New Retail Listing in Carson City, NV

Press Release: Retail Group

775 336 4600

NAI Alliance is proud to announce that broker Mark Keyzers of the retail division obtained a new listing agreement with Eden Managements. Keyzers will be representing the owner on leasing 3,500± square feet located at 3965 S. Carson Street in the Southgate Shopping Center in Carson City, Nevada. For more information please contact Mark Keyzers of NAI Alliance at 775-336-4600.

Mark Keyzers Negotiates 3,280 SF in Aspen Glen Shopping Center

Press Release: Retail Group

775 336 4600

NAI Alliance broker Mark Keyzers of the Retail division represented the Landlord, Roeding-Mitchell Tronis Family Properties, L.P., in the leasing of 3,280 square feet to Essenza Salon & Spa in the Aspen Glen Shopping Center. Aspen Glen is located at the north-west corner of Vista Boulevard and Los Altos Parkway in Sparks, Nevada. Essenza will be located at 5255 Vista Boulevard, Suite C-1.

NAI Alliance Now Listing 2.00 Acres of Land on No. Hills Blvd.

Press Release: Land Group

775 336 4600

NAI Alliance announced today that Commercial Broker Aaron West-Guillen has obtained a listing agreement with Prinsbank of Minnesota, to market 2.00 acres for sale in Reno, NV. This property is being offered at a rate of $5.00 PSF and is zoned AC for commercial use. This vacant land opportunity is located on North Hills Blvd., with US 395 visibility. It is well located, adjacent to commercial/retail, in the vibrant North Valley’s submarket. This property has approximately 250 feet of road frontage. For more information on this opportunity please contact Aaron West-Guillen of NAI Alliance at 775-336-4674.

Office Team Closes Deal for New Goddard School in Somersett

Press Release: Office Group

775 336 4600

Cross Consulting Services, Inc. dba The Goddard School has entered into contract to open a new 8,161 square foot build-to-suit early childhood learning center with developer and contractor W.E. Banaszak General Contracting and Development, LLC. The new Goddard School will be located at 455 Somersett Parkway, next to Reno Fire Department Station #11. The NAI Alliance office team of Scott Shanks, Dominic Brunetti, and Matt Grimes represented the Tenant, The Goddard School. The new School, which is designed to accommodate approximately 130 children, is projected to open in 2010 and will offer flexible schedules for children Monday through Friday, from 7:00 a.m. to 6:00 p.m. To learn more, visit The Goddard School on the Web at http://www.goddardschool.com/ or call 1-800-GODDARD.

NAI Alliance Office Team Closes Deals

Press Release: Office Group

775 336 4600

Leading Edge Products, Inc. subleased 1,800 square feet at 770 Smithridge Drive, Suite 650, Reno, NV 89502. The NAI Alliance office team of Scott Shanks, Dominic Brunetti, and Matt Grimes represented the sublessor, Northern Nevada Business Weekly. The NAI Alliance industrial team represented the sublessee, Leading Edge Products, Inc.

G.I.S. Land Services leased 1,202 square feet at 241 Ridge Street, Suite 250, Reno, NV 89501. The NAI Alliance office team of Scott Shanks, Dominic Brunetti, and Matt Grimes represented the tenant, G.I.S. Land Services.

Industrial Team Closes More Deals

Press Release: Industrial Group

775 336 4600

Culligan Water Systems of Western Nevada, Inc., water treatment specialists since 1936 have renewed their lease of 5,000 square feet at 50 East Greg Street, Suite 106 in Sparks, Nevada. The NAI Alliance industrial team represented Culligan in the transaction. The building is owned by the developer Trainor and Associates.

Crown Property Care leased 8,995 square feet at 1480 Linda Way, Sparks, NV 89431. The NAI Alliance industrial team represented both the tenant, Crown Property Care and Landlord, Servais Nevada Properties, LLC.

Barnes and Noble, Inc. renewed their lease of 600,000 square feet at 12660 Old Virginia Road. The NAI Alliance Industrial Team represented the Tenant, and the Landlord, ProLogis represented themselves.

Hood EIC, LLC leased 5,120 square feet at 270A Coney Island Drive, Sparks, NV 89431. The NAI Alliance industrial team represented the Landlord, Truckee Meadows Business Park, LLC.

The NAI Alliance Industrial Team includes Senior Vice Presidents Paul Perkins, CCIM, SIOR; Dave Simonsen, CCIM, SIOR; J. Michael Hoeck, SIOR; Vice President Dan Oster and Associate Carl Zmaila.

Industrial Team Closes Deals

Press Release: Industrial Group

775 336 4600

RanPak Corporation expanded their space by 5,200 square feet and renewed their lease of 37,048 square feet at 9175 Moya Blvd., Reno, NV 89506. The NAI Alliance Industrial Team represented the Landlord, Imelda Reno, LLC.

ABM Industries renewed their lease of 2,400 square feet at 871 E. Glendale Ave, Sparks, NV 89431. The NAI Alliance Industrial Team represented the Landlord, Bayside Capital Co..

Victory City Church renewed their lease of 10,500 square feet at 831 E. Glendale Ave, Sparks, NV 89431. The NAI Alliance Industrial Team represented the Landlord, Bayside Capital Co.

Modco, Inc. renewed their lease of 8,055 square feet at 806 Packer Way, Sparks, NV 89431. The NAI Alliance Industrial Team represented the Landlord, Bayside Capital Co..

PSI Control Systems expanded their space by 3,632 square feet and renewed their lease of 6,599 square feet at 1150 Financial Blvd., Suite 100, Reno, NV 89502. The NAI Alliance Industrial Team represented the Landlord, Reno Investors, LLC.

The NAI Alliance Industrial Team includes Senior Vice Presidents Paul Perkins, CCIM, SIOR; Dave Simonsen, CCIM, SIOR; J. Michael Hoeck, SIOR; Vice President Dan Oster and Associate Carl Zmaila.

NAI Alliance Obtains Land Listing in Fernley NV

Press Release: Retail Group

775 336 4600

NAI Alliance is proud to announce that brokers Kelly Bland of the retail division and Aaron West-Guillen of the land division obtained a new listing agreement with MKM Properties, LLC. They will be representing the owner on selling 3.89 acres in Fernley, Nevada located along Highway 50. For more information please contact Kelly Bland or Aaron West-Guillen of NAI Alliance at 775-336-4600.

NAI Now Listing Available Space For US Bank

Press Release: Retail Group

775 336 4600

NAI Alliance is proud to announce that broker Mark Keyzers of the Retail division obtained two new listing agreements with US Bank. Keyzers will be representing them on leasing 1,308 ± square feet at 1080 North Hills Boulevard in Reno and 1,827 ± square feet at 142 Los Altos Parkway in Sparks, Nevada. For more information on either of these listings please contact Mark Keyzers of NAI Alliance at 775-336-4600.

NAI Alliance Announces Retail Q2 2009 Statistics

Press Release: Retail Group

775 336 4600

NAI Alliance Retail Division recently completed their market survey of the Reno Sparks Market for the second quarter of 2009. Excluding regional malls, their findings show total rentable square footage at 12,653,568 and total vacant square feet at 1,979,438. This gives an overall vacancy rate of 15.64%, line shop vacancy of 19.63% and anchor vacancy of 12.79%. Vacancies continue to increase since last quarter causing the highest overall and anchor vacancy rates since NAI Alliance began tracking market statistics in 1990. Line shop vacancy also continues to rise but has not yet reached the recorded high of 20.3%. Total net absorption for the quarter was 42,119 square feet and the total gross absorption was 204,636 square feet. This gross absorption was largely attributable to the opening of the latest phase of the Legends at the Sparks Marina which comprised approximately 134,180 square feet.

NAI Alliance Obtains Two Basin Street Property Listings

Press Release: Office Group

775 336 4600

NAI Alliance is proud to announce that the NAI Alliance office team of Scott Shanks, Dominic Brunetti and Matt Grimes has obtained a listing agreement with Basin Street Properties to lease 50 West Liberty Street and 300 East 2nd Street. The office team will oversee the leasing of both office buildings totaling approximately 385,846 square feet.

The owner, Basin Street Properties, is recognized as one of the top commercial real estate developers with a portfolio consisting of office, industrial and mixed-use property. With offices in Reno, Nevada and Petaluma and Sacramento, California, Basin Street offers a broad range of real estate services to the Northern California Bay Area and Nevada. Their services include development, property management, construction management, financial and asset management and property acquisition and disposition. All of Basin Street’s properties are developed and managed by an experienced team of professionals; who place a strong emphasis on tenant relations and possess an extensive knowledge of the real estate industry and understand regional market conditions.

50 West Liberty is Reno’s premier business center, consisting of two office and retail towers totaling 248,000 square feet. It is located on the corner of S. Virginia and W. Liberty in the heart of downtown Reno. 50 West Liberty has secured covered parking, spectacular mountain views, two restaurants, a bank and many other amenities.

300 E. 2nd Street consists of 135,000 square feet of office space, 12,000 square feet of retail space as well as 11 floors of parking. 300 E. 2nd is directly across from the new AAA Baseball Stadium, right along the Truckee River. It has amazing views of the mountains, downtown Reno and the baseball stadium.For more information on these two buildings please contact the office team of NAI Alliance at 775-336-4600.

NAI Alliance Industrial Team Closes Deals

Press Release: Industrial Group

775 336 4600

Eiko, Ltd. renewed their lease of 28,000 square feet at 1485 Southern Way, Sparks, NV 89431. The NAI Alliance Industrial Team represented the Landlord, NBS Real Estate Capital.

Battle Born CrossFit, LLC leased 6,615 square feet at 1335 Airmotive Way, Reno, NV 89595. The NAI Alliance Industrial Team represented the Landlord, Shoal Creek.

Burrows Paper Corporation leased 97,500 square feet at 6650 Echo Ave., Reno, NV 89506. The NAI Alliance Industrial Team represented the Landlord, Panattoni Development.

Innovative Communication Systems, LLC leased 2,777 square feet at 5470 Louie Lane, Suite 104, Reno, NV 89511. The NAI Alliance Industrial Team represented the Landlord, J & S Properties.

B & G Beauty leased 4,480 square feet at 5460 Louie Lane, Suite A, Reno, NV 89511. The NAI Alliance industrial team represented the Tenant, B&G Beauty and the Landlord, Blumeco Properties, LLC.

The NAI Alliance Industrial Team includes Senior Vice Presidents Paul Perkins, CCIM, SIOR; Dave Simonsen, CCIM, SIOR; J. Michael Hoeck, SIOR; Vice President Dan Oster and Associate Carl Zmaila.

CVS/Pharmacy Opening Soon at Damonte Ranch Town Center

Press Release: Retail Group

775 336 4600

Lewis Retail Centers and NAI Alliance announced today that CVS/pharmacy, America’s largest retail pharmacy, is the newest retailer to join Damonte Ranch Town Center. The Damonte Ranch store is projected to open in September. The CVS/pharmacy store will offer a wide selection of prescription medications as well as popular beauty, health and personal care brands. In addition, the store will feature a 24 hour drive thru prescription window for the convenience of its customers.

Damonte Ranch Town Center is located at the corner of Damonte Ranch and Steamboat Parkways in Reno, NV. The popular 539,000 square foot community shopping center is already home to RC Willey, Home Depot, Office Depot, Colonial Bank, Bully’s Sports Bar & Grill, the Truckee Meadow’s only Lamppost Pizza and Carvel Ice Cream, Starbucks, Subway, McDonald’s, Mattress World, and others. In addition, 7-Eleven has started construction on a new convenience store and fuel station that is expected to open late this summer.

”We’re very excited that CVS/pharmacy is coming to Damonte Ranch Town Center. The convenience of a full service drugstore including drive thru pharmacy is a welcome addition to the area” said Gigi Chisel, Vice President at Lewis Operating Corp., a member of the Lewis Group of Companies.

“We’re pleased to have a quality tenant like CVS/pharmacy to provide a much needed service to the neighborhood. It’s validation from yet another national tenant that this is the location where retailers need to be,” said Kelly Bland, Senior Vice President at NAI Alliance. NAI Alliance is working with Lewis Retail Centers to secure tenants for the remainder of the development.

The Damonte Ranch Town Center is one of a long list of successful shopping centers developed by Lewis Retail Centers, a member of the Lewis Group of Companies. Founded in 1955, the Upland California-based Lewis Group of Companies is one of the nation’s largest privately held real estate organizations engaged in the acquisition, ownership, development, and management of residential and commercial real estate throughout California and Nevada. The Lewis Group of Companies has developed more than fourteen million square feet of retail, office, and industrial space, and more than sixty-six thousand homes and apartments.

For more information on Damonte Ranch Town Center or for leasing opportunities, call Kelly Bland, Mark Keyzers or Gary Johnson at NAI Alliance, (775) 336-4600.

Jolt N Java Leases 1,603 SF in Aspen Glen Shopping Center

Press Release: Retail Group

775 336 4600

NAI Alliance broker Mark Keyzers of the Retail division represented the Landlord, Roeding-Mitchell Tronis Family Properties, L.P., in the leasing of 1,603 square feet to Jolt-N-Java in the Aspen Glen Shopping Center. Aspen Glen is located at the north-west corner of Vista Boulevard and Los Altos Parkway in Sparks, Nevada. Jolt-n-Java will be located at 5255 Vista Boulevard, Suite C-2.

NAI Alliance Office Team Closes Deals

Press Release: Office Group

775 336 4600

Streamline Media, Inc. leased 1,522 square feet at 9490 Gateway Drive, Suite 104, Reno, NV 89521. The NAI Alliance office team of Scott Shanks, Dominic Brunetti, and Matt Grimes represented the Landlord, Method Art Corporation.

Larsen Properties, Inc. leased 1,000 square feet at 2351 Pyramid Way, Suite 19, Sparks, NV 89431. The NAI Alliance office team of Scott Shanks, Dominic Brunetti, and Matt Grimes represented the Landlord, Pyramid Center, LLC.

Eliot Management Group, LLC leased 1,454 square feet at 6995 Sierra Center Parkway, Suite 101 Reno, NV 89511. The NAI Alliance office team of Scott Shanks, Dominic Brunetti, and Matt Grimes represented the Landlord, Equilibrium, LLC.

Nathan Almlie Insurance Agency, Inc. renewed their lease of 1,300 square feet at 2351 Pyramid Way, Suite 24, Sparks, NV 89431. The NAI Alliance office team of Scott Shanks, Dominic Brunetti, and Matt Grimes represented the Landlord, Pyramid Center, LLC.

Spanish Springs Family Dental renewed their lease of 2,013 square feet at 5050 Vista Blvd., Suite 107, Sparks, NV 89436. The NAI Alliance office team of Scott Shanks, Dominic Brunetti, and Matt Grimes represented the Landlord, Melvin W. and Lena M. Oneto Trust.

The Wackenhut Corporation leased 1,582 square feet at 1575 Delucchi Lane, Suite 116, Reno, NV 89502. The NAI Alliance office team of Scott Shanks, Dominic Brunetti, and Matt Grimes represented the tenant, The Wackenhut Corporation.

Ticor Title of Nevada, Inc. renewed their lease of 3,282 square feet at 3655 Lakeside Drive, Suite 100, Reno, NV 89509. The NAI Alliance office team of Scott Shanks, Dominic Brunetti, and Matt Grimes represented the tenant, Ticor Title of Nevada, Inc.

UPS Store Leases 1,273 SF in Aspen Glen Shopping Center

Press Release: Retail Group

775 336 4600

NAI Alliance broker Mark Keyzers of the Retail division represented the Landlord, Roeding-Mitchell Tronis Family Properties, L.P., in the leasing of 1,273 square feet to The UPS Store in the Aspen Glen Shopping Center. Aspen Glen is located at the north-west corner of Vista Boulevard and Los Altos Parkway in Sparks, Nevada. The UPS Store will be located at 5245 Vista Boulevard, Suite A.

The Ole Bridge Pub Leases 1,245 SF In The Palladio

Press Release: Retail Group

775 336 4600

NAI Alliance brokers Mark Keyzers and Kelly Bland of the Retail division represented the Landlord, Palladio, LLC, in the leasing of 1,245 square feet to the Ole Bridge Pub in the Palladio. “The opening of this business illustrates how established operators are utilizing the advantages of this exceptional downtown riverfront location and amenities,” said Mark Keyzers, Vice President at NAI Alliance. The Palladio is a great new upscale project that includes a mix of high-end condo units, office space and retail. It is centrally located within walking distance of court houses, city offices and legal district offices. The Palladio is situated along the Truckee River at the south-east corner of First Street & Sierra Street in Reno, Nevada. For more information on the Palladio or for leasing opportunities, call Mark Keyzers or Kelly Bland at NAI Alliance, (775) 336-4600.

Industrial Team Members Attend 2009 SIOR Spring World Conference

Press Release: Industrial Group

775 336 4600

Paul Perkins, Dave Simonsen and J. Michael Hoeck of The Industrial Team at NAI Alliance attended the 2009 Society of Industrial & Office Realtors Spring World Conference in San Diego, CA. This conference attracts SIORs from around the world including China, Canada, India, Ireland, Germany and the United Kingdom. SIOR designees are universally recognized for their excellence in commercial real estate practices.

7-Eleven Breaks Ground at Damonte Ranch Town Center

Press Release: Retail Group

775 336 4600

Lewis Retail Centers and NAI Alliance are proud to announce that 7-Eleven convenient store and fuel station has broken ground at Damonte Ranch Town Center in South Reno. 7-Eleven is joining the already great mix of retailers such as RC Willey, Home Depot, Colonial Bank, Office Depot, Bully’s, the Truckee Meadow’s only Lamppost Pizza and Carvel Ice Cream, McDonalds, Starbucks, Subway, Mattress World, and others. The 539,000 sq. ft. community shopping center is located at the corner of Damonte Ranch and Steamboat Parkways. The center captures the vision behind the Damonte Ranch community plan by situating retail shopping in a convenient location for residents of the surrounding area.

“The addition of 7-Eleven’s new store and fuel station at Damonte Ranch Town Center will provide a much needed and highly anticipated service for the residents of Damonte Ranch and Double Diamond. In addition it further solidifies the continued emergence and growth of the shopping center to better serve area customers,” said Mark Keyzers, Vice President at NAI Alliance. NAI Alliance is working with Lewis Retail Centers to secure tenants for the remainder of the development.

The Damonte Ranch Town Center is the latest addition to a long list of successful shopping centers developed by Lewis Retail Centers, a member of the Lewis Group of Companies. Founded in 1955, the Upland California-based Lewis Group of Companies is one of the nation’s largest privately held real estate organizations engaged in the acquisition, ownership, development, and management of residential and commercial real estate throughout California and Nevada. The Lewis Group of Companies has developed more than fourteen million square feet of retail, office, and industrial space, and more than sixty-six thousand homes and apartments.

For more information on Damonte Ranch Town Center or for leasing opportunities, call Gary Johnson, Kelly Bland or Mark Keyzers at NAI Alliance, (775) 336-4600.

J. Michael Hoeck, SIOR Named Industrial Broker of the Year

Press Release: Industrial Group

775 336 4600

J. Michael Hoeck, SIOR of the NAI Alliance Industrial Team was named “2008 Industrial Broker of the Year” at the 4th Annual Summit Awards. Hoeck is a three time recipient of this award, which he also won in 2005 & 2006. The Summit Awards are hosted by Commercial Real Estate Women (CREW), National Association of Industrial and Office Professionals (NAIOP), & Certified Commercial Investment Members (CCIM) to recognize northern Nevada professionals who have excelled in their respective fields of commercial real estate.

Damonte Ranch Town Center Ground Lease to CVS Pharmacy

Press Release: Retail Group

775 336 4600

NAI Alliance broker Mark Keyzers and Kelly Bland of the Retail division represented LN Damonte Ranch Town Center, LLC in the ground lease to CVS Pharmacy. The 78,730 square foot ground lease is for 25 years. Damonte Ranch Town Center is located along Steamboat Parkway and Damonte Ranch Town Center in Reno, Nevada. CVS Pharmacy will be joining other major tenants in the shopping center such as Home Depot, RC Willey, Office Depot, Colonial Bank, Bully’s and McDonalds. For more information please contact Mark Keyzers or Kelly Bland at 775-336-4600.

Now Listing Fernley Land Near Desert Lakes Golf Course

Press Release: Land Group

775 336 4600

NAI Alliance announced today that Commercial Brokers Aaron West-Guillen and Ryan C. Judson have obtained a listing agreement with Lonnell G. Buck Trust to market a vacant land parcel located in Fernley, NV. Property is zoned Industrial, with 9.7 acres available made up of two 4.85 acre parcels. The property has road frontage along the north end of Hwy 50 on Vrhel Court, across from the Desert Lakes Golf Course. The asking price for the total 9.7 acres is $1,500,000. For more information on this opportunity please contact Aaron West-Guillen or Ryan C. Judson of NAI Alliance at 775-336-4674..

Office Team Closes Deals

Press Release: Office Group

775 336 4600

Business Travel Center renewed their lease of 1,680 square feet at 390 East Moana Lane, Suite 1, Reno, NV 89502. The NAI Alliance office team of Scott Shanks, Dominic Brunetti, and Matt Grimes represented the Landlord, Independence Square SPE, LLC.
Tahoe Fixed Income, LLC leased 3,326 square feet at 6900 South McCarran Blvd., Suite 3000, Reno, NV 89509. The NAI Alliance office team of Scott Shanks, Dominic Brunetti, and Matt Grimes represented the Tenant, Tahoe Fixed Income, LLC.

Associated Mortgage Center, Inc. renewed their lease of 1,200 square feet at 294 East Moana Lane, Suite 25, Reno, NV 89502. The NAI Alliance office team of Scott Shanks, Dominic Brunetti, and Matt Grimes represented the Landlord, Independence Square SPE, LLC.

Medical Office Building Sold in Carson City NV

Press Release: Investment Group & Office Group

775 336 4600

The Office and Investment Teams of NAI Alliance are pleased to announce that on behalf of the Eagle Medical Center, LLC, they have successfully facilitated the sale of a 73,975 square foot medical office building located at 2874 Carson Street in Carson City, Nevada. Eagle Medical Center is considered one of the premier medical office buildings in all of Northern Nevada. The property received considerable investor interest from around the country. The buyer is an affiliate of Laub Realty based out of the Bronx, New York. The buyer was attracted to the investment by the strong mix of medical practices located in the building and their willingness to continue to lease space in the property on a long-term basis. The quality of the asset, the strong tenant mix, and the building’s proximity to a major regional hospital were all factors in the sale. “We like the fundamentals of medical office projects and in our mind, this building represents the finest medical office building in the entire market,” said Michael Laub, President of Laub Realty. “Long-term, we think Northern Nevada will benefit from the influx of people drawn to the high quality of life in the area.” The sale and leaseback was facilitated by Dominic Brunetti and Scott Shanks of the NAI Alliance Office Team and Scott Beggs of the NAI Alliance Investment Team.

Industrial Team Closes BriteVision Media's Renewal

Press Release: Industrial Group

775 336 4600

BriteVision Media, LLC renewed their lease of 55,000 square feet at 550 Coney Island Drive in Sparks, with ProLogis. The NAI Alliance Industrial Team of Paul Perkins, Dave Simonsen, J. Michael Hoeck, Dan Oster and Carl Zmaila represented the Tenant, BriteVision Media.

Maverick Finance Leases 1,280 SF in Marina Marketplace

Press Release: Retail Group

775 336 4600

NAI Alliance broker Mark Keyzers of the Retail division represented ESM Marina, LLC in the leasing of 1,280 square feet to Maverick Finance in the Marina Marketplace Shopping Center. Marina Marketplace is located at the south-west corner of Prater Way and Sparks Boulevard in Sparks, Nevada. Maverick Finance will be located at 1495 East Prater Way, Suite 107.

Q1 2009 Retail Statistics

Press Release: Retail Group

775 336 4600

NAI Alliance Retail Division recently completed their market survey of the Reno Sparks Market for the first quarter of 2009. Excluding regional malls, their findings show total rentable square footage at 12,497,873 and total vacant square feet at 1,836,132. This gives an overall vacancy rate of 14.69%, line shop vacancy of 18.52% and anchor vacancy of 12.00%. Vacancies continue to increase since last quarter causing the highest overall and anchor vacancy rates since they began tracking market statistics in 1990. Line shop vacancy also continues to rise but has not yet reached the recorded high of 20.3%. Total net absorption for the quarter was -84,929 square feet and the total gross absorption was 123,354 square feet.

Land Team Now Listing Residential Subdivision in Fernely NV

Press Release: Land Group

775 336 4600

NAI Alliance announced today that Commercial Brokers Aaron West-Guillen and Ryan C. Judson have obtained a listing agreement with Creekwood Capital LLC, to market for sale “Farm View Estates”, a residential subdivision. Farm View Estates is located off of Farm District Road in Fernley NV. The subdivision consists of 23 finished lots with dedicated water. The average lot size is approximately .29 acres. Asking price for the property is $1,600,000.
For more information on this opportunity please contact Aaron West-Guillen or Ryan Judson of NAI Alliance at 775-336-4674.

NAI Alliance Lists 48+ Acres in Northwest Reno NV

Press Release: Land Group

775 336 4600

NAI Alliance announced today that Commercial Brokers Aaron West-Guillen and Kelly Bland have obtained a listing agreement with Flying J Inc. to market a vacant land parcel located in West Reno. The 48.8 acre parcel is located on the south end of I-80 & Robb Drive with freeway adjacency and excellent visibility. This property is ideally situated at the gateway of the Northwest, McQueen and Somersett Communities. The asking price for this property is $21,000,000. For more information on this opportunity please contact Aaron West-Guillen or Kelly Bland of NAI Alliance at 775-336-4600.

Northtowne Smog Leases 1,000 SF in North McCarran Crossing Shopping Center

Press Release: Retail Group

775 336 4600

NAI Alliance broker Mark Keyzers of the Retail division represented North McCarran Crossing, LLC in the leasing of 1,000 square feet to Northtowne Smog in the North McCarran Crossing Shopping Center. North McCarran Crossing is located at the south-east corner of North McCarran Boulevard and Northtowne Lane in Reno, Nevada. Northtowne Smog will be located at 2880 Northtowne Lane, Suite #101.

Office Team Closes Miller Heiman Renewal

Press Release: Office Group

775 336 4600

Miller Heiman, Inc. renewed their lease of 11,500 square feet at 10509 Professional Circle, Suite 100, Reno, NV 89521, with Northern Nevada Corporate Center, LLC. The NAI Alliance office team of Scott Shanks, Dominic Brunetti, and Matt Grimes represented the Tenant, Miller Heiman, Inc.

Land Team Lists Residential Land For Sale

Press Release: Land Group

775 336 4600

NAI Alliance announced today that Commercial Brokers Aaron West-Guillen and Ryan C. Judson have obtained a listing agreement with Ladera Ranch 390 LLC, to market a Residential Land Sale. The Ladera Ranch Residential Subdivision is located in the North Valleys of Reno and consists of 356 homesites with approximately 375 total acres available for sale. The asking price for this property is $6,150,000. For more information on this opportunity please contact Aaron West-Guillen or Ryan Judson of NAI Alliance at 775-336-4674.

Bank-Owned Parcel Just Listed in West Reno, NV

Press Release: Land Group & Industrial Group

775 336 4600

The Industrial and Land Teams of NAI Alliance announced today that Sun West Bank has entered into an exclusive listing agreement to sell a 2.82 acre parcel, with 4 structures and a paved lot, on Dickerson Road in west Reno. The bank-owned property is being offered at $950,000.
“This parcel has a great central core location with flexibility in the land use.” says Aaron West-Guillen. “This is a great redevelopment piece for investors or owner user opportunity with a yard requirement.” For more information on this property, contact Aaron West-Guillen or J. Michael Hoeck at 775-336-4600.

Investment and Retail Teams Close Deal

Press Release: Investment Group; Retail Group

775 336 4600

Blue Kangaroo, the leading childcare operator in all of Northern Nevada has successfully completed the sale and leaseback of its Northwest Reno location, 4820 Summit Ridge Drive, Reno, NV 89523. The owners of Blue Kangaroo will continue to operate the childcare facility on a long-term lease with absolutely no change in the operations. The sale of the facility will allow the owners to focus more of their time and resources on providing the absolute highest quality childcare facility possible. Blue Kangaroo was voted as the “Top Childcare Center” by the Reno Gazette Journal’s “Best of 2008” readers poll and “Best Learning Center” for seven years in a row by Consumer Business Review. The purchaser is an affiliate of John Dermody Ventures, a locally based real estate investment firm with a focus on high quality, long-term real estate investment. This transaction was a strong fit for both Blue Kangaroo and John Dermody Ventures because these two well respected Reno based companies take a long-term view with respect to their business operations. The sale and leaseback was facilitated by Scott Beggs and Chris Shanks of the NAI Alliance Investment Team and Kelly Bland of the NAI Alliance Retail Team.

51,000 SF Retail Space Available on Kietzke Lane in Reno, NV

Press Release: Retail Group

775 336 4600

NAI Alliance is proud to announce today that Retail Broker Kelly Bland has obtained a new listing agreement located at 3310 Kietzke Lane in Reno, NV. Bland will be representing the Landlord in the listing of the 51,000 square foot space. The building is located in the Kietzke Center adjacent to Sportman’s Warehouse and Ashley Furniture. For more information on this listing please contact Kelly Bland of NAI Alliance at 775-336-4600.

Office Team Closes Deal In NW Reno, NV

Press Release: Office Group

775 336 4600

Banyan Tree Properties, LLC purchased 3,636 square feet at 6350 Mae Anne Ave. Units 2 & 3, Reno, NV 89511, from Quail North West Phase II, LLC. Summit Pediatrics is currently operating in this location. This is the second location for Summit Pediatrics and is the first pediatric facility in Northwest Reno. The NAI Alliance office team of Scott Shanks, Dominic Brunetti, and Matt Grimes represented the Buyer, Banyan Tree Properties, LLC.

Office Team Closes Deals Downtown

Press Release: Office Group

775 336 4600

Investors Finance Company sold a 2,977 square foot building at 601 West First Street, Reno, NV 89503, to Ernst Properties, LLC. The NAI Alliance office team of Scott Shanks, Dominic Brunetti, and Matt Grimes represented the Seller, Investors Finance Company.

Sherman-Loehr Custom Tile Works, Inc. leased 956 square feet at 140 Washington Street, Suite 250, Reno, NV 89503. The NAI Alliance office team of Scott Shanks, Dominic Brunetti, and Matt Grimes represented the Landlord, AMH Properties, LLC.

Mark Keyzers Successfully Negotiates New Leases

Press Release: Retail Group

775 336 4600

NAI Alliance broker Mark Keyzers of the Retail division represented North McCarran Crossing, LLC in the leasing of 1,200 square feet to Little Caesars Pizza in the North McCarran Crossing Shopping Center. North McCarran Crossing is located at the south-east corner of North McCarran Boulevard and Northtowne Lane in Reno, Nevada. Little Caesars will be located at 2880 Northtowne Lane, Suite #105.

Keyzers represented WVC Commercial, LLC in the leasing of 1,238 square feet to Woodland Mart in the Woodland Village Shopping Center. Woodland Village Shopping Center is located at 18705 Village Center Drive in Cold Springs, Nevada. Woodland Mart will be located in Suite #102.

Industrial Team Closes Deal at 1482 Linda Way in Sparks, NV

Press Release: Industrial Group

775 336 4600

NAI Alliance announced the leasing of an 8,883 sf office/warehouse facility located at 1482 Linda Way to Complete Business Systems International. Complete Business Systems International is an online retailer of business products. This expansion more than doubles the square footage occupied at their prior location. The Industrial Team at NAI Alliance represented the owner, Servais Nevada Properties, LLC.

Land Group Now Listing 500+ Acres of Scenic Sierra Nevada

Press Release: Land Group

775 336 4600

NAI Alliance announced today that Commercial Brokers Aaron West-Guillen and Ryan C. Judson have obtained a listing agreement with Ponderosa Land & Livestock Co. to market 521.22 acres of beautiful Sierra Nevada. Overlooking Washoe Valley, Washoe Lake, and Thunder Canyon Golf Course, this property is ideally located just 20 minutes from Reno, and only 5 minutes from Carson City. The asking price for the entire acreage is $7,500,000, or multiple parcels are also available separately. For more information on this opportunity please contact Aaron West-Guillen of NAI Alliance at 775-336-4674.

New Retail Listings in Reno and Carson City, NV

Press Release: Retail Group

775 336 4600

NAI Alliance is proud to announce today that Retail Broker Kelly Bland has obtained several new listing agreements. Bland will be representing Developers Diversified Realty in the listing of 79,239 square feet in the former Mervyn’s building located at 6895 Sierra Center Parkway in Reno, Nevada. Kelly is also representing Developers Diversified Realty in the listing of 60,580 square feet located in the former Mervyn’s building at 3871 South Carson Street in Carson City, Nevada. For more information on any of these listings please contact Kelly Bland of NAI Alliance at 775-336-4600.

Land Team Secures New Listing

Press Release: Land Group

775 336 4600

NAI Alliance announced today that Commercial Brokers Aaron West-Guillen and Ryan C. Judson have obtained a listing agreement with Western Highland Mortgage to market a Residential Land Portfolio Sale. Of the two properties being offered in this portfolio, one consists of 3.67 acres for sale in Sun Valley, NV and has the possibility to develop 9 residential home sites. The other property is located off S.Virginia St. (Hwy 395) in Pleasant Valley and consists of 1.22 acres zoned for Low Density Suburban. The asking price for this portfolio is $200,000. For more information on this opportunity please contact Aaron West-Guillen of NAI Alliance at 775-336-4674.

Industrial Team Obtains New Listing on Joule

Press Release: Industrial Group

775 336 4600

NAI Alliance is proud to announce that Industrial Brokers Paul Perkins, Dave Simonsen, J. Michael Hoeck, Dan Oster and Carl Zmaila have obtained the exclusive listing agreement for the industrial warehouse facility located at 4955 Joule Street in Reno. The building is located between Joule Street and Ampere Drive just off of Rock Blvd. east of the Reno-Tahoe International Airport. Available spaces range from 40,126± sq. ft. to 140,400± sq. ft. For more information contact The Industrial Team at NAI Alliance at 775-336-4600.

Office Team Closes Deals

Press Release: Office Group

775 336 4600

Dr. Cliff Fisher leased 2,812 square feet at 9476 Double R Blvd., Reno, NV 89511. The NAI Alliance office team of Scott Shanks, Dominic Brunetti, and Matt Grimes represented the Landlord, Liberty Meadows A, LLC.

Dr. William McCalla renewed his lease of 2,000 square feet at 2281 Pyramid Way, Suites 14 and 15, Sparks, NV 89431. The NAI Alliance office team of Scott Shanks, Dominic Brunetti, and Matt Grimes represented the Landlord, Pyramid Center, LLC.

End of Year Industrial Market Report 2008

Press Release: Industrial Team
775 336 4600

ACTIVITY:
Although less impacted by the global economic downturn than local retail, office and land markets, the Reno/Sparks-Fernley industrial market limped along during 2008, with waning activity and steadily increasing vacancy. Gross absorption of 878,277 square feet during the fourth quarter brought the total for the year to just 3,480,512 square feet, 71% of the annual average for the previous eight years. Over 1.3 million square feet (39%) of market activity occurred in the largest submarket, Sparks, while activity in the North Valleys and East I-80 Corridor submarkets fell from almost 4msf during 2007 to 1.4msf in 2008. This is a reflection of the absence of big-box users in the market that had driven both build-to-suit (BTS) and speculative construction in those areas during the previous two years. The largest transaction during 2008 was just 208,000 square feet and only six other transactions were larger than 100,000 square feet, which dropped the average transaction size to 35,528 square feet from 51,029 square feet a year earlier.

NET ABSORPTION:
Although net absorption during Q4 was positive, it was a paltry 31,658 square feet, bringing the total for the year to 652,849 square feet. This is less than a third of the average for the previous eight years and, if not for almost 1 msf of net absorption in Q1 (most of which was the new 873,000sf PetSmart building), the entire year would have seen negative net absorption. The North Valleys and the East I-80 Corridor totaled more than 2 msf, which was offset by more than 1.4 msf negative net absorption in all other submarkets. This irony (those two submarkets had the highest net absorption but lowest gross absorption) is the result of BTS transactions counted in late 2007 as gross absorption which resulted in buildings accounted for as net absorption during the early part of 2008 when they became occupied (e.g. PetSmart). With no significant BTS projects in the hopper for 2009, we should see a more meaningful correlation between net and gross absorption during the coming year.

VACANCY:
The vacancy rate at the end of 2008 reached a record 12.79%, almost a 40% increase from the beginning of the year. Most of the increase, however, occurred by the end of the third quarter, when it stood at 12.74%. More irony: almost 52% of the vacant space is in the two submarkets mentioned above that had the lowest gross absorption and highest net absorption during 2008. Why, because most of the unprecedented speculative construction completed during the past two years occurred in these two submarkets…and much of it remains vacant.

CONSTRUCTION:
As the economy worsened and the year wound down, so did construction. Only 77,873 square feet was completed during the fourth quarter, almost all of which was BTS. This brought total construction for 2008 to almost 3.6 msf, 76% of what was planned last January. Most of the shortfall was in speculative construction, down to 1.9 msf from the 3.0 msf planned. Not surprisingly, there is virtually NO speculative construction planned for 2009 and planned BTS construction of less than 100,000 square feet.

LEASE RATES:
At the end of Q3 we observed some softening of asking rates, particularly for sublease space, as well as a widening disparity between asking rates and effective rates. With most economists predicting a prolonged economic downturn, this trend continued during the fourth quarter, as more sublessors and landlords wanted their space to become the “next deal made.” We expect the bidding wars to accelerate during 2009, due to more than 3.4 msf of new speculative space still sitting idle, a mounting supply of sublease space and the prospect of more companies defaulting on their leases, leaving landlords with unanticipated vacancies.

OUTLOOK:
Although the current economic woes are the most threatening since the Great Depression, the abiding hope as 2009 commences is that we may begin to see a glimmer of recovery by year’s end. With a net absorption rate of 2.1 msf/year (average 2000-2007), we theoretically have more than four years’ supply of industrial space and that doesn’t include space yet to become vacant from companies that might downsize, default or otherwise leave the market in the coming months. So, even if the economy does begin to rebound before the end of 2009 we probably wouldn’t see any meaningful speculative construction until the vacancy rate gets back to single digits and lease rates restore developers’ confidence. Add to that the lag time for actual construction and we probably won’t see any speculative reach the market until late 2011. There is a wild card, however. As our neighbor to the west wrestles with its monumental deficit, it is sure to look to business to bear a lot of the cost. That may drive companies into our market, much like what occurred in the early nineties. So, in spite of the current economic crisis, the long-term attractiveness and viability of our area for industrial users buoys our confidence that we will be among the early beneficiaries when the US economy begins to turn.

Office Team Closes Deals

Press Release: Office Group

775 336 4600

Blue Moon Marketing leased 2,816 square feet at 8545 Double R Blvd., Suite 103, Reno, NV 89511. The NAI Alliance office team of Scott Shanks, Dominic Brunetti, and Matt Grimes represented the Landlord, Villach LLC.

For Rent Media Solutions leased 950 square feet at 9650 Gateway Drive, Suite 102, Reno, NV 89521. The NAI Alliance office team of Scott Shanks, Dominic Brunetti, and Matt Grimes represented the Tenant, For Rent Media Solutions.

Summit Pediatrics leased 3,635 square feet at 6350 Mae Anne Ave., Units 2 & 3, Reno, NV 89523. The NAI Alliance office team of Scott Shanks, Dominic Brunetti, and Matt Grimes represented the Tenant, Summit Pediatrics.

Edward Jones leased 1,056 square feet at 855 Maestro Drive, Suite B, Reno, NV 89511. The NAI Alliance office team of Scott Shanks, Dominic Brunetti, and Matt Grimes represented both the Tenant and Landlord.

Amedysis Nevada, LLC leased 2,461 square feet at 140 Washington Street, Suite 150, Reno, NV 89503. The NAI Alliance office team of Scott Shanks, Dominic Brunetti, and Matt Grimes represented the Landlord, AMH Properties, LLC.

Powerhouse Gyms Leases 4,800 SF in Sharon Square

Press Release: Retail Group

775 336 4600

NAI Alliance broker Mark Keyzers of the Retail division represented Sharon Square, LLC in the leasing of 4,800 square feet to Powerhouse Gyms in the Sharon Square Shopping Center. Sharon Square is located at the north-east corner of Sharlands Avenue and Robb Drive in Reno, Nevada. Powerhouse Gyms will be located at 6275 Sharlands Avenue, Suite 12.

Office Team Obtains US Bank Listing in Downtown Reno, NV

Press Release: Office Group

775 336 4600

NAI Alliance is proud to announce that the Office Properties Team of Scott Shanks, Dominic Brunetti and Matt Grimes have obtained the listing to market the US Bank building at 1 E. Liberty Street for lease. The team will oversee the leasing of this 82,858 square foot office building, with 27,758 square feet available. Lease opportunities start at 981 square feet.

The US Bank building stands on the corner of South Virginia Street and Liberty Street in the heart of the downtown Reno financial district. The building is within walking distance to multiple amenities, including the Washoe County, City of Reno, and Federal courthouses. The property consists of a six story office building with onsite surface and garage parking. Multiple size ranges and configurations are available as well as excellent views from floor to ceiling windows.

For more information on the US Bank building contact Scott Shanks, Dominic Brunetti or Matt Grimes of NAI Alliance Commercial at 775-336-4600.

Q4 Retail Statistics

Press Release: Retail Group

775 336 4600

NAI Alliance Retail Division recently completed their market survey of the Reno Sparks Market for the fourth quarter of 2008. Excluding regional malls, their findings show total rentable square footage at 12,371,812 and total vacant square feet at 1,622,929. This gives an overall vacancy rate of 13.12%, line shop vacancy of 16.77% and anchor vacancy of 10.58%. These are the highest overall and anchor vacancy rates since they began tracking market statistics in 1990. 2008 saw a year of stark contrast between gross and net absorption. Total net absorption for the fourth quarter was -9,285 square feet and the total gross absorption was 536,808 square feet. Gross absorption for the year was 947,771 square feet, tied for the second highest year on record. However, the net absorption came in at a dismal -11,506 square feet, the lowest on record.

Cricket Wireless Leases 1,251 SF in Ironhorse Shopping Center

Press Release: Retail Group

775 336 4600

NAI Alliance broker Mark Keyzers of the Retail division represented Ironhorse Kohala LLC in the leasing of 1,251 square feet to Cricket Wireless in the Ironhorse Shopping Center. The Ironhorse Shopping Center is located at the south-west corner of McCarran Boulevard and Prater Way in Sparks, Nevada. Cricket Wireless will be located at 671 East Prater Way, Suite 667.