Friday, February 7, 2014

Ground Breaking Ceremony for First New Constuction in N. Nevada in Nearly 2 years Mon. February 10 - 1 p.m.

Lake Washington Partners, a commercial real estate firm owning, managing and developing properties across the United States, will break ground Feb. 10 for phased development of 1.5 million-square-feet of distribution/warehouse space within Spanish Springs Business Center. Seattle area-based Lake Washington Partners purchased the 66-acre site from Spanish Springs Limited Partnership in October, 2013.

The ceremony is Monday Feb. 10 at 1 pm at 450 Ingenuity Ave. with representatives of Spanish Springs Limited Partnership, including Hawco Properties, the Economic Development Authority of Western Nevada (EDAWN) and Washoe County in attendance.

With an anticipated completion in late 2014, the first phase will be a 750,000-square-foot distribution center for SanMar Corporation – the first new construction in Northern Nevada in nearly 2 years, making it a fantastic story in terms of positive economic activities impacting the area.

The NAI Alliance Industrial Property Group of Dave Simonsen, SIOR, CCIM, J. Michael Hoeck, SIOR, and Michael Nevis, CCIM, represented the owner of the land, Spanish Springs Limited Partnership, in the transaction. Representatives from NAI Alliance will be in attendance at the event and will be available for additional comment.

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