Tom Fennell and Lindy Deller represented the seller, Neumann Family Trust, in the sale of the two building portfolio located on the corner of Ridge Street and Hill Street in Downtown Reno. The Ridge Street portfolio was sold for $1,135,000 ($178 per square foot) and totaled 6,372 square feet. The buildings were purchased by an owner-user represented by Travis Hansen of Stark and Associates. The second sale was a freestanding office building at 95 La Rue Avenue. Tom Fennell of DCG represented the seller and Lindy Deller of DCG represented the investor who purchased the building, Gerken Point Loma, LLC. These transactions are a mark of continued demand for businesses looking to either buy or lease office space in Downtown. The prominent downtown office buildings in the submarket are all boasting the lowest vacancy in years, and investors and owner-users are continuing to acquire buildings and land in the market.
Dickson Commercial Group (DCG) is a locally owned and operated, full-service commercial real estate firm headquartered in Downtown Reno and serving all of Northern Nevada.