Friday, November 16, 2012

IBM Grant

In another significant sign that Reno’s “high tech” makeover is gaining traction, it was just announced that the City of Reno is the recipient of a $400,000 grant from IBM to promote economic growth in the area’s burgeoning tech sector.  The grant, part of IBM’s three-year, $50 million Smarter Cities program will be used to create a partnership between the City, the University of Nevada, Reno and the Desert Research Institute with the goal of attracting tech based firms and more importantly, high paying, high skilled jobs the Truckee Meadows.  IBM will also be sending a team of its experts to Reno to assist in the development of the team and implementation of this strategy.  Earlier this year Apple announced $1 billion in investment in the area in the form of a data center east of Sparks and a business center downtown, the development of both are firmly underway.  IBM’s recognition and grant further solidifies Reno’s evolution towards being a cutting edge, diverse and thriving community

Written By:  Ray Tuntland | Investment Services Group

Orginal Article:

Wednesday, November 7, 2012

Q3 2012 Office Activity

Posted by: NAI Alliance Office Group
775 336 4600

Third Quarter 2012 Office Activity
The pending election has been the excuse for many delays in tenant expansion, movement and investment and it continues to make an impact on the Northern Nevada office market. The Apple announcement continues to be a topic of economic development conversation. In further, the region strives to become a tertiary hub for continued data center activity. Secondly, the call center trend of over a decade ago is back in swing. With the announcement of two new service support centers, one being One Contact Inc., headquartered in Toronto, taking foot in the region to take advantage of the available work force and near plug and play office space.

And, organically, Mid-Town continues to progress and attract small retailers and professional services firms to downtown. New vertical construction has commenced on the Thoma & S. Virginia Street site and Marmot Properties continues to transform their 2 block residential assemblage in the immediate area. This continued redevelopment and successful push in the downtown food and beverage landscape, has had a positive effect in attracting more tenants to the CBD.