Industrial Construction is the highest it’s been in Reno, NV since 2006.

With 1.6 million square feet of speculative construction, planned or currently under construction, Reno looks to have a record breaking year adding new state-of-the-art facilities to our industrial base. 

Currently under construction, Panattoni is building a 200,000sf facility in the North Valleys, along with Dermody’s 224,640sf and 402,320sf buildings.  While KTR is building 566,785sf in the Tahoe Reno Industrial Center (TRIC).   Conco recently completed a 300,000sf expansion in TRIC, with another 678,750sf building planned.

Also planned, is an additional 707,660sf facility in the North Valleys, a 855,000sf building west of town, and two buildings in TRIC of 694,640sf and 80,000sf.

Build-to-Suit construction is also underway – with Tesla’s initial 1,000,000sf in TRIC (by Portofino), and PetCo’s 771,000sf in the North Valleys (by Panattoni).   Battery Systems recently occupied a 200,000sf new built-to-suit facility in TRIC.

Construction fever has certainly hit the Reno area, and with it brings the promise of utilizing our abundant labor force – providing new job opportunities and boosting our economy. 

NAI Alliance Wins Multiple Awards at the 10th Annual Summit Awards Event 2015

((Reno, NV) – The NAI Alliance offices in Reno and Carson City received seven awards at the 10th Annual Summit Awards recognizing the top brokers in the commercial real estate industry. 

The prestigious Broker of the Decade Award was given to the broker in each sector who has won the award most over the past ten years. J. Michael Hoeck, SIOR, Senior Vice President/Principal of the Reno Industrial Properties Group was named the Industrial Broker of the Decade, and Andie Wilson, CCIM, Owner of NAI Alliance Carson City was named the Generalist Broker of the Decade. These distinguishments are only awarded once every 10 years.

NAI Alliance Senior Vice President/Principal of Retail Properties, Kelly Bland, won the 2014 award for Retail Broker of the Year for the third year in a row.

NAI Alliance Industrial Properties Group, J. Michael Hoeck, SIOR; Michael Nevis, CCIM; Dave Simonsen, CCIM, SIOR; and Steve Kucera, CCIM, received three awards - the 2014 Largest Single Sale Transaction, 2014 Industrial Brokers of the Year, and the 2014 Overall Brokers of the Year award.

Alejandra Avila of NAI Alliance Carson City received the 2014 Extra Mile award. This award is given each year to a commercial real estate practitioner who has gone above and beyond in their industry.

The Summit Awards of Northern Nevada recognizes notable achievements in the commercial real estate sectors. The Summit Awards is the only awards program of its kind in Northern Nevada to encourage and recognize distinguished commercial agents, brokers, property managers, developers and projects. The annual Summit Awards are sponsored by the Northern Nevada chapters of CCIM, CREW, and NAIOP.

NAI Alliance Wins Three Categories at the Annual Summit Awards 2014 Event

Kelly Bland with NAI Alliance Reno Retail Properties group, members of the NAI Alliance Reno Industrial Properties group, and Andie Wilson, CCIM of NAI Alliance Carson City received coveted awards at the 9^th Annual Summit Awards Event held Friday, April 18th at the Eldorado Hotel Casino Convention Center. 

NAI Alliance Principal/Senior Vice President of Retail Properties, Kelly Bland, won the 2013 award for Retail Broker of the Year for the second year in a row!  The Broker of the year award is based on total production from a broker in the retail industry.  Some of Mr. Bland’s transactions in 2013 included the renewal of TJ Maxx, DB Shoes and Michael’s stores at Firecreek Crossing located at 4821-4871 Kietzke Lane; the sale of the former K-Mart building located at 4855 Summit Ridge; and the new CarMax Development along South Virginia Street in South Reno.

Also, the NAI Alliance Industrial Property brokers received the award for the 2013 Largest Single Sale Transaction.  J. Michael Hoeck, SIOR; Michael Nevis, CCIM; Dave Simonsen, CCIM, SIOR; and Dan Oster, SIOR of NAI Alliance Reno represented the seller, PanCal Fernley LLC, in the investment sale of a 337,500sf distribution warehouse.  The building is fully leased to Trex Company, Inc.    

And finally, Andie Wilson, CCIM, Principal/Broker-Salesperson of NAI Alliance Carson City received the 2013 award for Generalist of the Year. Based in Carson City, this is the third time Ms. Wilson has won this award. A generalist doesn’t specialize in any one area of commercial brokerage, instead participating in transactions across the board: industrial, retail, office, land, and investment.

           

The Summit Awards of Northern Nevada recognizes notable achievements in the commercial real estate sector from 2013. The Summit Awards is the only awards program of its kind in Northern Nevada to encourage and recognize distinguished commercial agents, brokers, property managers, developers and projects.  The annual Summit Awards are sponsored by the Northern Nevada chapters of CCIM, CREW, and NAIOP.

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.

NAI Alliance Industrial Team Releases Q4 2013 Market Report

The fourth quarter of 2013 continued the momentum from Q3 for the Industrial Commercial Real Estate market in Northern Nevada. It was a great close of the year as we look towards 2014.

Here are a few quick points. Further details are in the PDF.

• Vacancy rates are below 10% for the first time since Q1 2008 – 9.1%
• A balanced Northern Nevada market is in the 8-10% range
• Gross absorbtion was 89% higher than Q4 2012
• Net absorbtion was 526% higher (not a typo) than Q4 2012 and 768% higher (also not a typo) than the 5 year average.
• There were 41 transactions in the quarter with an average size of 41,000 SF per transaction.
• Only one developer is grading on a 399,000 SF
• Might cause the market to tighten with tenant inability to wait for ground up development.

 All of this means that we’re still on the path to recovery and have viable optimism for 2014.

Click here to download the entire report.

NAI Alliance Represents Both Sides in Sale of 61,000sf Building in Reno

Another good win continuing the momentum heading into 2014 as the NAI Alliance Industrial Properties Group of Dave Simonsen, Senior Vice President, SIOR, CCIM, J. Michael Hoeck, Senior Vice President, SIOR, Michael Nevis, Senior Vice President, CCIM, and Steve Kucera, Industrial Specialist recently completed the sale of the 61,152 square foot manufacturing facility at 400 Western Road in Reno, Nevada. The stand alone facility is situated over 5.0 acres of land.

NAI Alliance’s Dan Oster, Senior Vice President, SIOR represented the new owners of the building, ECO Windows. ECO Windows is relocating to the new, larger facility from their current location in Sparks, NV. 

The industrial market has seen a great deal of activity in the last two quarters of 2013.  Cautiously optimistic on the recovery, as we like to say, but very encouraging activity as we close 2013 and look forward to 2014.

NAI Alliance Industrial Properties Group Secures 60,000 SF Lease in the Reno Aircenter

The industrial market in Northern Nevada continues to see a positive uptick in 2013.

The NAI Alliance Industrial Properties Group of J. Michael Hoeck, Senior Vice President, SIOR, Dave Simonsen, Senior Vice President, SIOR, CCIM, Michael Nevis, Senior Vice President, CCIM, and Steve Kucera Industrial Specialist has recently secured a 10-year, 60,000 square foot lease for Winzer Corporation at 4795 Longley Lane in Reno, NV.

The space is part of the 13MM square foot portfolio IndCor operates in Reno.

Winzer Corporation has been in Northern Nevada since 2004. Winzer opened a regional distribution center in Sparks, NV to expedite services to their west coast franchises and their customers.

The move to a new 60,000 square foot location provides additional space to accommodate their growth. The facility will also feature enhanced automation and fulfillment solutions as well as storefront capabilities.

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.

Q3 Industrial Market Report Now Available

The third quarter of 2013 in the industrial market was exceptional here in Northern Nevada. The absorption of industrial space in the Reno-Sparks market in the third quarter — 1.8 million square feet — was more than five times greater than absorption in the same quarter last year. 

Bargains have nearly disappeared as the vacancy rate in industrial properties stands at 10.5 percent.  That's nearly a 2% drop in vacancy rates.  There were 9 transactions of more than 95,000 square feet.

So while we don't want to get too carried away, 2013 has continued to reward our cautious optimism in the industrial market.  The fourth quarter is a bit more concerning with governmental activity creating some skepticism on when and where to grow.  But right now, we will continue our optimism for Northern Nevada and the rebound we're seeing.  Good for the economy.  Good for jobs.  Good for Northern Nevada.
 
Click here to download the entire report.

You can also view an article published by the Reno Gazette Journal on the news by clicking here.

Myers Industries Moves Back to Sparks Facility - More Jobs to Northern Nevada

On the heels of the announcement of Aragh Group moving to McCarran, NV in the largest user transaction of the year to date, Myers Industries Lawn & Garden recently announced that they are returning to Sparks, NV.


Myers Industries owned the facility at 550 Spice Island - a property that had been brokered by the NAI Alliance Industrial Properties group of J. Michael Hoeck, SIOR, Dave Simonsen, SIOR, CCIM, and Michael Nevis, CCIM.

Myers initially moved out of the building in 2009, but as part of an asset reallocation, decided to move back to the area to get a better stronghold on their western states distribution, particularly in the Pacific Northwest.

Northern Nevada continues to be an attractive option for advanced manufacturing organizations. Skilled workforce, business friendly climate, and proximity and access to the Western United States are just a few of the reasons companies are moving in.

The combination of jobs being created in the next 6 months between Ardagh and Myers totals over 160. A summer of great news with more on the horizon. Fantastic work by the NAI Alliance Industrial Properties Group, EDAWN, and the Governor's Office of Economic Development in helping ensure that the future continues to be trending in a positive manner here in Northern Nevada.

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 Industrial Market Report Now Available

The past three months have felt like a throwback to the pre-recession busy days of old. Phones are ringing again, tours are taking place and deals are getting done. At the end of last quarter, we were poised to expect a good second quarter and we got it. Over the past 5 years we have been discounting good news with bad news. In 2009 and 2010 the scales were
tilted strongly negative. In 2011 and 2012 the scales were balanced with much of our quarterly market report describing good news being offset by bad news.

Thirty eight transactions were completed in the second quarter of 2013 with a gross absorption total of 1,234,86 square feet (sf). This is higher than prior quarters wherein we were struggling to reach one million sf. The 38 transactions are 12% above the prior three year quarterly average and the 1.23 million sf of gross absorption is 17% greater than the average of 1,055,889 sf. Average deal size was 33,375 sf which was again 11% larger than the three year average.

.....Click here to read the entire report.

NAI Alliance Wins Three Categories at the Annual Summit Awards 2013 Event

The Retail, Industrial, and Office Properties Teams at NAI Alliance received three coveted awards at the 8th Annual Summit Awards Event held Friday April 19th at the Eldorado Hotel Casino Convention Center.

NAI Alliance Principal/Senior Vice President of Retail Properties, Kelly Bland, won the 2012 award for Retail Broker of the Year. The Broker of the year is based on total production from a broker in the retail industry. Some of Mr. Bland’s transactions in 2012 included TJ MAXX in South Lake Tahoe, and two openings of 99¢ Only Stores, as a landlord and tenant rep at the new store in Sparks at 580 E. Prater Way, and as a tenant rep for the new location at 595 South Virginia in Reno.

The NAI Alliance Industrial Property Team received the 2012 Largest Single Industrial Lease Transaction award. J. Michael Hoeck, SIOR; Michael Nevis, CCIM; Dave Simonsen, CCIM, SIOR; and Dan Oster of NAI Alliance represented the landlord, Panattoni Development Company, and tenant in this transaction and were all in attendance to accept the Award. Trex Company leased a 337,500sf building at 2375 Newlands Road in Fernley NV. Trex Company is the country's largest manufacturer of wood-alternative decking and railing products, marketed under the brand name Trex®.

And finally, the NAI Alliance Office Team received the award for the 2012 Largest Single Office Lease Transaction. Scott Shanks, SIOR; Dominic Brunetti, CCIM; and Chase Whittemore secured the lease of the 75,500sf building at 520 South Rock Boulevard for Henry Schein. Henry Schein employs nearly 400 people in Northern Nevada and this new lease reflects their commitment to the area.

The Summit Awards of Northern Nevada recognizes notable achievements in the commercial real estate sector from 2012 while also looking forward to 2013. The Summit Awards is the only awards program of its kind in Northern Nevada to encourage and recognize distinguished commercial agents, brokers, property managers, developers and projects. The annual Summit Awards are sponsored by the Northern Nevada chapters of CCIM, CREW, and NAIOP.

Congratulations to all the winners! 

NAI Alliance's Dominic Brunetti presents the Retail Broker of the Year Award to Kelly Bland.

NAI Alliance Releases Q1 2013 CRE Industrial Market Report

NAI Alliance is pleased to provide our Q1 2013 Industrial Market Report for commercial real estate in Northern Nevada.  We’re heading in the right direction.  A neutral first quarter in 2013 is much more positive than the past 3 years of negative net absorbtion in prior first quarters.

Starting level heading into Q2 means we have no holes to dig out of.  That alone creates optimism for the market.  Rents have not increased on industrial properties, but we do foresee rent increases for specific property types in the near future.  Corporate earnings, housing, business investment and unemployment are all trending in the right direction helping our economy.

Click here or on the image below to view the entire report.  Also, if you'd like to sign up to receive our market reports, you can click here.

NAI Alliance Represents Landlord in Deal to Bring Zuvo Water to Northern Nevada

Another step in the right direction for northern Nevada as Zuvo Warter is moving its headquarters to the area. Currently with a staff of 4, the company plans to increase its employee base to 20-25 by the end of the year.

Zuvo is another company that has sprung up and is committed to long-term growth in Nevada. The company is currently in the process of moving its headquarters from Mountain View, CA to the area, and expects to be operational in April.

Michael Nevis, Senior Vice President/Principal of the NAI Alliance Industrial Properties Group, represented the landlord in the transaction - MEPT Southwest Commerce - to get Zuvo into their new space at 895 E. Patriot Boulevard in Reno.

Zuvo Water LLC is a global innovator of chemical-free water products. Zuvo Water’s product portfolio is based on a patented technology platform that reproduces the photo-oxidation process that naturally occurs in the environment.

Multi-Employer Property Trust (MEPT) is an open-end commingled real estate equity fund that invests in a diversified portfolio of institutional-quality real estate assets in the United States. Founded in 1982, MEPT now has over $5.60 billion in net assets and has become one of the largest real estate equity funds in the US.

You can read a detailed article, courtesy of the NNBW, by clicking here. The RGJ also published a story on this news.