Greetings, I recently spoke with Adrien Burney of Nevada State Development Corporation, an originator of SBA loans. She informed me the interest rates for the SBA portion of the SBA 504 loan was now down to 4.70%! An SBA 504 loan program involves two loans combined as a 1st and a 2nd mortgage. The 1st [...]
Post Tagged with: "Reed Simmons"
Green Commercial Office Leases
Greetings, Due to the slow economy and lack of new commercial construction, emphasis on green building practices has dwindled, at least temporarily. However, there is still some interest in green leases. Tenants and landlords sometimes share an interest in making their spaces conform to green, environmentally responsible standards. Here is a link to the article [...]
Reno Commercial Office Market Flat
Greetings, Here we are with the first two quarters of 2011 behind us, and the question arises: Where do we stand in the Reno/Sparks office sector? In a word – flat. Vacancy has remained virtually unchanged at 20%. There have been some successful leases which have been offset by vacancies, such as Alere Medical and [...]
Reno Commercial Office for Lease
Greetings, My partner and I just listed for lease a great office building at 5575 Kietzke Lane. The building is located at the back end of the Mountainview Corporate Center on S. Kietzke Lane. The space features 3143 square feet, has 8 separate offices plus an open area for cubicles and is located in a [...]
We just closed A Large Sparks Apartment Complex
Greetings, My partner, John Pinjuv, and I recently closed escrow on a 240 unit apartment complex in Sparks, NV. The property is called The Waterford. It is located right behind Western Village and backs up to the Sparks Marina. The sale price was $13.6 million, and the Cap Rate was 8.5%. The property was constructed [...]
Somersett Town Square On The Market
My partner and I have recently listed for sale another bank owned commercial property located in the beautiful golf course community of Somersett in NW Reno. This property is called the Somersett Town Square at 7655 & 7665 Somersett Parkway. The project consists of two commercial buildings, each with approximately 17,700 SF of commercial space. [...]
Looking for a Commercial Lease
A friend of mine who owns an insurance business recently called me because her commercial lease is up the end of this year and she wants to start looking for new space. Her space needs put her in the 4500-5000 sf range. She was pleasantly surprised at the cheap lease rates that exist in South [...]
Commercial Multifamily Market – How This Translates to Reno
U.S. Homeownership Rate By Quarter Today’s Weekly Market Insight, by Bob Bach of Grubb & Ellis Company, talks about the national residential rental market and the impact foreclosures have had. It is common knowledge that increased foreclosures and short sales nationwide have forced record numbers of residents from their homes and into rental properties. Many [...]
How Does Shadow Space Affect the Reno Office Leasing Market?
Shadow office space is defined as office space where the tenant has shut down their operations but still have several years left on the lease. The tenant typically vacated the space during the recession and is continuing to pay the high rent rate that existed when the lease was originated several years previous. In order [...]
Few Multifamily Commercial Sales in Reno in 2010
In 2010, there were only 4 sales of multifamily properties with more than 10 units. The highest price was $1,550,000 for a 118 unit senior living facility on Beech Street, Reno. The price/unit was a paltry $13,136. The lowest price was $605,000 for a 32 unit property on Tripp Street, Reno. The price/unit here was [...]
