±9.27 ACRE COMMERCIAL DEVELOPMENT SITE

Transcription

1 FOR SALE ±9.27 ACRE COMMERCIAL DEVELOPMENT Red Rock Industrial - 2MM Stead Industrial 14MM RENO/STEAD AIRPORT The North Valls which also includes the Stead Airbase will likely be the recipient of several new manufacturing facilities due to recent legislative action. The favorable incentives and abatements are specifically targeting the aerospace and aviation industries. Stead Blvd. Sage Point Business Park - 1.5MM North Valls Commerce Center 1.4MM LogistiCenter II - 1.6MM North Virginia Street Lemmon Drive North Hills Industrial - 1MM LogistiCenter I - 1.2MM

2 ±9.27 ACRE COMMERCIAL DEVELOPMENT INVESTMENT SUMMARY Offering: ±9.27 acre commercial development site; ±5.5 buildable acres Sale Price: $900,000 Location: APN: North Reno at Silver Lake Road, near the intersection of Red Rock and US Highway (Washoe County) Zoning: CC - Community (60%); OS - Open space (40%) Entitlements: Topography: Utilities: Flood Zone: Fully entitled for a 162-unit indoor RV/boat and self-storage site. The current entitlement expires February (Site plan and proforma financials available upon request.) The site is rectangular in shape and is characterized as relatively flat with the exception of the northwestern portion of the site which will remain undeveloped (OS). Approximately 70% of the site contains slopes in the 0-15% range, and 30% of the site contains slopes in excess of 30%. Silver Lake Road has been extended up to the subject property. Electrical power service and gas is provided by NVEnergy. TMWA provides water service, which will be provided to the project site through a 12-inch water main within Silver Lake Road at the intersection of Red Rock Road. The City of Reno will provide sewer service. The project will connect to an 8 inch sewer line which is 100 from property line in Silver Lake Road. X - Outside of the 100-year floodplain. CONTACT US BRETT EDWARDS Vice President brett.edwards@cbre.com AIMAN NOURSOULTANOVA, CCIM Senior Vice President aiman.noursoultanova@cbre.com

3 ±9.27 ACRE COMMERCIAL DEVELOPMENT PROPERTY SUMMARY The subject property is a ±9.27 acre development site located in the North Valls submarket in Reno, Nevada, which is proving to be one of the fastest growing submarkets locally. The property is ideal for a commercial or a multi-family development and currently fully entitled for a 162-unit indoor RV/boat and self-storage site. The property has tremendous visibility from U.S. Highway 395 and is well-positioned among several million square feet of new industrial development together with numerous new and proposed single family housing communities. Industrial employers in the immediate submarket include Petco, Urban Outfitters, Dupont, GM, Sherwin Williams and JC Penn. The property offers quick access from U.S. Highway 395 and the Red Rock interchange. + + Flexible Zoning: The property s flexible zoning allows for a wide variety of uses. + + Ideal multifamily site: One of the strongest multifamily markets on the West Coast. Year-over-year 9% rental rate increases and historically low vacancy rate over the past 24 months. + + FAA Designated Site: Minutes from the Stead Airbase, one of six FAA UAV designated sites in the US. Numerous new jobs will be forthcoming in the next few years in this multi-billion dollar technology field. + + Excellent Visibility. The property has tremendous visibility from U.S. Highway 395 and has a quick access from the Red Rock interchange. + + Industrial Sector Strength: The Stead Area-North Valls has 5.2 million square feet of new or recently completed construction (among just four developments). Nearby new tenants or expansions include Marmot, Petco, Urban Outfitters, UPS, and Sherwin Williams. + + Strong job growth. Over 5,000 new jobs projected in the North Valls corridor within the next five years. Minutes to University of Nevada, Reno, Truckee Meadows Community College, and the Desert Research Institute

4 ±9.27 ACRE COMMERCIAL DEVELOPMENT PROPOSED RV/BOAT STORAGE PLAN Unit A Detention Pond Unit B - 45 Units Unit C - 66 Units Unit D - 39 Units Unit E - 12 Units Total Units (150) 14x44 units (12) 14x34 units 162 total units *Fully entitled for a 162-unit indoor RV/boat and self-storage site. The current entitlement expires February 2018.

5 ±9.27 ACRE COMMERCIAL DEVELOPMENT ZONING Sixty percent of the property is zoned Community Commercial. The purpose of this district is to provide for general commercial and service enterprises. A few of the featured permitted uses for Community Commercial zoning include: + + Multi-family (SPR Site Plan Review) + + Mini-warehouse + + Medical facility, day use only + + Restaurant with or without alcohol service + + General retail store of commercial use other than listed + + Building and landscape material/lumber yard + + Animal clinic, shelter, hospital, or boarding/kennel + + Auto repair garage and paint and body shop + + Automobile and truck sales and mobile home, RV, boat and trailer sales or rental (SUP) + + Congregate care facility (SUP) + + Drive-through facility + + Motel (SPR, SUP) + + Plant nursery/garden supply + + Single family, attached condominium/townhome (SPR, SUP)

6 ±9.27 ACRE COMMERCIAL DEVELOPMENT NORTH VALLEYS SUBMARKET HIGHLIGHTS + + Major employment center for the growing Reno/Sparks metro area. + + Companies such as GM, Petco, Arrow Electronics, Urban Outfitters, Amazon, Dupont, RR Donnelly, JC Penn, and Mary s Gone Crackers all have facilities in the North Valls which occupy over 18 million square feet. + + More than 2,000 residential units are currently in various stages of development. Lennar, D.R. Horton and Artisan communities have projects in the immediate vicinity to provide adequate housing for employees. + + Future residential build out could be as much as 17,000 new homes, almost doubling the current North Vall s population of 55,641. PARCEL MAP

7 ±9.27 ACRE COMMERCIAL DEVELOPMENT NEW HOUSING PROJECTS AND JOB ACTIVITY MAP RESIDENTIAL PROJECTS Single Family & Multifamily (Proposed & Under Construction) 1 Arroyo Crossing : 236 units 2 Cabernet at the Highlands : 425 units 3 Estancia : 202 units 4 Evans Ranch : 5,556 units 5 Heinz Ranch : 4,200 units 6 North Vall Estates : 252 units 7 Regency Park (Artisan Homes) : 207 units 8 Sierra Vista Village (DiLoreto Homes) : 194 units 9 Silver Hills : 680 units 10 Silver Star Ranch : 1,600 units 11 Stonefield Horizons (Lennar) : 300 units 12 Lansing : 112 units North Peak Apartments : 320 units 13 Affordable Senior Housing Project : 100 units 14 Sky Vista South : 72 units 15 Sierra Grande (DR Horton) : 157 units 16 Prado Ranch : TOTAL SUBMARKET HOUSING UNITS: 17,985 5 N VIRGINIA ST RED ROCK RD Stead Airport LEMMON DR SHOPPING CENTERS & K Retailers 1 Lemmon Vall Shopping Center : 18,884 SF 2 North Hills Shopping Center : 125,306 SF 3 North Valls Shopping Center : 113,733 SF 4 Shops at Lemmon Vall : 80,582 SF 5 Silver Lake Center : 11,506 SF 6 Stead Marketplace : 21,300 SF 7 Stead Plaza : 21,000 SF 8 Three Flags Center : 27,390 SF 9 Vista Hills Shopping Center : 18,630 SF 10 Walmart : 152,230 SF EMPLOYERS* Recently Relocated and Expanded 1 Large Internet Retailer 2 Cascade Designs 3 Exxcel Outdoors 4 Quality Bicycle Products 5 Lasco Valves 6 Mary's Gone Crackers 7 Marmot 8 PetCo 9 Urban Outfitters 10 Tactical Air Support 11 Prado Ranch (proposed) PREDICTED JOBS BY 2019: ±4,932

8 ±9.27 ACRE COMMERCIAL DEVELOPMENT Sage Point Business Park - 1.5MM North Hills Industrial - 1MM Reno Stead Airport LogistiCenter II - 1.6MM North Valls Commerce Center 1.4MM Stead Industrial - 14MM Red Rock Road Red Rock Industrial - 2MM

9 ±9.27 ACRE COMMERCIAL DEVELOPMENT NORTHERN NEVADA REGIONAL MAP Cold S Co Cold Springs p in pr ings ngs g Lemm Le Lemmon mm mon o Vall Val a lle Reno-Stead Airport Spanis Sp Span Spanish issh Sp Springs pri r ng ngss Fern Fe Fernl nle 395 To Lake Tahoe Ski Resorts: Gold Go G olden lld den e Vall Val a le Sun Vall Sun V ll Va ll 445 Reno Technology Park icloud Data Center Sparks 650 WALMART Distribution Center INTERSTATE MccCa M McCa McCarran Carr r an n 80 Distribution Center Reno Ve Verdi erd rdii INTERSTATE 80 Mogu Mo Mogul gull gu (Software) INTERSTATE Reno-Tahoe Int l Airport In 580 Braeburn Capital Licensing INTERSTATE 580 N.com 2015 CBRE, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. All Rights Reserved. Sources: CBRE Mapping Services (877) ; Nielsen, StreetPro, Microsoft Bing. MapFiles\Work2015\4thQtr\ /12/ CBRE, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners