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.

Industrial Deals Painting a Bright Picture in Northern nevada

Ahead of today's new company announcement by EDAWN, the Northern Nevada Industrial Commercial Real Estate Market has been buzzing for the past few months.  

Published by the Reno Gazette Journal this week was an article focusing on the Industrial market and the millions, yes millions, of square feet that has been occupied this summer.  Dave Simonsen, Senior Vice President, Principal of the NAI Alliance Industrial Properties Group provided much of the commentary for the piece.

The main point is that, currently, companies are looking to expand.  More importantly, they are looking at Northern Nevada as a very attractive option.  A total of 38 transactions were closed in the second quarter of 2013 alone, bringing the vacancy rate down to 12.9%.  Diversified Distribution Services, UTI/Starbucks, Arrow Electronics, and Jacobsen Companies are just a handful of the companies expanding in Northern Nevada.

Today, EDAWN will be announcing a company bringing close to 140 jobs to Northern Nevada, and will follow up on Monday with an announcement of a new company who will inject another 150 jobs to the market.  

Good things are in the air for jobs and new business in Northern Nevada.  Now if somehow we could get out of fire season....

You can view the entire article by the RGJ by clicking here.

NAI Alliance Q2 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 17.54% from the previous quarter of 18.25% and from the previous year of 18.52%. 

The anchor space vacancy is currently at 13.52%. In-Line shops have increased in vacancy to 23.42% this quarter from 23.10% last quarter. Total net absorption for this quarter was 104,226 square feet,
while the gross absorption was 201,501 square feet. 

Click here to read the entire Q2 2013 Retail Market Report from NAI Alliance.