Check out our new series, CRE Solutions! In this video series, we’re answering the questions that you ask us most frequently. Whether you’re a tenant, landlord, buyer, or seller, we’re here to answer your commercial real estate questions. This week’s question is from a tenant’s perspective, “Can I sublease my space?” Stay tuned for more episodes of CRE Solutions!

Check out what our client of four years, Brad Jacobs of Simon Levi Inc., has to say about his experience with SVN Gold Dust. Thank you for your kind words Brad!

Tomi Jo Lynch, SIOR, CCIM, has recently become a member of the board of directors for Heritage Bank of Nevada, a division of Glacier Bank! Tomi Jo looks forward to continuing to serve her community in this new role.

SVN International has shared that SVN has been recognized as one of 300 companies making waves in the 2023 Real Leaders Impact Awards! We are so proud to be ranked alongside global leaders, as a purpose-driven company, committed to being a positive force of change in all areas of our business. This award is a result of our organization’s collective belief in the SVN Difference and a Shared Value Network.

One of our core covenants at SVN is “Honor my commitments”. A career in commercial real estate requires commitment, and it most certainly requires honoring the promises we’ve made- to our clients, our colleagues, and ourselves.

Commercial real estate transactions take time. Deals don’t come together overnight. Building relationships with clients and colleagues takes time. Closing deals can sometimes take years, requiring tenacity, and perseverance.

One of my latest sales took almost two years to complete. Talk about tenacity and commitment! During the time 401 Los Altos Parkway in Sparks, Nevada, was on the market, multiple offers were made, and multiple offers fell through. 401 Los Altos is a pad site on a highly trafficked corridor in Sparks, Nevada, and was one of the last available in that area. The pad was encumbered with a ground lease to a large corporation, who had first right of refusal to purchase the property. In this case, the lessee had 45 days to respond after each offer was made by a third party. We diligently presented and responded to each offer. Unfortunately, time kills all deals and waiting for the lessee to respond often got in the way of opening escrow.

Eventually, the lessee decided to purchase the site and after two years, a successful deal was reached.

Although this deal took time, patience, and tenacity, I knew I needed to honor my commitments and see this deal through. SVN and its members are committed to getting the deal done. Through perseverance, problem solving, and a whole lot of dedication, we make deals like this come together. 

Tomi Jo Lynch, SIOR, CCIM, Managing Director

775.530.2621

Tomijo.lynch@svn.com

I was recently reminded about the value of being versatile in the commercial real estate industry. I deal with clients ranging from individuals to large corporations, someone looking to rent 400 SF for a small office to someone looking to buy a 300,000 SF industrial building. Commercial real estate requires versatility and adaptability. Here at SVN®, we pride ourselves on both.

One of our core covenants is “Cooperate proactively and place my clients’ best interests above my own.” Although we always work to place our client’s best interests above our own, their interests often vary greatly from client to client. Our commitment, professionalism, and level of skill does not vary between clients, but our communication and negotiation styles certainly do.

Earlier this month I closed a deal that was a lease for 512 SF in an office building in downtown Reno. The new tenant is an individual that is just starting their own business. A few weeks ago, I also completed a land disposition for $1,900,000. The buyer of this parcel was a large corporation with deep pockets and plenty of real estate knowledge. The level of care I demonstrated throughout both deals was the same, but I needed to be versatile and adaptable while facilitating both deals. A person starting their own business and looking for a small office has different needs and communication style than a large corporation looking to make a land investment.

The commitment remains the same, but meeting the client where they’re at and adapting to their needs and style is equally important. Those of us in commercial real estate need to have the ability to be a chameleon, as well as never change our spots when it comes to putting our clients first.

Tomi Jo Lynch, SIOR, CCIM, Managing Director

775.530.2621

Tomijo.lynch@svn.com

Way to go Jack!! Senior Advisor, Jack Brower, CCIM, has ranked in the top ten advisors at SVN® for the month of October! He now ranks in the top 100 SVN advisors for all of 2022. Congratulations Jack!!

October 19, 2022

SVN | Gold Dust Commercial Associates, one of the region’s premier brokerage firms, has completed the sale of 550 Mallory Way, Carson City, NV.

Jack Brower, CCIM, and Wes Brogan represented the Seller of this ± 119,500 SF industrial building located in the heart of Carson City. 550 Mallory sports close proximity to Highway 50, Highway 395, Interstate 580, and Carson City’s two busiest thoroughfares. The building offers a range of clear height from 12 feet to 20 feet, as well as several dock-high and at-grade doors. The property is also well situated in the Northern Nevada industrial market which boasts one day truck service to eight states and two-day truck service to 11 western states.

This class C industrial facility is one of the largest of its kind in Carson City and will be used by the owner. The remaining space not occupied by the owner is currently available for lease.

October 18, 2022

SVN | Gold Dust Commercial Associates, one of the region’s premier brokerage firms, has completed the sale of 401 Los Altos Parkway, Sparks, NV, for $1,900,000.  Managing Director, Tomi Jo Lynch, CCIM, SIOR, represented the Seller of this ± 1.079 acre pad site.

401 Los Altos is one of the last available pad sites on the highly trafficked retail corridor of Los Altos Parkway. Over 13,000 vehicles travel Los Altos Parkway daily, making this corridor incredibly desirable for retailers and restaurants, alike. Centrally located in the Spanish Springs Town Centre, 401 Los Altos boasts a population of over 81,000 within only three miles. This pad site also offers excellent visibility and signage for the new owner.

We had the great pleasure of hosting CCIM’s October Have’s & Want’s and it could not have gone better!

This broker’s open house was hosted at 24 California Avenue in the heart of Midtown in Reno. 24 California is a historical building that is receiving a new lease on life in the form of a largescale renovation. Everyone enjoyed a delicious lunch from Elixir and the Wheyfarer, two of 24 California’s tenants.

Thanks to everyone who joined us!