It’s no secret that the real estate market has been in flux throughout the first quarter of 2023. Change is always scary, especially for those of us in industries that are directly impacted by the market’s ups and downs.

One of our core covenants at SVN is “Focus on the positive and the possible”. When the market is no longer a bonanza and business starts to slow, it’s easy to get discouraged and preoccupied by the negatives, but taking the time to notice the positive and focus on the possible around you is always worth the effort.

Even with the market’s recent fluctuations, this month I noticed some great things happening in our own Reno market. For example, High Mark Distillery, a tenant in a flex industrial park in Reno, recently doubled the size of their industrial space. This small business delivers delicious small batch spirits to the eleven western states and their drinks are so good that they’re currently expanding.

Felicia Keith-Jones, President of High Mark Distillery said,

“We are honored to distill great spirits on a much bigger scale this year. Reno just keeps on growing, and it’s a very thirsty town! To continue handcrafting ten delicious spirits, and age our Bourbon and Rum to perfection, we needed to double our Barrel House space again this year.

We are truly thankful for Tomi Jo Lynch keeping us informed each month on available square footage and prices. It takes a team to expand and succeed in business, and Tomi Jo was a definite asset to our growth plans.”

While the headlines lean towards negativity, there are bright spots in our market and stories of success all around. Working with someone who focuses on the positive and possible can make all the difference when it comes to finding a successful outcome for all parties.

If you’re in the Reno area, swing by High Mark Distillery to try a free tasting! Or if you need help expanding your business, finding your next investment, or selling a current property, I would love to partner with you to reach your goals!

The president of High Mark Distillery, Felicia Keith-Jones, was very pleased with their experience working with Tomi Jo Lynch and SVN Gold Dust. High Mark has recently doubled the size of their space to keep up with demand for their delicious spirits! Check out www.highmarkdistillery.com or swing by for a free tasting!

One of the most notable differences about how SVN® does business, what we like to call the SVN® Difference, is promoting cooperation between brokers. Our core covenants are to “create amazing value with our clients, colleagues, and community” and to “cooperate proactively”. This deal was made possible through cooperation with a colleague and creating value for our new tenant, the owner of the space, and the Midtown Reno community. This deal was a win-win-win!

This deal came together with the help of a friend and colleague, Amanda Lavi with Colliers International- a big thank you to Amanda for collaborating on this! By working together and reaching out to the greater commercial real estate community, I was able to connect a qualified tenant with a beautiful, perfectly located new home for their business. Not only did both tenant and landlord benefit from this deal, but the burgeoning Midtown area of Reno has gained another great locally owned business! 24 California will now be home to a location of the RareTea franchise. RareTea has rented 1,647 SF in the newly renovated 24 California retail building that sits perfectly on the corner of Virginia Street and California Avenue, in Reno.

RareTea is a franchise with over 25 locations nationally and they have decided to open their latest, locally owned location at 24 California. This tea shop serves everything from teas to lattes to smoothies, specializing in milk teas.

Apart from finding the best outcome for both my clients and businesses looking for the perfect space, I love that I get to be a part of our growing community and bringing more life to areas of town.

There are still three spaces left in this beautiful and newly renovated building. If you’re in the market for a new retail, office, or restaurant space to call home for your business- reach out to me! Brokers- if you have a client who would love one of these spaces, let’s work together on getting 24 California fully leased and making it a new hotspot in Midtown Reno.

Tomi Jo Lynch, SIOR, CCIM, Managing Director

775.530.2621

Tomijo.lynch@svn.com

Welcome to the Neighborhood RareTea!

RareTea has leased 1,647 SF in 24 California Avenue and will be opening a new location in Midtown. RareTea serves a variety of beverages, including teas, lattes, and milk teas. This franchise has over 25 locations and will soon be sharing their delicious drinks with the Reno area! Swing by 24 California to get a delicious meal or drink from one of our amazing tenants!

Thank you to Amanda Lavi with Colliers for helping find RareTea a new home in 24 California!

SOLD | $2,700,000

Arrowhead Drive, Carson City, NV

Tomi Jo Lynch, SIOR, CCIM, and Thomas Y. Johnson, CCIM, represented both the Buyer and the Seller in this deal. The Buyer had previously purchased the adjacent parcel and now holds a total of ± 24.31 acres on Arrowhead Drive. Congratulations to the Buyer, Seller, Tomi Jo, and Tom for completing this sale!

SOLD | 3 INDUSTRIAL LOTS
North Deer Run Road, Carson City, NV

Tomi Jo Lynch, SIOR, CCIM, represented the Seller and orchestrated the sale of three lots on N Deer Run Road. The three lots have sold to two separate buyers for a total of $623,238 and 3.18 acres.

Four lots are still available for sale and can be bought separately or together. Located in the Deer Run Industrial Park in the northeastern urban area of Carson City, NV, with easy access to Highway 50 and Interstate 395.

JUST SOLD – $2,974,500

25 Ponderosa, West Wendover, NV

Congratulations to Wes Brogan, Associate Advisor, on finding his client their next investment! “This was a very fast and smooth transaction and was over the asking price. Congratulations to my client.” Brogan said of the deal.