – Divine Purpose, LLC purchased an office building located at 255 West Peckham Lane in Reno, Nevada. In the sale transaction the NAI Alliance Office Properties Group of Dominic Brunetti, CCIM, and Scott Shanks, SIOR represented the buyer Divine Purpose, LLC.

NAI Office Team Closes Lease Renewal AT 5050 Vista Boulevard

(Sparks, NV) – Group One Sparks, Inc., dba Keller Williams Group One renewed their lease at 5050 Vista Boulevard, Suite 104 & 105 in Sparks, Nevada for 4,970 square feet. In this lease transaction the NAI Alliance Office Properties Group of Scott Shanks, SIOR and Dominic Brunetti, CCIM, represented the landlord, MLRO, LLC, MLKO, LLC and MLL, LLC.

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.

NAI Alliance Office Team Closes Lease Transaction at 140 Washington Street

(Reno, NV) – Amber Barnes Consulting leased 1,116 square feet at 140 Washington Street, Suite 220 in Reno, Nevada. In this lease transaction the NAI Office Properties Group of Scott Shanks, SIOR and Dominic Brunetti, CCIM represented the landlord, 100 & 140 Washington, LLC.

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.

NAI Alliance Secures Exclusive Sale and Lease Listing for 333 Holcomb Ave.

Scott Shanks SIOR, along with his partner Dominic Brunetti, CCIM have secured the exclusive sale and lease listing for 333 Holcomb Avenue in Reno, Nevada.

The professional office building is 14,017 square feet and was built in 1986. The sale price is $105 per square foot and the lease rate is $1.10 per square foot. There is currently 10,000 square feet available.

Dominic Brunetti Closes Lease Transaction at 50 West Liberty Street

Hoy Chrissinger Kimmel, PC, leased 3,400 square feet of office space at 50 West Liberty Street, Suite 840 in Reno, Nevada. In this lease transaction the NAI Office Properties Group of Dominic Brunetti, CCIM, and Scott Shanks, SIOR, represented the landlord Basin Street Properties. The new tenant moved their Northern Nevada office to the downtown Basin Street property from their prior location on Caughlin Parkway.

NAI Alliance Office Properties Group Closes Lease at 200 South Virginia

High Desert Internet Services leased nearly 500 square feet of office space at 200 South Virginia Street, Suite 555 in Reno, Nevada. In this lease transaction the NAI Office Properties Group of Scott Shanks, SIOR and Dominic Brunetti, CCIM represented the landlord Basin Street Properties. 

High Desert Internet Services provides wireless internet services designed to cover the areas "left out" by DSL coverage and Cable Modem coverage, giving Rural customers the same type of performance enjoyed by those in the cities. High Desert Internet Services has been servicing Northern Nevada since 2002.

Dominic Brunetti, CCIM Closes Lease Renewal for Nevada Connections Academy

Nevada Connections Academy renewed their lease for 6,000 square feet at 175 Salomon Drive, Suite 201 in Sparks, Nevada. In this lease renewal the NAI Office Properties Group of Dominic Brunetti, CCIM, Scott Shanks, SIOR and Chase Whittemore, MS represented the landlord, 175 Salomon Circle LLC.

Nevada Connections Academy (NCA) is a tuition-free virtual public school giving students the flexibility to learn with a curriculum that meets rigorous Nevada State Board of Education standards. Nevada Connections Academy offers: 

• A challenging, K-12 curriculum developed by leading education experts. 
• Instruction from highly-qualified state-certified teachers who are experienced in online instruction. 
• Support from trained counselors, an experienced principal, and dedicated administrative staff. 
• Free textbooks, materials, and computer equipment needed to participate in a dynamic online learning environment.  

NAI Office Team Secures Two Exclusive Listings

Scott Shanks, SIOR and fellow NAI Alliance Office Property Group partners Dominic Brunetti, CCIM, and Chase Whittemore, MS have secured extensions on exclusive lease listings for two properties. NAI Alliance will be representing the owners in both agreements. 

• 980 Sandhill – a 36,00+ square foot building with just over 10,000 square feet available 
• Sparks Plaza located at 780 Vista – a multi-tenant complex with just over 15,000 square feet available

To read the entire releases, visit the NAI Alliance Press Release page.

NAI Alliance Office Properties Group Recently Closes 3 Transactions

The NAI Alliance Office Properties Group of Dominic Brunetti, CCIM, Scott Shanks, SIOR and Chase Whittemore, MS have recently closed three new deals.

• California Broadband Cooperative leased nearly 600 square feet of space at 200 S. Virginia. Chase Whittemore, MS, represented the landlord Basin Street Properties. The California Broadband Cooperative’s Digital 395 Middle Mile project proposes to build a new 553-mile, 10 Gbps middle-mile fiber network that would follow U.S. Route 395 between southern and northern California.
• Dominic Brunetti, SVP/Principal, closed the sale of an office building at 401 Flint Street. Mr. Brunetti represented the buyer in the transaction. The property at 401 Flint Street is 3,716 square feet in two buildings.
• And finally, Immunize Nevada leased 1,600 square feet of office space at 427 Ridge Street. In this transaction, Chase Whittemore, MS, represented both the tenant and the landlord.

To read the entire releases, please visit the NAI Alliance Press Release Page.

Argonaut Gold Expands into Bigger Building

Dominic Brunetti, CCIM Closes Lease Transaction at 9600 Prototype Court in Reno, Nevada
 
Argonaut Gold is growing and expanding into a 4,600 square foot building located at 9600 Prototype Court in Reno, Nevada. Previously they occupied a 3,682 square foot building. In this lease transaction the NAI Office Properties Group of Dominic Brunetti, CCIM, Scott Shanks, SIOR and Chase Whittemore, MS, represented the landlord Liberty Meadows, LLC.

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.

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.

NAI Alliance Releases Q1 2013 Office Market Report

Driven by California’s outrageous Prop 30, which retroactively raised state income taxes on many individuals in the Golden State, growth in the first quarter of 2013 was more than noticeable. New companies like Rogue Gaming continue to enhance our Downtown economy. Call center and data center activity has remained strong throughout the market. Henry Schein stayed in the market signing a new lease for 75,000 square feet, adding to the proof that Reno is a great small market call center location.

Also new, is San Francisco based Bookkeeper Zoo. The mobile bookkeeping startup opened their national service and data center in South Meadows. This continued level of activity will certainly create more momentum for the Reno Tahoe area as regional companies realize they can take advantage of our competitive taxes, real estate prices, and labor pool.

To read the entire NAI Alliance Q1 2013 Office Market Report, click here.

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.

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.

Chase Whittemore Closes Lease Transaction at 9635 Gateway Drive in Reno

Truckee River Flood Management Authority leased 5,234 square feet of office space at 9635 Gateway Drive, Suite A in Reno, Nevada. In this lease transaction the NAI Office Properties Group of Chase Whittemore, MS, Scott Shanks, SIOR and Dominic Brunetti, CCIM represented the landlord L J Capital Investments, LLC.

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.

Northern Nevada Office Property Market Continues To Improve, Optimism Slowly Rising

Many in northern Nevada are starting to feel that most industries are beginning to experience rebounds. The office property market in the area is experiencing the same. Cautious optimism in the office market is prevailing, and there are a number of reasons this is the case.

With asking rents and interest rates remaining low coupled with the quantities of available space on the market, brokers, investors and developers continue to feel that this will only benefit both new, and existing, tenants in the area.

There are some key areas that are experiencing near “back to normal” market trends. The downtown market is a highly sought after environment, as is the Meadowood area. In both of these hot sub-markets, tenants can be expected to pay in the $2.00/sqft range for high-quality Class A space, which is close to where prices were before the recession in the area.

This is due in large part to the demand for .....  Click here to read the entire release  from NAI Alliance.

Chase Whittemore Closes Lease Transaction at McCarran Mansion in Reno

Brian Kelly, Esq. leased office space at McCarran Mansion located at 401 Court Street in Reno, Nevada. In this lease transaction the NAI Office Properties Group of Chase Whittemore, MS, Scott Shanks, SIOR and Dominic Brunetti, CCIM represented the landlord McCarran Mansion LLC.

NAI Alliance Office Team Secures Lease for Greater Nevada Mortgage Services

Greater Nevada Mortgage Services leased 3,950 square feet at 10385 Double R
Boulevard 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 tenant
Greater Nevada Mortgage Services.

Chase Whittemore Closes Lease Transaction at 1005 Terminal Way in Reno

Patrick Campbell leased office space at Executive Plaza Office Company located at 1005 Terminal Way, Suite 257 in Reno, Nevada.  In this lease transaction the NAI Office Properties Group of Chase Whittemore, MS, Scott Shanks, SIOR and Dominic Brunetti, CCIM represented the landlord Executive Plaza Offices Company, LLC.

NAI Alliance Office Represents Landlord in McCarran Mansion Sale, Maintains Exclusive Lease Listing

The NAI Office Properties Group of Dominic Brunetti, CCIM, Scott Shanks, SIOR, and Chase Whittemore, MS represented the seller 401 Court Street, LLC in the sale of the McCarran Mansion located at 401 Court Street in Reno, Nevada. The McCarran Mansion is 7,000 square feet.

Built in 1913 as the Gibbons Mansion, the home was purchased by Nevada lawyer, judge, and politician Pat McCarran in 1921. His law practice thrived in the days of the “Reno Cure” for troublesome marriages. He served in congress from 1933 to 1954. The property passed through other owners in the years following McCarran’s death in 1954. Now restored, it houses offices for a number of professionals and businesses in the area.

In addition to brokering the sale of the Mansion, the NAI Office Properties Group retained the Exclusive Lease Listing from the new owners, McCarran Mansion, LLC.

Todd Landaburu Joins NAI Alliance as Marketing Director

Press Release:
775 336 4600

NAI Alliance Commercial Real Estate is pleased to announce the recent addition of Todd Landaburu to the company. Mr. Landaburu joins NAI in the new role of Marketing Director that will be based in-house at NAI Alliance headquarters. In this role, his responsibilities include cross-functional marketing collaboration within all of the NAI business segments, develop and execute marketing strategy, oversee the use of the Contact Management System for marketing purposes, work with team members on campaign initiatives, reporting of campaign results, oversee public relations activities, and coordinate consistent marketing activities in emerging technologies to key market segments.

Prior to joining NAI Alliance, Mr. Landaburu amassed over 15 years of marketing experience as a Marketing and Development Manager, playing an integral role in strategy development and collaboration, internal and external information dissemination, content development for key market segments, and the coordination of collateral creation according to strategies set-out by worldwide marketing and sales organizations. Mr. Landaburu has experience in lead life-cycle programs, CRM tools, the incorporation of social media to marketing initiatives, and project management for marketing campaigns.

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.

Chase Whittemore Closes Lease at 855 Maestro Drive in Reno NV

Press Release: Office Group
775 336 4600

HMS Business Services, Inc. leased 1,056 square feet at 855 Maestro Drive, Suite A in Reno, Nevada. In this lease transaction the NAI Office Properties Group of Chase Whittemore, MS, Scott Shanks, SIOR and Dominic Brunetti, CCIM represented the landlord Dennis Banks and Art Hinkley, LLC.