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Brightpoint, Inc purchased 1025 Sandhill Road in Reno, NV for $11,500,000 last week. The Sandhill building is a 263,924 square foot industrial property. This deal makes a positive impact on the Reno/Sparks Industrial market and the largest industrial sale completed in the past 2 years. The Industrial Team of Paul Perkins, CCIM, SIOR; Dave Simonsen, CCIM, SIOR; J. Michael Hoeck, SIOR; and Dan Oster of NAI Alliance represented Pfizer Inc and Jones Lang LaSalle represented Brightpoint, Inc.
Press Release: Retail Group775 336 4600NAI Alliance Retail Division recently completed their market survey of the Reno Sparks Market for the fourth quarter of 2010. Excluding regional malls, their findings show total rentable square footage at 13,059,868 and total vacant square feet at 2,335,630. This gives an overall vacancy rate of 17.88%, line shop vacancy of 21.72% and anchor vacancy of 15.19%. Total net absorption for the fourth quarter was 60,265 square feet and the total gross absorption was 275,491 square feet. Gross absorption for the year was 749,052 square feet and the net absorption came in at 71,817 square feet.
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The NAI Alliance Office Properties Team Scott Shanks, SIOR, Dominic Brunetti, CCIM, and Janna Page have secured the exclusive office property listing for 200 South Virginia Street in downtown Reno, owned and operated by Basin Street Properties.
The property is a total of 118,741 square feet. Currently 21,965 square feet of office space is available for lease.
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Prism – NV, LLC – leased 637 square feet at 100 Washington Street, Lower Level Suite 80 in Reno, Nevada. In this lease transaction the Office Properties Group of Scott Shanks, SIOR, Dominic Brunetti, CCIM and Janna Page represented the tenant Prism – NV, LLC.
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The NAI Alliance Office Properties Team Scott Shanks, SIOR, Dominic Brunetti, CCIM, and Janna Page will be co-listing the former Greater Nevada Credit Union bank located at 911 East Second Street in Carson City, Nevada along with Coldwell Banker Commercial Brokers Andie Wilson, CCIM and Brad Bonkowski, CCIM.
The property consists of 400 to 8,256 square feet available for lease.
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MetLife Bank, National Association renewed their lease for 5,312 square feet at Magnolia Lakeside located at 6151 Lakeside, Suite 1000 in Reno, Nevada. In this lease transaction the Office Properties Group of Scott Shanks, SIOR, Dominic Brunetti, CCIM and Janna Page represented the landlord Method Art Corporation.
775 336 4600
The NAI Alliance Office Properties Team Scott Shanks, SIOR, Dominic Brunetti, CCIM, and Janna Page have renewed their exclusive property listing for the US Bank building located at 1 East Liberty Street in Reno, Nevada. The team will oversee the leasing of 82,858 square feet office space with 30,910 square feet available.