SVN Gold Dust Commercial Associates is pleased to present the inventory report for August 2019. New listings include:
New Listing Alert: Historic Retail/Hotel in Virginia City
This ± 10,470 square foot retail/hotel historical building is located in Virginia City. The bottom floor is 100% leased to various retail tenants, and the second floor is renovated into ±16 plus spacious accommodations with modern amenities with private bathrooms. This historical piece is a staple property within the Virginia City area and sits on the main road, next to many other museums and adventure opportunities. This property is full of history, as it has hosted many colorful characters in its historical past.
New Listing Alert: Professional Office Space in Reno
A 1,018 square foot professional office space is available for lease. The suite contains an entrance on Maestro, reception, two private offices, break room, open bullpen, restroom and IT/storage closet. The building is centrally location in between Longley Lan and South Meadows in South Reno.
Featured Listing for August 2019: Industrial Flex Space in Reno
A ± 3,600 square foot unit is available for lease. Office, flex, showroom and warehouse throughout five class A building. There are a variety of sizes and configurations available with tenant improvement packages. This building sits on a high traffic corner and is situated between two intersections with access to SouthEast Connector as well as access to downtown, south Reno and Sparks.
Recently Closed Deal: The Twaddle Mansion, 485 W 5th Street in Reno
Senior Advisor Amanda Eastwick represented the seller, Laurence P. Digesti and Robyn McKinley Digesti, in the sale of the Twaddle Mansion, located at 485 W 5thSt. in Reno for $640,000. This transaction closed on Tuesday, July 16 for $640,000 and featured a 35-day closing. This historic building, located in a redevelopment area, was acquired by a local business owner.
The Mansion was constructed for Eben Twaddle who was a Reno Fire Marshall and a rancher in Washoe Valley. The building is perhaps the finest example of the Colonial Revival style in Reno. The ornamentation is outstanding in its variety and application. The lower floor, in particular, expresses a flamboyance rarely seen in a vernacular building outside of a large city. The porch, arched facade window and pedimented porch are unmatched in Reno in dramatic elegance. The Twaddle Mansion has been listed on the National Register of Historic Places Since 1983.
Recently Closed Deal: Turner Air Crossing, 4690 Longley Lane in Reno
Managing Director, Tomi Jo Lynch CCIM and Daniel Buhrmann of CBRE, co-listed the property and represented the seller, TREF Reno, LLC, in the transaction which closed on Wednesday, July 31, 2019. Bringing multiple buyers to the table, Lynch and Buhrmann negotiated the sale well above the original listing price of $12,700,000. The transaction was purchased by a family out of California through a 1031 Exchange. At the time of closing the property was 98% occupied and traded at a 5.33% cap rate.
The seller originally acquired Turner Air Crossing out of receivership via an online auction for $3,400,000 in 2012. Lynch assisted with that acquisition and has held the leasing for the past seven years. SVN | Gold Dust Commercial Associates will also be retaining the leasing for the new ownership.