Building Nevada Briefs - November 2007

Building Nevada Briefs

Green Valley Corporate Center Strives to LEED Certification

American Nevada Company is pre-leasing space in the four-story, Class A office building which is under construction in the 90-acre, master-planned Green Valley Corporate Center. The 134,400-square-foot building offers a prime location in a master-planned business park. The building will be constructed in ways that are environmentally sensitive, with a target of achieving LEED certification for the project. LEED Green Building Rating System is the nationally accepted benchmark for the design, construction and operation of high performance green buildings. The building is expected to be ready for occupancy in the second quarter of 2008.

Dermody Properties Acquires 50 Acres

Dermody Properties announced the acquisition of 50 acres of land at the Tahoe-Reno Industrial Center in Storey County. The plan is to develop a build-to-suit warehouse and distribution center, called LogistiCourt in East Reno. Dermody plans to break ground in spring 2008 and intends to offer build-to-suit opportunities for purchase or lease, as well as pad-ready land sites for sale. LogistiCourt is a sister to Dermody Properties national brand of integrated logistics development projects, LogistiCenter. Dermody Properties has developed more than 25 million square feet of LogistiCenter projects in five different states, and plans to build nationwide.

Las Vegas Welcomes Britain’s Largest Retailer

Territory Incorporated recently announced the addition of Britain’s largest retailer, Tesco, to the Las Vegas Valley. Tesco’s Fresh & Easy Neighborhood Market is the newest tenant to join the Commerce Commons retail neighborhood shopping center in North Las Vegas. The 10,000-square-foot market is smaller than a typical supermarket and features easy-to-shop aisles for quick in-and-out access. Tesco plans to open 30 Fresh & Easy stores in Las Vegas, Los Angeles, Phoenix and San Diego by February of next year, creating around 2,500 new jobs.

RE Investment Company’s New Building

Blackfire Investors announced recently that is has purchased the 39,364-square-foot office building located at 639 Isbell Ro. in Reno. The group plans to make significant renovations to the property and pursue an aggressive new leasing campaign. Matt Riecken and Annemarie Huismann of CB Richard Ellis have been selected as the project’s leasing brokers, while NCS Commercial Services will be the new property managers. HMC Architects will be undertaking the building’s redesign and Finska Contractors has the construction contract.

First Phase of Tahoe-Reno Industrial Center Completed

Developer Union Property Capital completed construction of a 500,000 square foot structure, the first of four phases at the 108-acre Tahoe-Reno Industrial Center. The first phase of development is to be named USA Industrial Center. The company is seeking tenants for the building which can be expanded to 800,000 square feet. Union Property plans to build three additional warehouses totaling 1.1 million square feet.