 |
|
|
|
|
Hidden Valley Tech Center
Reno, Nevada
|
| Description:
|
 |
A newly constructed five building business
park located in the Reno Airport submarket. Constructed
in phases between 2000 and 2003, the property contains
a mix of showroom, office and industrial space. |
| Size:
|
5 buildings totaling 129,767 square feet.
The property occupies 13.77 acres of land. |
| Purchase
Price: |
$19,100,000 |
| Deal
Attraction: |
Birtcher Anderson Realty was attracted
to Hidden Valley Tech Center due to its exceptional location
in one of the strongest commercial real estate markets
in the western United States. Also, property was acquired
at 30% discount to current replacement. Potential to add
significant value to the property in the short term is
provided by the property being 70% occupied in a sub-market
with 92% average occupancy. |
| Business
Plan: |
Aggressively lease up the property to
stabilization and renew major tenants to current market
rental rates during the next 4 to 5 years. Upon stabilization,
property will either be financed or sold, based upon investment
market conditions then present. |
| |
|
|
|
|
|
 |
