Post on 05-Oct-2020
1000 Sandhill Road | Reno, NV 89521
52,100 SF Free Standing Office Building with Data Center & Warehouse on 2.55 Acre Lot
OWNER USER OR REDEVELOPMENT OPPORTUNITY$6,090,000 / $116.89 PSF
VIEW THE WEBSITE
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1000 Sandhill Road offers both owner/users or developers a two-story building with large, flexible floor plates in the highly desired South Meadows Submarket priced well below replacement cost.
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Key Investment Highlights$6,090,000 | $116.49 PSF | 52,100 SF
• Relatively new construction with modern improvements throughout
• Attractive Building with nicely maintained exterior facade and parking lots
• Central elevator/restrooms on both floors
• Flexible zoning allows for a multitude of office or industrial uses
• Excellent views of surrounding mountains
• 1200amp 3 phase 480/277v single service
• Located in a rapidly expanding commercial and residential area
• Priced well below replacement cost
• Floor plan allows for flexibility in occupancy and tenant mix
• Column spacing 50'
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The OpportunityRedevelopment Owner/User• Opportunity to multi-tenant if desired. Currently being
used by a single tenant
• Variety of size options available on both floors: Entire building could be leased by a single tenant, full floor tenant or the floors could be broken up to accomodate multi-tenant suites
• Limited options available in Reno for larger (12,000+ SF) tenants
• 7,419 SF is shell space with open ceiling and ample natural light provides for an ideal space not available in the market
• Limited availabilty in Reno for 100% vacant owner/user office building of similar size
• Ideal opportunity for a larger owner/user to occupy one or both stories of the building
• The building can alternatively be set up for multiple tenant spaces providing flexibility
• Suitable for a variety of uses including office, R&D, data center, Tech, service companies, or light manufacturing
SANDHILL ROADSANDHILL ROAD
DOUBLE DIAMOND PKW
YDOUBLE DIAM
OND PKWY
NEW DMV DEVELOPMENTNEW DMV DEVELOPMENT
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9' office, 26' warehouse.
Ceilings
3 roll up doors of which 1 is oversized, clean warehouse with natural light, 26' clear height to the second level roof and abundant power.
WarehouseFiber and IT into the building.
Data/Connectivity Concrete tilt-up, built in 2002 with
recent remodels, column spacing 50'.
Building
Full exterior irrigation.
LandscapingBUR white roof.
Roof
Fully fire sprinkerlered.
Fire/Life Safety
1,200amp, 3 phz 480/277v 2 runs of 750MCM 500kva feed.
Power Package unit on the roof circa 2002. Split units for data center circa 2007.
HVAC
±149 parking spaces. 2.86/1,000 SF with possibility to add more spaces on the lot with a reconfiguration of the parking layout.
ParkingOpportunity to create a modern single or multi-tenant work environment.
Design
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5 miles
24 miles/ 27 minutes
24 miles/ 24 minutes
2 miles
Double R Blvd
Double R Blvd
Veterans Pkwy
Veterans Pkwy
Carson Reno Hwy
Carson Reno Hwy S
Meado
ws Pkw
y
S Mea
dows P
kwy
Exceptional South Meadows Location
RENO
SPARKS
Carson City
California
With numerous tech related, gaming, and industrial companies in the area.
659
Long
ley L
n
Long
ley L
nW Huffaker LnW Huffaker Ln
S McCarran BlvdS McCarran Blvd
W Moana LnW Moana Ln
Plumb LnPlumb Ln
Glendale AveGlendale Ave
Reno-Tahoe Reno-Tahoe International International AirportAirport
Downtown Downtown RenoReno
University of University of Nevada, RenoNevada, Reno
Tahoe Reno Tahoe Reno Industrial CenterIndustrial Center
S Rock BlvdS Rock Blvd
Mill StMill St
West 4th St
West 4th St
Mayberry Dr
Mayberry Dr
Skyli
ne B
lvd
Skyli
ne B
lvdAiway Dr
Aiway Dr
Lake
side
Dr
Lake
side
Dr
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Future occupants will have an opportunity to create a space that will best serve its brand and use.
Current breakdown of space:
*Disclaimer: These are not guaranteed. Buyer is advised to complete own measurements to confirm square footage.
Current Layout
Entire Building52,100SF1
Finished Office Space on Floors 1 & 229,933SF
2
Floor 1Office Space 15,061SF
Data Center 7,408SF
Warehouse 7,340SF
Total 29,809SF
3
Floor 2Office Space 14,872SF
Shell Space 7,419SF
Total 22,291SF
4
2nd Floor
1st Floor
3
1
42
2
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1st floor29,809SF 2nd floor
22,291SF
Data Center±7,408 SF
Warehouse±7,340 SF
Office Space±15,061 SF Office Space
±14,872 SF
Shell Office Space±7,419 SF
Open to Warehouse
Roll Up Doors
*Do not rely on for accuracy. Confirm square feet.
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Customization Ability to retrofit non-office areas
Data Center/Lab ±7,408SF
Amenities Outdoor eating area and building
on walking trail
Replacement Cost Well below replacement cost
Shell Office ±7,419SF ready for improvements
Warehouse ±7,340SF warehouse with 3 roll up
doors
Build Out ±29,933SF of built out office on
2 floors
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Exceptional location surrounded by tech & gaming and across from new DMV
Easy access to I-580. Easy in/out surface parking.
High visibility, 2.55 acre setting with full building identity.
Zoning South Meadows PUD. Well maintained building
Business friendly city in a region that embraces commerce and low tax economy. Located in growing area with nearby development.
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SOUTH VIRGINIA STREET
MCCARRAN BOULEVARD
DOUBLE R BOULEVARD
NEIL ROAD
RENO TAHOE INTERNATIONAL AIRPORT
3.2 MILES8 MINUTES FROM SITE
DOWNTOWN RENO6.6 MILES
10 MINUTES FROM SITE
SOUTH VIRGINIA STREET
MCCARRAN BOULEVARD
DOUBLE R BOULEVARD
NEIL ROAD
RENO TAHOE INTERNATIONAL AIRPORT
3.2 MILES8 MINUTES FROM SITE
DOWNTOWN RENO6.6 MILES
10 MINUTES FROM SITESouth Meadows Market OverviewIndustrial
Key Tenants: Employers Insurance, Grand Rounds, Renown South/Hometown Health
Key Tenants: Barnes and Noble, Fedex, US Foods, Arrow Electronics, Zazzle
Office
Vacancy3.1%
Vacancy9.4%
Asking Rent$0.50/PSF NNN
Asking Rent$1.83/PSF FSG
Net Absorption2,116,838 SF
Submarket Size10,847,275 SF
Submarket Size1,479,252 SF
Net Absorption46,345 SF
New Completions517,918 SF
New Completions0 SF10
00 S
andh
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SOUTH VIRGINIA STREET
MCCARRAN BOULEVARD
DOUBLE R BOULEVARD
NEIL ROAD
RENO TAHOE INTERNATIONAL AIRPORT
3.2 MILES8 MINUTES FROM SITE
DOWNTOWN RENO6.6 MILES
10 MINUTES FROM SITE
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Market OverviewThe Greater Reno-Tahoe's Business and Economic Climate is Experiencing a Major Boom and the Ramifications Are Far Reaching
RENO
Companies That Have Relocated to Reno/Sparks
As the announcements of large and recognizable companies that are moving to the area are publicized, businesses, investors and developers from all over the country are rushing to jump on the bandwagon. Companies are finding that the ease of doing business, coupled with favorable taxes and incentives, is creating an unparalleled motivation for business leaders to focus on Northern Nevada.
In fact, Nevada was ranked number 1 for inbound moves for 2018 according Atlas Van Lines study. With the area including major cities such as Reno, Sparks, Carson City, and Incline Village, there is plenty of room for expansion. With the benefits of Nevada’s low tax on businesses - and a satisfying quality of life, it’s a wonder why a business or developer would choose anywhere else. The region’s optimal location to San Francisco, Portland, Salt Lake City, Las Vegas, and Los Angeles all within a day’s drive is just another added benefit.
With Nevada having the third most business-friendly tax structures in the country, it opened up many possibilities for out-of-state companies to locate facilities here, including Google, Tesla, Switch, Apple, and most recent newcomer, Blockchain.
Blockchain recently purchased 67,125 acres in the Tahoe Reno Industrial Center for their new corporate headquarters and software design research center.
Google also purchased 1,210 acres of land in TRIC, making both of them neighbors with Tesla and Switch.
Tesla Motors also invested in Nevada and is currently building the world’s largest lithium ion battery factory that is scheduled to have a 5.8 million square foot footprint, with 1.9 million square feet already built. This $5 billion lithium battery plant has employed 8,600 people and provided 16,000 indirect jobs within the last few years.
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Northern Nevada Economy OverviewNevada Operating Advantage
Top 30 Mid-Size Cities | Reno #1
Top 100 Leading Locations | Reno #9
Top 20 Least Expensive Cities to Do Business
No. 9 Best State for Business
No. 1 in the Small Business Policy Index
Top 50 Best Places to Live
No. 5 Best Business Tax Climate
Named Among 10 Most Entrepreneurial States
NewGeography.com AreaDevelopment.com
Kosmont-Rose Institute Cost of Doing Business Survey
Chief Executive Magazine
Small Business and Entrepreneurship Council
Livability.com
Business Tax Climate Index by Tax Foundation
Kauffman Index of Entrepreneurial Activity
Tax Advantage
Helpful Links
Quality of Advantages
» One day drive time to seven states and over 60,000,000 people » Strategic location – central among the 11 western states » Over 80 million SF of industrial space in Reno/Sparks market » State incentives available » Strong interest in the area from distributors and manufacturers » Advantageous business climate, taxes, and regulations
» NO corporate income tax » NO personal income tax » NO franchise tax » NO unitary tax » NO inventory tax » NO inheritance tax » NO estate tax
» Economic Development Authority of Western Nevada
» City of Reno » City of Sparks » State Department of Taxation
» Governor's Office of Economic Development
» Nevada Department of Business Industry
» Regional Transportation Commission
» Affordable living costs » Emerging new downtown » Strong sense of community » Four vibrant seasons » Endless recreation
opportunities » A balanced life pace
Switch, the Las Vegas based tech company, plans to invest billions in a projected 8 million square foot data center. The first building in the Switch Campus recently opened its doors and became the world’s largest single data center, measuring 1.3 million square feet.
Apple also chose Reno to invest over $2 billion for their massive iCloud data facility. They will also be building a 27,000 square foot shipping warehouse in downtown Reno. Apple is expected to generate 100 employees and 300 construction jobs from the warehouse, on top of the current 717 established employees in Nevada.
Amazon moved one of their distribution warehouses into a 680,000 square foot e-commerce, high clearance building that employs 600 associates.
Cenntro Automotive, an electric vehicle manufacturer, also opened their new headquarter in an 80,000 square foot building in Sparks.
Microsoft moved its licensing office here in 1997 and is one of the only three Microsoft Regional Operation Centers in the world.
How Reno Ranks Nationally
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To learn more or schedule a tour, contact:
MELISSA MOLYNEAUX SIOR, CCIM
Executive Vice President+1 775 762 7990melissa.molyneaux@colliers.comNV. Lic. BS. 0144599
1000 Sandhill Road | Reno, NV 89521
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