2016 Sales Report - Colliers International · 2016 Sales Report RENO, NV | OFFICE NOTABLE...

Building MomentumAnother year has passed and that means it is time to provide a report of the 2016 Office Sales in Reno/Sparks, Nevada. At the end of the report, we have provided an overview of every office building sale in 2016. To the best of our ability, we have categorized the sales by owner-user and investments due to these being the two distinct buyer groups in Northern Nevada. There were a total of 40 investment sales and 36 owner-user sales for 2016. We have provided additional commentary on notable investment and owner-user sales in the report. While we strive to attain the most up to date and accurate information for sale type, we cannot guarantee its full accuracy.

Despite the decrease in sales of office buildings over 40,000 square feet since 2015, the office sales market saw decreasing cap rates and a number of significant sales with prices continuing to increase. Numerous sales in recent years of owner-user buildings under 10,000 square feet, has led to a decreased inventory of smaller office buildings. For this reason our market may see an increase in new development throughout various submarkets including: Northwest Reno, Meadowood, and South Meadows.

2016 Sales Report

RENO, NV | OFFICE

NOTABLE INVESTMENT SALES

1005 Terminal Way, Reno

> 38,456 SF

> Sold 12/31/16 for $4,250,000

> $110.52 PSF

> 83% occupied at the time of sale

> Was a value-add investment so the Cap Rate on actual was 5.3%

> Colliers represented the Seller

> 40,336 SF

> Sold 9/12/2016 for $2,850,000

> $70.65 PSF

> 6% Cap Rate

> Sold to Cypress Meadowood LLC

> 33,072 SF

> Sold 7/22/2016 for $6,250,000

> $188.98 PSF

> 6.7% Cap Rate

> 96.4% leased at time of sale

> Purchased by Mf Farming Co

Pricing for both investment and owner-user sales increasing

Decrease of cap rates

Garden office construction on

the horizon

Less buildings over 40,000 square feet sold than

previous years

TOP SALES TRENDS IN 2016

See page 5 of this report for a chart of the arm’s length office sales transactions that took place in Reno/Sparks in 2016.

www.colliers.com/reno1 | 2016 Reno/Sparks Office Sales Report

639 Isbell Road, Reno

6121 Lakeside Drive, Reno

https://www.facebook.com/Colliers-International-Reno-144268205645750/

https://twitter.com/colliers_reno

Investment Sales

One trend that the market saw in 2016 was buildings being purchased before the recession as value-add properties and being sold as occupied investments. Our research suggests that the market has stabilized and these value-add projects have begun or will begin to see increased returns. A couple of examples include 639 Isbell Road, which was sold at a 5.3% cap rate, and 6121 Lakeside Drive, which was sold at a 6.7% cap rate. Both properties were recently upgraded, stabilized, and traded for strong cap rates. The US Bank Building, at 1 E Liberty Street, in downtown Reno was on the market as a fully leased investment. The building has since sold in the first quarter of 2017, also demonstrating a successful value-add investment project.

Owner-User Sales

There were a number of significant sales to owner-users in 2016. In most cases for buildings over 10,000 square feet, the user would purchase the property but only occupy a portion of the building, making the vacant space an investment opportunity. This was the case in buildings such as 9480 Double Diamond Parkway where the owner, Great Basin Orthopedics, bought the building and will occupy a majority of the space, while the rest of the building will be used as an investment. This was the case in all of the listed notable owner-user sales with the exception of 5060 Meadowood Mall Circle and 8565 Double R Boulevard, which were 100% occupied by the purchaser.

Construction

With sale prices increasing and vacancy decreasing, now is a great time for a value-add purchase, in addition to new construction. We anticipate new garden office construction as options for small users to meet the demand for product in this size range since there is currently a lack of inventory. An example of this has been Monte Vista Business Park, located at 4th Street and McCarran Boulevard in Northwest Reno. Consisting of multiple land parcels available for sale, this park has seen significant sales activity throughout 2016. The planning and construction phase is currently underway for these recently transacted parcels. One pad is already in construction for a 3,000 square foot building for the Federal Water Master. Currently, there is activity on three more parcels in addition to the two that have already been sold.

Additionally, a 20,760 square foot build-to-suit building was completed in 2016 for Wood Rodgers at 1361 Corporate Boulevard.

We hope that this report in addition to the comprehensive list of sales below is found by many to be a valuable resource to understanding the Reno-Sparks office market. Should you need any specific information on any sale, please feel free to reach out.

A special thank you to Julie Ott, MAI and Greg McKay for their assistance in writing this report, as well as Monique Orr, Matthew Weare, Fay O’Neil, and Landon Gonzalez of Colliers International for their assistance in the preparation of the data and layout.

1201 Corporate Boulevard, Reno> 20,000 SF

> Sold 7/20/2016 for $2,519,000

> $126 PSF

> 6.6% Cap Rate

> Was 75.7% leased at time of Sale

> Purchased by Honor Those Who Serve LLC

1000 Bible Way, Reno> 19,220 SF

> Sold 10/03/2016 for $1,050,000

> $54 PSF

> 9% Cap Rate

> Purchased by Critchfield Declaration Trust

NOTABLE INVESTMENT SALES (Continued)

2 | 2016 Reno/Sparks Office Sales Report

10 State Street, Reno> 18,883 SF

> Sold on 1/21/2016 for $1,380,000

> $69 PSF

> Property was 75% vacant at close of escrow

> Purchased by Ten State Street LLC

Ribeiro Portfolio Sale, Reno> Total Square Feet: 24,841

> Total Price: $4,100,000

> $165.05 PSF (Combined buildings)

> 3 properties

> 6144, 6160 Mae Anne Ave & 1635 Robb Dr

> Sold to Vicks Investment LLC

NOTABLE OWNER USER SALESNew Construction Completed in 2016

> Dr. Patterson – 7,190 sf Address: 5578 Longley Lane, Reno, NV 89511

> Farr West Engineering – 11,500 sf Address: 5510 Longley Lane, Reno, NV 89511

> Tanamera Construction – 15,316 sf Address: 5560 Longley Lane, Reno, NV 89511

> Wood Rodgers – 20,760 sf Address: 1361 Corporate Boulevard, Reno, NV 89502

2016 Reno/Sparks Office Sales Report | 3

9480 Double Diamond Parkway, Reno> 32,630 SF

> Sold on 5/19/2016 for $4,575,000

> $140 PSF

> Purchased by GBO Properties LLC (Great Basin Orthopedics)

> At time of sale, building was 30% leased to one tenant on a 7 year lease

> Great Basin Orthopedics will occupy a majority of the space

9650 Gateway Drive, Reno> 30,536 SF

> Sold on 10/27/2016 for $3,425,000

> $112 PSF

> Purchased by Gateway Realty Holdings LLC

1535 Los Altos Parkway, Reno> 26,982 SF

> Sold 3/7/2016 for $2,100,000

> $78 PSF

> Purchased by Eagle Fitness Inc

1595 Meadow Wood Lane, Reno> 26,740 SF

> Sold 7/1/2016 for $3,100,000

> $115.93 PSF

> Purchased by tenant of the building

> Colliers represented Buyer

9590 Prototype Court, Reno> 13,682 SF

> Sold on 3/9/2016 for $2,000,000

> $146.18 PSF

> Bought by 9590 Prototype Holdings LLC

> Colliers represented Seller

OFFICE BUILDINGS FINANCED USING THE SBA 504 LOAN PROGRAM IN RENO/SPARKS

2013 2014 2015 2016

3 6

*ACCORDING TO NSDC

97

WESTRENO

DOWTOWN

SPARKS

MEADOWOOD

CENTRAL/AIRPORT

SOUTH RENO

80

80

395

395

Monte Vista Village

Rancharrah

Mountain View Corporate Center

Park Lane

Double Diamond

Mt. Rose

SOUTH RENO

POSSIBLE NEW CONSTRUCTION

GREATER RENO-SPARKS STATISTICS


2016 Total Population 430,6442021 Total Population 459,1242016 Total Daytime Population 433,1132016 Households 164,3802016 Average Household Size 2.59Males 217,295Females 213,349Housing Unit Summary2016 Housing Units 180,666Owner Occupied Housing Units 49.3%Renter Occupied Housing Units 41.7%Vacant Housing Units 9%2016 Households by IncomeHousehold Income Base 164,375<$15,000 12.2%$15,000 - $24,999 11.1%$25,000 - $34,999 11%$35,000 - $49,999 13.8%$50,000 - $74,999 18.3%$75,000 - $99,999 13.1%$100,000 - $149,999 13.2%$150,000 - $199,999 3.8%$200,000+ 3.6%Average Household Income $70,0042016 Population 25+ by Educational AttainmentTotal 228,731Less than 9th Grade 5.9%9th - 12th Grade, No Diploma 7.3%High School Graduate 20.3%GED/Alternative Credential 4%Some College, No Degree 26.3%Associate Degree 8.1%Bachelor's Degree 18%Graduate/Professional Degree 10.2%2016 Employed Population 16+ by OccupationTotal 209,776White Collar 60%Management/Business/Financial 13.8%Professional 18.5%Sales 12.2%Administrative Support 15.6%Services 21.7%Blue Collar 18.3%Farming/Forestry/Fishing 0.1%Construction/Extraction 4.2%Installation/Maintenance/Repair 2.9%Production 4%Transportation/Material Moving 7.1%

Source: 2017 esri

NOTABLE OWNER USER SALES (Continued)

590 Double Eagle Boulevard, Reno> 13,440 SF

> Sold on 1/8/2016 for $2,400,000

> $178.57 PSF

> Purchased by Pasha Group who was tenant in building for 10 years

> Colliers represented Seller

5060 Meadowood Mall Circle, Reno> 9,712 SF

> Sold on 9/29/2016 for $1,100,000

> $113.26 PSF

> Renew MD purchased and occupied property

> Distressed asset

> Major remodel done by Tenant

> Colliers represented Seller and Buyer

8565 Double R Boulevard, Reno> 8,219 SF

> Sold on 5/13/2016 for $1,230,000

> $149.65 PSF

> Purchased by Totally Legitimate Business LLC

> Colliers represented Buyer

Source: NSDC


The information furnished has been obtained from sources we deem reliable and is submitted subject to errors, omissions, and changes. Although Colliers International has no

reason to doubt its accuracy, we do not guarantee it. All information should be verified by the recipient prior to lease, purchase, exchange, or execution of legal documents.

DEAL

DEAL

2016 Year End Northern Nevada (Reno & Sparks) Office Sales ReportAddress Sale

DateSale Price

Price Per SF

Year Built

Bldg SF Acres Owner/

Buyer Seller Stories Zoning Investment or owner-user Comments

590 DOUBLE EAGLE CT 01/08/2016 $2,400,000.00 $179 1997 13,440 1.000 PASHA5 LLC MOUNTAIN HIGH

INVESTMENTS LLC 1 PUD Owner User 7.5% Cap Rate

63 KEYSTONE AVE 01/15/2016 $725,000.00 $84 1972 8,660 0.469

69 KEYSTONE PARTNERS

LLC3KC, LLC 2 PO Investment 0% leased at time of sale. Buyer did major remodel and reposition.

4990 VISTA BLVD 01/15/2016 $970,000.00 $173 2015 5,594 0.080 VISTA 2015 LLC STANDING STONE LLC 2 C2 Investment

10 STATE ST 01/21/2016 $1,380,000.00 $73 1950 18,883 0.115 TEN STATE STREET LLC ARCHOSAUR III LLC 4 MUDR Investment Purchased for remodel and reposition.

9492 DOUBLE R BLVD BLDG A 01/21/2016 $399,000.00 $162 2001 2,469 0.074 CLEAR LAKE

HOLDINGS LLCWELLS FARGO BANK

NA 1 PUD Owner User

9492 DOUBLE R BLVD BLDG B 02/02/2016 $370,000.00 $150 2001 2,472 0.077

BLUEJAY ENTERPRISES

LLC

LEMAY PROPERTIES LLC 1 PUD unknown

5578 LONGLEY LN 02/03/2016 $1,559,124.00 $217 2015 7,187 0.189

NAPS PROPERTIES

LLC

LONGLEY PROFESSIONAL

CAMPUS LL1 GO Owner User

9080 DOUBLE DIAMOND PKWY 02/05/2016 $340,000.00 $52 2005 6,497 0.081

NORTH RENO LAND

DEVELOPMENT LLC

MORRISON PROPERTY INVESTMENTS LLC 2 PUD Investment Portfolio 3 Condo Sale: $32.17 psf Units B, C, and D included. Shell

space.

6120 MAE ANNE AVE 02/17/2016 $285,000.00 $131 2005 2,175 0.055 6120 MAE

ANNE LLC JONES, CHRISTIAN 1 NC Owner User 0% leased at sale

761 GREENBRAE DR 02/26/2016 $475,000.00 $112 1959 4,235 0.450 BARCOMB

TRUST, CATHY FRY, HARRY C 1 C2 Owner User Tenant is Dr. Harry C. Fry DDS

900 RYLAND ST 02/29/2016 $560,000.00 $126 1979 4,451 0.509 GARRETT GROUP LLC

CAPURRO LIVING TRUST 1 MUWM Owner User

501 HAMMILL LN 03/02/2016 $890,000.00 $197 1998 4,515 0.724 RJ & CS LLC JENKINS HOLDING COMPANY LLC 1 PO Investment 100% leased at sale

5480 RENO CORPORATE DR 03/04/2016 $1,150,000.00 $193 2005 5,952 0.168

HURRICANE HOLDINGS GROUP LLC

BARRETT LYNN LLC 1 GO Investment 7% Cap Rate

1535 LOS ALTOS PKWY 03/07/2016 $2,100,000.00 $78 2007 26,982 3.183 EAGLE

FITNESS INCDIGESTIVE HEALTH

INVEST N LLC 1 C1 Owner User

9590 PROTOTYPE CT 03/09/2016 $2,000,000.00 $146 1998 13,682 1.032

9590 PROTOTYPE

HOLDINGS LLC

SIERRA INVESTMENTS ASSOC LLC 1 PUD Owner User

800 HASKELL ST 03/18/2016 $1,537,500.00 $92 1958 16,800 0.321 ONE LION GROUP LLC

CENTER FOR UNIQUE BUSINESS

ENTERPRISES2 MUSV Investment

718 S CENTER ST 03/21/2016 $373,000.00 $214 1915 1,739 0.161LEACH,

REXANA E et al

IRWIN FAMILY TRUST, HARRY & NANCY 1.5 MUSV Investment 100% leased at sale

5595 KIETZKE LN 03/31/2016 $1,800,000.00 $167 2005 10,752 1.077

MCKENZIE CAPITAL

PARTNERS LLC

MOUNTAINVIEW CORP CENTRE LLC 1 SPD Investment

1023 ROCK BLVD 04/01/2016 $425,000.00 $86 1970 4,950 0.420PICCININI

PROPERTIES LLC

ROCK-ODDIE PLAZA LLC 1 MUD Investment Retail/Office.


Address Sale Date

Sale Price

Price Per SF

Year Built



540 W PLUMB LN 04/08/2016 $450,000.00 $210 2004 2,144 0.049BBK

ENTERPRISES LLC

LIAL ENTERPRISE LLC 1 SPD Owner User

5482 LONGLEY LN 04/08/2016 $380,000.00 $186 2006 2,048 0.067

CHILSON, LOREN E & STACEY L

MASON TRUST, JON & NORENE 1 IC Owner User

9408 DOUBLE R BLVD 04/20/2016 $645,000.00 $257 2000 2,508 0.081 RIGHETTI

PARTNERS LP DBB HOLDINGS, INC 1 PUD Investment 6.5% Cap Rate.

2450 VASSAR ST 04/29/2016 $620,000.00 $159 2005 3,906 0.339 GOLO VASSAR LLC PENDRELL, CHARLIE 1 IC Owner User

1071 HASKELL ST 05/02/2016 $275,000.00 $193 1929 1,426 0.123 GNA HOLDINGS LLC

COUNSELING & EDUCATIONAL , SEVICES LLC

1 MUSV Owner User Tenant is US Geometrics.

8885 TERABYTE CT 05/03/2016 $255,000.00 $85 2008 3,000 0.319

8885 TERABYTE COURT LLC

ELLIS, DON B & MELBA J 1 PUD unknown Building was shell only upon sale

3701 BAKER LN 05/05/2016 $975,000.00 $140 1987 6,967 0.297HURRICANE HOLDINGS GROUP LLC

AHLSTROM-STOKER 2 NC Investment 100% leased at sale.

6410 S VIRGINIA ST 05/06/2016 $2,100,000.00 $324 1994 6,482 1.145 M-TERRACE

LLC et alDIEFENDERFER TRUST,

GARY R 1 MUSV Investment Tenant is Concentra Urgent Care

4854 SPARKS BLVD 05/12/2016 $522,200.00 $178 2006 2,940 0.076

GRAHAM TRUST, DOUG

& MERRILYTAG VINEYARD LLC 1 C2 Investment

8565 DOUBLE R BLVD 05/13/2016 $1,230,000.00 $150 2005 8,219 0.449

TOTALLY LEGITIMATE

BUSINESS LLCRENO PARTNERS LLC 1 IC Owner User

9444 DOUBLE R BLVD 05/17/2016 $716,683.00 $202 2000 3,544 0.108

PSG RESOURCES

LLC

DOUBLE DIAMOND PROF BLDG LLC 1 PUD Investment Single tenant. 6.4% Cap Rate

9480 DOUBLE DIAMOND PKWY 05/19/2016 $4,575,000.00 $140 2004 32,630 2.158

GBO PROPERTIES

LLCEIG1 LLC 2 PUD Owner User

615 S ARLINGTON AVE 05/19/2016 $387,500.00 $268 1940 1,448 0.149

HALSTEAD STANFORD

LLCMERHAR, DEBORAH J 1 MF30 unknown

518 PYRAMID WAY 05/20/2016 $375,000.00 $116 1927 3,238 0.164 ZELLER,

RYAN PAMERICAN PROPERTY

EXCHANGE INC 1 MUD Owner User

9855 DOUBLE R BLVD 05/23/2016 $2,090,000.00 $165 1999 12,661 1.101 RIGHETTI

PARTNERS LP CHILKUR LLC 2 PUD Investment 7% Cap Rate

821 RYLAND ST 05/27/2016 $300,000.00 $102 1959 2,939 0.178

PRESTIGE PRIMARY

PROVIDERS LLC

COWRAM LLC 1 MUWM Owner User Tenant is Timothy Scott Osborne

809 S CENTER ST 06/30/2016 $380,000.00 $365 1902 1,042 0.161 BONNETTE,

SADIE RFEGAN, MICHAEL S &

THERESA M 1 MUSV unknown

1595 MEADOW WOOD LN 07/01/2016 $3,100,000.00 $116 1991 26,740 2.000

1595 MEADOW WOOD LANE

LLC

QUALITY HOLDINGS INC 1 MUCC Owner User



2016 Year End Northern Nevada (Reno & Sparks) Office Sales Report

DEAL

DEAL

DEAL



DateSale Price

Price Per SF

Year Built



1040 EL RANCHO DR 07/01/2016 $350,000.00 $100 1987 3,504 0.209

SPARKS LAUNDRY ACQ

LLC

PATRICIA A SCHWEIGERT LLC 1 PO Owner User

634 W 2ND ST 07/07/2016 $523,800.00 $244 1925 2,143 0.083 4 WHITE STARS LLC JAURON FAMILY LLC 2 MUDR Owner User Tenant is Richard Daides, Attorney at Law

855 MAESTRO DR 07/15/2016 $800,000.00 $130 2007 6,151 0.140

RAND CAPITAL INVESTMENTS

LLC

DENNIS BANKS & ART HINCKLEY 1 IC Owner User 1,056 sf leased at sale

8725 TECHNOLOGY WAY

07/15/2016 $979,184.00 $177 2006 7,524 0.128 GOLO LLC RENO LAND & CATTLE LLC 1 PUD Investment 2 parcels, 7% Cap Rate. 32.1% leased at sale

675 HOLCOMB AVE 07/15/2016 $755,000.00 $190 1986 3,980 0.142 542 PLUMAS

LLCHUGGINS

ENTERPRISES LLC 2 MUSV Owner User 1031 Exchange

1201 CORPORATE BLVD 07/20/2016 $2,519,000.00 $126 1984 20,000 2.170

HONOR THOSE WHO SERVE

LLCDIVINE ROCK LLC 1 IB Investment 6.6% Cap Rate. 75.7% leased at sale

644 S WELLS AVE 07/20/2016 $371,000.00 $281 1926 1,321 0.252 NTJ LIMITED

LLCBERG, DALE G &

LINDA L 1 CC Owner User

6121 LAKESIDE DR 07/22/2016 $6,250,000.00 $189 1984 33,072 2.000 MJC NEVADA

LLC 6121 LAKESIDE LLC 2 SPD Investment 6.7% Cap Rate. 96.4% leased at time of sale

400 MILL ST 07/22/2016 $1,050,000.00 $95 1955 11,000 0.367 ATOMIK CITY LLC URBANITO LLC 2 MUDR Investment

10583 DOUBLE R BLVD 07/27/2016 $1,000,000.00 $285 2004 3,506 0.123

JKN LLC 300 KRESGE

SERIES

TRACAL INVESTMENTS LLC 1 PUD Owner User Tenant is South Meadows Vision Source

333 W MOANA LN 07/29/2016 $642,500.00 $105 1973 6,095 0.317 PLACER WOLF

LLCFAIR CO PROPERTIES

LTD 1 MUSV Owner User

10789 DOUBLE R BLVD 08/01/2016 $441,840.00 $210 2013 2,106 0.057

MARTIN FAMILY TRUST

et al

RTTC TOWN CENTER LLC 1 PUD Investment 7% Cap Rate

6476 BONDE LN 08/01/2016 $1,650,000.00 $240.11 1988 6,872 2.499 APRES LLC 6474 BONDE LANE TRUST 1 HDR unknown Veterinary Facility w/ Acreage and outbuildings.

4599 LONGLEY LN 08/02/2016 $1,357,000.00 $286 2003 4,739 0.102

INVENIT HOLDINGS NV

LLCAUGUSTA PLACE I LLC 1 IC Investment

636 EUREKA AVE 08/08/2016 $225,000.00 $201 1920 1,120 0.172 GROVES HOLDINGS LLC

ACTION ENTERPRISES PARTNERSHIP 1 MUDR unknown

3605 GRANT DR 08/11/2016 $1,400,000.00 $195 1979 7,194 1.080JL & BC

PROPERTIES LLC

MALLARD COMPANY 1 PO Owner User

16520 WEDGE PKWY 08/11/2016 $310,000.00 $200 2004 1,548 0.049

MITCHELL, FAMILY TRUST,

ROBERT & CAROLYN

HOLMAN FAMILY TRUST 1 NC unknown

12 W TAYLOR ST 08/11/2016 $210,000.00 $255 1926 824 0.092HILLCREST

MANAGEMENT COMPANY LLC

RANKINE, DAVID 1 MUSV unknown





DateSale Price

Price Per SF

Year Built



7300 S VIRGINIA ST 08/24/2016 $3,149,929.00 $285 2006 11,040 1.275 GREER 7300 S

VIRGINIA LLC7300 S VIRGINIA

STREET LLC 1 MUSV Investment

1111 FOREST ST 08/24/2016 $432,000.00 $135 1977 3,200 0.223

BONANZA REPORTING

& VIDEO CONFERENCE

CENTER

1111 FOREST STREET LLC 1 MUSV unknown

6774 S MCCARRAN BLVD 08/26/2016 $1,548,541.00 $161 2002 9,600 0.110

6774 MCCARRAN

LLC

QUAIL COURT-RIBEIRO MORENO LLC 2 PO Investment

6630 S MCCARRAN BLVD 08/26/2016 $8,307,939.00 $218 1998 38,075 2.180

6630-C MCCARRAN

LLCQUAIL MEDICAL III LLC 2 GO Investment

95 LA RUE AVE 08/29/2016 $435,000.00 $201 2002 2,162 0.117 GERKEN POINT LOMA LLC

LEGACY MEADOWS LLC 2 MUSV Owner User

6630 S MCCARRAN BLVD 08/30/2016 $5,459,014.00 $243 1996 22,436 2.111

6630-A MCCARRAN

LLCQUAIL MEDICAL I LLC 1 GO Investment

6880 S MCCARRAN BLVD 08/30/2016 $4,581,461.00 $209 1995 21,876 2.911

LUZON INVESTORS

LLCSIERRA QUAIL LLC 1 GO Investment

4871 SUMMIT RIDGE DR 08/30/2016 $1,900,000.00 $380 2005 5,000 1.030

DAN ADAM PROPERTIES

LLCOUTRIDER LLC 1 CC Investment 5.05% Cap Rate. Leased to VCA Animal Hospital

Portfolio Sale Total SF: 6,372 Total Price: $1,135,000

136 RIDGE ST 08/31/2016 $1,135,000.00 $178.12 1916 3,112 0.071JAVELIN

PROPERTIES LLC

NEUMANN FAMILY TRUST 2.5 MUDR Investment 6.8% Cap Rate. 100% leased at time of sale.

150 RIDGE ST 08/31/2016 $1,135,000.00 $178.12 1916 3,260 0.074JAVELIN

PROPERTIES LLC

NEUMANN FAMILY TRUST 2.5 MUDR Investment 6.8% Cap Rate. 100% leased at time of sale.

4864 SPARKS BLVD #100 08/31/2016 $674,016.00 $227 2006 2,972 0.078

VELOCITY VENTURES GROUP LLC

TAG VINEYARD LLC 1 C2 Owner User

4864 SPARKS BLVD #102 08/31/2016 $674,016.00 $229 2006 2,940 0.076

VELOCITY VENTURES GROUP LLC

TAG VINEYARD LLC 1 C2 Owner User

2255 GREEN VISTA DR 09/01/2016 $280,000.00 $140 1996 2,000 0.044

GHUMMAN, KULDEEP S & RAJVINDER K

JUNTA, CAROLYN M 1 PD Owner User

6630 S MCCARRAN BLVD 09/09/2016 $4,293,116.00 $219 1997 19,641 1.875

6630-B MCCARRAN

LLCQUAIL MEDICAL II LLC 1 GO Investment

1005 TERMINAL WAY 09/12/2016 $2,850,000.00 $71 1974 40,336 2.240

CYPRESS MEADOWOOD

LLC

CONNOR, DALE R II & SUSAN L 2 MURL Investment 6.00% Cap Rate

6170 RIDGEVIEW CT 09/15/2016 $172,000.00 $186 1996 924 0.021 EQUITY TRUST

COMPANYCHILSON, LOREN E &

STACEY L 1 PO Investment 0% leased at time of sale

DEAL

DEAL





DateSale Price

Price Per SF

Year Built



3725 LAKESIDE DR 09/16/2016 $1,025,000.00 $236 2005 4,338 0.096

STOCKLMEIR TRUST, ALAN

et alTBC I LLC 1 PO Investment Cap rate 6.5%. Tenant is Dr. Alan Toplan LED Jul 2018

2115 GREEN VISTA DR 09/16/2016 $270,000.00 $136 1996 1,983 0.044

MARIO MURILLO

MINISTRIES

FLEMING FAMILY TRUST, GLENN E &

SANDRA L1 PD Owner User

5060 MEADOWOOD MALL CIR

09/29/2016 $1,100,000.00 $113 1983 9,712 0.751

MEADOWOOD COMMERCIAL PROPERTIES

LLC

UMPQUA BANK 1 MUCC Owner User Renew MD purchased & occupied. Major remodel done by Tenant. Distressed asset. Bank REO

1000 BIBLE WAY 10/03/2016 $1,050,000.00 $54 1973 19,220 1.460

CRITCHFIELD DECLARATION

TRUST, WILLIAM A & CYNTHIA A

ING TESTAMENTARY TRUST, JOHN Y 1 IC Investment 9% Cap Rate

6165 RIDGEVIEW CT 10/03/2016 $210,000.00 $194 1996 1,080 0.025

PROVIDENT TRUST GROUP

LLC

WILSON/WRAY FAMILY TRUST 1 PO Owner User

Portfolio Sale Total SF: 24,841 Total Price: $4,100,000.00

6144 MAE ANNE AVE 10/06/2016 $4,100,000.00 $165.05 2005 8,755 0.20

VICKS INVESTMENT

LLC

STONE VALLEY DRIVE LLC 1 NC Investment

Part of 3 property portfolio sale. 1635 Robb Drive was a part of this portfolio sale but has been excluded from this report due to its Retail asset class. 8% Portfolio Cap Rate.

6160 MAE ANNE AVE 10/06/2016 $4,100,000.00 $165.05 2005 3,188 0.082

VICKS INVESTMENT

LLC

STONE VALLEY DRIVE LLC 1 NC Investment

1635 ROBB DR 10/06/2016 $4,100,000.00 $165.05 2005 4,757 0.012VICKS

INVESTMENT LLC

STONE VALLEY DRIVE LLC 1 NC Investment Retail property

126 RIDGE ST 10/21/2016 $350,000.00 $151 1932 2,318 0.129JAVELIN

PROPERTIES LLC

DNS SECOND FAMILY LIMITED PTSP 2 MUDR unknown

9650 GATEWAY DR 10/27/2016 $3,425,000.00 $112 1999 30,536 1.017

GATEWAY REALTY

HOLDINGS LLC

TARAZI, MUNAH F & ROLA M 2 PUD Owner User

500 W PLUMB LN 10/31/2016 $475,000.00 $224 2003 2,116 0.161AURORA

PROPERTIES LLC

MENTZER FAMILY TRUST, STANLEY &

MARIA1 SPD Investment 6% Cap Rate. 100% leased at sale. Tenant was Allstate Insurance

445 S VIRGINIA ST 11/10/2016 $4,550,000.00 $262 1942 17,355 1.154 ESRNEV3 LLC MASSIE FAMILY TRUST 1 MUDR Investment Occupied by Living Stones Church

707 PYRAMID WAY 11/10/2016 $230,000.00 $140 1938 1,647 0.090 CZERKIES,

WALTER et al WASHBURN II LLC 1.5 MUD unknown

599 CALIFORNIA AVE 11/16/2016 $625,000.00 $101 1938 6,189 0.355

URBAN ACHIEVERS

LLCDAYTWA ASSETS LLC 2 PO/MF14 unknown

1145 W 1ST ST 11/18/2016 $245,000.00 $220 1932 1,116 0.161JOHNSON,

MARTIN E & LANE A

THOMAS, THOMAS & ROBERTA R 1 CC unknown

950 INDUSTRIAL WAY 11/21/2016 $3,490,000.00 $224 1964 15,606 1.320

MANCINI PROPERTIES

INCSTENOSCRIBE INC 1 I Investment 7.4% Cap Rate. $180.60 psf. Milan Institute. Includes 034-404-03

which is 1.294 acres

DEAL





DateSale Price

Price Per SF

Year Built



701 JONES ST 12/05/2016 $150,000.00 $120 1928 1,246 0.109 RICE, ROBERT & STACEY et al

RICE, ROBERT & STACEY 1 MUDR unknown

10589 DOUBLE R BLVD 12/09/2016 $1,700,000.00 $215 2005 7,900 0.244 TIM PEAR LLC TDCI HOLDINGS LLC

SERIES 1 1 PUD Owner User

4838 SPARKS BLVD 12/09/2016 $390,000.00 $181 2007 2,158 0.056 WADELL

FAMILY TRUST

VINEYARD PROFESSIONAL CAMPUS II LLC

1 C2 Investment Cap Rate 6.75%

785 W 6TH ST 12/14/2016 $185,000.00 $33 1972 5,592 0.800 BLUE WATERS LLC NEVADA STATE OF 1 MUDR Owner User Sale only included building, not land.

9433 DOUBLE DIAMOND PKWY 12/20/2016 $700,000.00 $137 2016 5,126 0.160 MERCHANT &

MITCHELL LLC PCD ASSET GROUP 1 PUD unknown

50 CONTINENTAL DR 12/27/2016 $550,000.00 $161 2005 3,408 0.276

JOHNSTONE PROPERTIES

LLC

BULLITT-GREEN AD LLC 2 MUSV Owner User

639 ISBELL RD 12/30/16 $4,250,000.00 $77 1996 38,456 1.693KOHR-

TALLMAN LIVING TRUST

ISBELL PARTNERS LLC 4 GO Investment 5.3% Cap Rate. 83% occupied at time of sale. Value-add investment.

DEAL

DEAL

DEAL

> Total Investment Sales: 40> Total Owner-User Sales: 36> Total Unknown Sales: 15> 2016 Total Sales: 91



About Colliers InternationalColliers International Group Inc. (NASDAQ and TSX: CIGI) is an industry-leading global real estate services company with more than 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.

Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 12 consecutive years, more than any other real estate services firm.

For the latest news from Colliers, visit Colliers.com or follow us on Twitter (@Colliers) and LinkedIn.

colliers.com/reno

Copyright © 2017 Colliers International.

The information contained herein has been obtained from sources deemed reliable. While every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers are encouraged to consult their professional advisors prior to acting on any of the material contained in this report.

396 offices in 68 countries on 6 continentsUnited States: 153 Canada: 34 Latin America: 24 Asia Pacific: 36 EMEA: 111 ANZ: 43

$2.6billion in annual revenue*

2.0billion square feet under management

15,000professionals and staff

*All statistics are for 2016 and include affiliates

COLLIERS INTERNATIONAL | RENO100 West Liberty StreetSuite 740Reno, Nevada 89501 | USA+1 775 823 9666www.colliers.com/reno

MARKET CONTACTS:Melissa Molyneaux, SIOR, CCIMExecutive Managing Director & Senior Vice President | Reno+1 775 823 [email protected]

Landon GonzalezAssociate | Reno+1 775 823 [email protected]

Fay O’NeilResearch Analyst+1 775 823 [email protected]

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