(Reno, Nev.) – In the North Valleys Submarket, Joel Fountain; Chris Shanks, CCIM; Dominic Brunetti, CCIM; and Scott Shanks, SIOR, as exclusive investment sales advisors to the seller, successfully negotiated the investment sale at 12085 Moya Blvd. for $3,450,000 ($68.20 p/sf), or a 6.4 percent selling cap rate. The listing team was able to close the transaction in just 22 days. The Moya property is situated on 3.15 acres and consists of a 50,585-square-foot storage facility with tenant High-Quality Organics. HQO partners with hundreds of family farms in over 40 countries to provide customers with the high-quality organic ingredients. The purchaser, CKMR2 LP, is based out of Sacramento, Calif.
In Downtown Reno, Dickson Commercial Group also represented both buyer and seller in the multi-parcel sale at 601 E. 4th Street, which sold for $3,800,000 ($60.41 p/sf). The portfolio sale consisted of 62,903 square feet of warehouse space on a total of 1.86 acres. Tom Fennell, CCIM, and Chris Shanks, CCIM, represented the seller, and Travis Hansen, CCIM represented the purchaser, EMR Land Company, LLC. EMR plans to reposition and re-tenant the buildings in the coming months with significant capital improvements planned for the near future.
“EMR Land Company is very excited to diversify its Reno holdings with this 4th Street acquisition,” said Josh Thieriot, managing member, EMR Land Company, LLC. “We see great potential in 4th Street and look forward to contributing to the revitalization of the historic Lincoln Highway.”
About Dickson Commercial Group:
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. Dickson Commercial Group serves all sectors of commercial real estate, including sales and leasing for industrial, office, retail, multifamily, and land. Dickson Commercial Group also offers a full spectrum of commercial services from property management and construction management to investment underwriting and feasibility studies.