Download the October 2013 Sales Detail (17K)
LAND
In the month of October, two commercial land sales and four residential land sales occurred. NOTABLE SALES- 66 acres in Spanish Springs purchased by Lake Washington Partners: They have announced plans to develop 1.5 million square feet of distribution space at the site in Spanish Springs.
- 8 small finished residential lots behind the Sparks Galleria: $180,000 or $22,500 per lot. The lots sold to a Las Vegas company.
- 5 lots in Montreux: Montreux seems to have the most interest for high end residential buyers.
MULTI-FAMILY
NOTABLE SALES- 50-unit complex at 2796 Plumas Street:$2,450,000 or $49,000 per unit. The complex consists of 50 units. This was the largest apartment sale, purchased by California investors.
- 20-unit complex at 237 Linden: $620,000 or $31,000 per unit.
- 6 units at 720 Lander: $420,000 or $70,000 per door. We represented the sellers in the transaction.
INDUSTRIAL
The industrial market had seven sales in October of which two were noteworthy. NOTABLE SALES- 9475 Double R: $2,835,000 or $72.08 per square foot. Sold as a foreclosure by US Bank to an investment group from Oregon.
- 127 Woodland (the prior New West Distribution facility): $2,300,000 or $67.50 (48,000 sf) per square foot. This property sold to a Massachusetts printing company. Fred Miller and Sheila Colfer of Dickson Commercial represented the seller.
OFFICE
The office market had seven sales in October. NOTABLE SALES- 10615 Professional Circle: $4,650,000 or $100.30 per square foot. The property was purchased by the Clemetson’s who also own the NevDex Properties. This was the largest Office sale.
- 2195 S Virginia Street: $1,825,000 or $71.52 per square foot. The building is in shell condition and will need additional money to be finished out.
RETAIL
NOTABLE SALES- 10525 Stead Boulevard, which is a Family Dollar Store: $1,640,000 or $197 per square foot. This 8,320 square foot building was purchased for the income and term of the lease.
- The Burger King on East Patriot: $1,506,575 or $521.66 per square foot.
- The Family Dollar in Washoe Valley: $1,245,594 or $155.70 per square foot.