Wednesday, June 10, 2015

Panattoni launches first phase of largest spec project in the region’s history!

June 4, 2015

Located in the North Valleys submarket near the intersection of Lemmon Valley Dr. & HWY 395, the North Valley Commerce Center will offer 3 buildings totaling over 1.4MM square feet.

The project, which is expected to break ground in late June on phase-one includes a 707,660sf building, the largest spec project ever built in the region. This speaks volumes regarding the confidence Panattoni has in Northern Nevada’s continued economic growth.

Reno/Sparks is headed for explosive growth, according to Mike Kazmierski, CEO and president of the Economic Development Authority of Western Nevada (EDAWN).  “Even if Tesla went away, we’d still see more growth than we’ve ever seen”, he said.

Our location and business cost advantages continue to attract large e-commerce, manufacturing and distribution companies like Amazon, Zulilly, Apple, Petco, Switch and Tesla – as well as many other companies large and small.

Market rents have steadily increased and inventory is getting tighter.   The scope of this project signifies that our economy is on the upswing and the momentum is expected to continue.

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