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N SIERRA STREET RENO, NV THREE-STORY MIXED-USE BUILDING IN THE HEART OF DOWNTOWN RENO UNDER NEW OWNERSHIP

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Page 1: N SIERRA STREET - LoopNet · WHY RENO? Regarding Tesla’s decision to build a Gigafactory near Reno: “This is not just about incentives. [Nevada is a] really get things done state

N SIERRA STREETRENO, NV

T H R E E - S T O R Y M I X E D - U S E B U I L D I N G I N T H E H E A R T O F D O W N T O W N R E N O

U N D E R N E W O W N E R S H I P

Page 2: N SIERRA STREET - LoopNet · WHY RENO? Regarding Tesla’s decision to build a Gigafactory near Reno: “This is not just about incentives. [Nevada is a] really get things done state

P R O P E R T Y H I G H L I G H T S

100 N Sierra sits in the heart of Downtown Reno on the corner of 1st Street and N Sierra Street, across from the Century Riverside 12 Theater. Surrounded by a wide assortment of amenities including some of the trendiest restaurants, bars, coffee shops, boutiques and living spaces. Midtown, The River Walk and Greater Nevada Field are all within walking distance.

30,015 SF AVAILABLE

• 14,996 SF SECOND FLOOR (DEMISABLE)

• 15,019 SF THIRD FLOOR

NEW OWNERSHIP HAS COMPLETED INITIAL

TRANSFORMATION AND IS READY TO PROVIDE

NECESSARY TENANT IMPROVEMENTS

ACROSS THE STREET FROM THE CITY OF

RENO PARKING GARAGE WHICH OFFERS 650

PARKING SPOTS

LIBERTY FOOD & WINE RESTAURANT AND

RENO AXE WITHIN THE BUILDING

BUILDING SIGNAGE AVAILABLE

T W O F U L L F L O O R S O F O F F I C E S P A C E A V A I L A B L E

Page 3: N SIERRA STREET - LoopNet · WHY RENO? Regarding Tesla’s decision to build a Gigafactory near Reno: “This is not just about incentives. [Nevada is a] really get things done state

R I V E R WA L K

C I T Y P L A Z A

C I T Y O F R E N O

PA L L A D I OPA R K I N G G A R A G E

G R E AT E R N V F I E L D

T R U C K E E R I V E R

N SIERRA STREETRENO, NV100

C E N T U R Y R I V E R S I D E 12 T H E AT E R S

A R E A M A P

Page 4: N SIERRA STREET - LoopNet · WHY RENO? Regarding Tesla’s decision to build a Gigafactory near Reno: “This is not just about incentives. [Nevada is a] really get things done state

UNIVERSITY OFNEVADA

DOWNTOWNRENO

Wells Ave

2nd St

Center St

Virginia St

Arlington Ave

Liberty

St

California Ave

Sierra St

Sierra St

Sierra Tap House

Parking Gallery

Park Towers Condos

Barbara Bennett Park

Reno Justice Court

Washoe Public House

Pioneer Center ofPerforming Arts

Great BasinCommunity Co-Op

Second Judicial Court

Wild River Grill

Old Granite Street Eatery

Public Parking

Federal Court House

Wingfield Park

Nevada Museum of Art

Greater NV Field AAAAStadium Freight House District

50 W Liberty

100 W Liberty

Reno Police Department

Reno City Hall

The Basement& West Elm

Century Riverside12 Theaters

Palladio, CAMPOOld Bridge Pub & Smee's

Alaskan Fish MarkeT

City Plaza

National Bowling Stadium300 E Second

Wells Fargo Building

Renaissance

1 E Liberty

Reno Events Center

100 N Sierra Street

100 N Sierra Street

N

370143

A M E N I T Y M A P

Page 5: N SIERRA STREET - LoopNet · WHY RENO? Regarding Tesla’s decision to build a Gigafactory near Reno: “This is not just about incentives. [Nevada is a] really get things done state

30,015 TOTAL SF AVAILABLE

SECOND FLOOR | 14,996 SF THIRD FLOOR | 15,019 SF

F L O O R P L A N S

Page 6: N SIERRA STREET - LoopNet · WHY RENO? Regarding Tesla’s decision to build a Gigafactory near Reno: “This is not just about incentives. [Nevada is a] really get things done state

WHY RENO?Regarding Tesla’s decision to build a Gigafactory near Reno:

“This is not just about incentives. [Nevada is a] really get things

done state. That was a really important part of the decision.”

Elon Musk, CEO, Tesla Motors

“Reno plays an incredibly important role in the products and

services that we provide our customers worldwide. Without the

data center here, none of this would be possible. We’ve invested

$1.6 billion in the region today and over the course of the next

six years, we intend to invest an additional $1 billion.”

Tim Cook, Tech Company CEO

“In February of 2017, the Las Vegas-based Switch has opened the

largest data center in the world, next to Tesla Inc.’s battery

factory in northern Nevada’s Tahoe Reno Industrial Center.

Covering 1.3 million square feet, the facility fulfills the vision

of Switch founder and CEO Rob Roy to create the largest data

center ecosystem in the world for our customers’ mission-

critical workloads.”

Adam Kramer, EVP Of Strategy, SWITCH

Reno ranked among the “15 Prime Real Estate Locations Investors Need To

Check Out” by Forbes for 2019Forbes.com - Jan. 2019

Reno, Nevada #1 in job growth in 2018 Bureau of Labor Statistics – Jan. 2019

Reno the #2 market for companies relocating from California after Austin, Texas

Bureau of Labor Statistics – Jan. 2019

Reno moved up 26 spots to #11 on the Milken Institute’s annual list of “best-

performing cities.”Venture Beat - Jan. 2019

Nevada tops nation for inbound movers in 2018Reno Gazzette Journal - Jan. 2019

Nevada ranked #3 for year-over-year personal income growth in the U.S.

CarsonNow.org - Jan. 2019

Page 7: N SIERRA STREET - LoopNet · WHY RENO? Regarding Tesla’s decision to build a Gigafactory near Reno: “This is not just about incentives. [Nevada is a] really get things done state

WHO HAS MADE THE MOVE...

FIGURE TECHNOLOGIESA financial technology company leveraging blockchain, AI and analytics to deliver products to improve the financial lives of their customers, Figure is expanding operations to Reno, Nevada. The company plans to hire 240 employees over the next several years.

BLOCKCHAINS, LLCIn January of 2018, Blockchains, LLC – a company focused on underlying technology behind cryptocurrencies such as Bitcoin - purchased 67,125 total acres east of Reno next to Tesla, Apple & Google with plans to build a “smart city” built on blockchain technology.

SWITCHSwitch is the world’s largest data center at 1.2 million square feet. Switch has completed their construction for a total of seven buildings and 6.49 million square feet of high tech data campus on 1,000 acres.

TESL ATesla/Panasonic selected Northern Nevada as their location for the world’s largest Gigafactory focusing on manufacturing of cutting edge technologically advanced energy storage.

R E C E N T LY R E L O C A T E D C O M P A N I E S ( 2 0 1 5 - 2 0 1 8 )

Page 8: N SIERRA STREET - LoopNet · WHY RENO? Regarding Tesla’s decision to build a Gigafactory near Reno: “This is not just about incentives. [Nevada is a] really get things done state

top REASONS TO MOVE TO RENO

FAVORABLE TAX STRUCTURE

LOW COST OF BUSINESS

INFLUX OF NEW BUSINESSES: TESLA, SWITCH

PROXIMITY TO MAJOR MARKETS

IMPRESSIVE JOB & POPULATION GROWTH

PROMINENT EMPLOYERS• DUP ON T

• EL DOR A DO RES OR T S

• EMPL OY ERS

INSUR A NCE

• F EDE X

• IN T ERN AT ION A L GA ME

T ECHNOL OGY ( IG T )

• IN T UI T

• N V ENERGY

• PA N A S ONIC

• PATAGONI A

• RENOW N HE A LT H

• SIERR A NE VA DA CORP OR AT ION

• S W I T CH

• T ESL A

• UNI V ERSI T Y OF

NE VA DA , RENO

• UP S

• URBA N

OU T F I T T ERS

6THIN U.S. FOR JOB GROWTH BETWEEN 2017-2019Source: Economy.com

toP 10RANKED STATES FOR BUSINESS

Top State FOR ECONOMIC GROWTH POTENTIAL

Business Facilities’ Magazine – 14th Annual State Rankings Report

Source: CBRE Research

Page 9: N SIERRA STREET - LoopNet · WHY RENO? Regarding Tesla’s decision to build a Gigafactory near Reno: “This is not just about incentives. [Nevada is a] really get things done state

1 HRTO SOUTH LAKE TAHOE

C O M M U T E15 MIN

Average Commute

C U L T U R EBURNING MAN

HOT AUGUST NIGHTS

RENO PHILHARMONIC & POPS ORCHESTRA

NEVADA MUSEUM OF ART

AIR RACES

BALLOON RACES

ARTOWN

3 HRSTO THE BAY AREA

O U T D O O R900

Hiking Trails

50 Championship Golf

Courses

PARKS3,819 ACRES

6th BEST SMALL CITY

IN AMERICA Source: Reno Gazette Journal - rgj.com

BIKE FRIENDLYTOP 50

W E A T H E R

Days ofSunshine

300

RENO DRIVE TIMES30 MINS

TO TRUCKEE

OUR QUALITY OF LIFE

Page 10: N SIERRA STREET - LoopNet · WHY RENO? Regarding Tesla’s decision to build a Gigafactory near Reno: “This is not just about incentives. [Nevada is a] really get things done state

F O R A D D I T I O N A L I N F O R M AT I O N , P L E A S E C O N TA C T:

M AT T G R I M E S , C C I M First Vice President LIC. S.0072644+1 775 356 [email protected]

D AV I D W O O D S , C C I M First Vice PresidentLIC. S.0072655+1 775 321 [email protected]

L E A H N A C H A P M A N Sales AssociateLIC. S.0183267+ 1 775 823 [email protected]

© 2020 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. You should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service marks of CBRE, Inc. All other marks displayed on this document are the property of their respective owners. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. PMStudio_February2020