Second Phase of Tahoe Reno Industrial Center Opened
Lance Gilman Commercial Real Estate Services announced the opening of the second phase of the Tahoe Reno Industrial Center, 10 miles east of Sparks on Interstate 80. Development Arts, Inc., a Reno real estate development company, acting as Eagle CPT LLC, was the first to purchase land in the second phase when it acquired 100 acres. The company said it plans to build a 1.9 million-square-foot industrial park on the site called the West America Commerce Center. Situated in Eagle Valley, the West America Commerce Center will be built in three phases, with plans to break ground on the first 600,000-square-foot structure in September. The company will build another 600,000-square-foot building, and then, pour a pad for a third site designated build-to-suit.
Nevada Cancer Institute Expansion
Nevada Cancer Institute (NVCI) announced construction is currently underway on new laboratory space at its flagship facility at One Breakthrough Way in Las Vegas to accommodate NVCI’s growing patient volume. The expansion will create five more patient exam rooms, for a total of 14. The new configuration will improve patient flow and allow for a second nurse’s station. Additionally, 5,000 square feet of new lab space is being constructed. When completed, the project will add three new labs to NVCI’s facility, bringing the total to 12. The four-story building has two wings for patient care, research and education.
Crisci Builders Completes Bank of America at Blue Diamond Crossing
Las Vegas-based general contractor Crisci Builders, announced that construction of the new Bank of America banking center at 4112 Blue Diamond Road has been completed. The general contractor provided ground-up, shell construction and interior build-out for the project in Blue Diamond Crossing commercial center. Blue Diamond Crossing represents the 16th Bank of America center Crisci Builders has constructed in Nevada since 2003. The project costs totaled approximately $1.5 million. Construction commenced in February 2007, and was finished in time for the banking center’s recent grand opening.
Olympia Gaming Closes on Land for New Resort
One of Northern Nevada’s most highly anticipated resorts will begin construction early next year. Olympia Gaming announced that it has acquired approximately 14 acres from RED Development for the $800 million Legends Marina Casino-Resort-Spa project. Having spent the past year designing the lakefront site and meeting with the community leaders and city officials, Olympia Gaming will begin building a project that will be an integral part of RED Development’s 1.2 million-square-foot Legends at Sparks Marina destination retail, entertainment center. The development is scheduled to break ground during the first quarter of 2008, and open in late 2009 or early 2010.
LaPour “LEEDs” the Way with New Suburban Office Development
Lapour, a regional commercial real estate development firm, recently broke ground on a $19 million, three-story, 70,000-square-foot LEED-registered office building, located at the southwest corner of Diablo and Interstate 215 Frontage Road just north of Russell Road. LaPour is a member of the United States Green Building Council and is committed to developing LaPour Corporate Center in an environmentally responsible manner. Upon completion, the project will be LEED (Leadership in Energy and Environment Design) certified – the guideline for construction, development and design of “green” buildings. Completion is slated second quarter of 2008.
Parkway Pointe Office Building Welcomes First Tenants
Leasing activity is heating up at Parkway Pointe office building, where its first tenants have taken occupancy and lease transactions for several others are being finalized. The 52,000-square-foot Class A professional building which opened in the first quarter of 2007, located on the western side of the Las Vegas Valley. Four tenants have already taken residency at Parkway Pointe and additional companies are in negotiation for existing spaces, which may measure from 1,200 square feet to 26,000 square feet.