Wednesday, November 27, 2013

NAI Alliance Industrial Group Receives National Recognition at SIOR Conference

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.

Wednesday, November 20, 2013

NAI Alliance Releases Q3 2013 Office Market Report

The office market in Q3 2013 in Northern Nevada was exceptional.  Signs in the quarter were that not only are new businesses moving to the area, many local businesses are expanding in Northern Nevada.  While there are no promises that this will continue, there are activity indicators that we are moving ever-closer to at least a hint of normalcy as the rebound conitnues.

Below are a few of the key points regarding the Northern Nevada office market in Q3:
  • In Q3, there was 105,000 square feet of space absorbed by local economic growth
    • This number almost quadrupled absorbtion quarter over quarter
    • This number nearly tripled absorbtion in all of 2012
  • The overall vacancy rate is down to 13.9%· 
  • The South Meadows submarket led with 46,000 net square feet   
  • The downtown submarket absorbed nearly 30,000 net square feet
Scott Shanks, SVP/Principal, SIOR and Dominic Brunetti, SVP/Principal, CCIM prepared the report on the office market in Northern Nevada.  

To read the entire report, click here.

Tuesday, November 5, 2013

NAI Alliance Office Group Secures Lease for Pacific Business Centers in Downtown Reno

A new entry into downtown Reno.  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.