Chapter Profile: NAIOP Northern Nevada

Harris and Tourin: Northern Nevada’s economy is being driven by logistics and distribution companies taking advantage of the region’s strategic location, and now advanced manufacturing companies are following suit. Panattoni is currently building more than 2 million square feet of spec industrial product in our North Valleys submarket. Dermody Properties has also completed several other big-box projects in the North Valleys over the past 12 months. Emerging industrial markets include the town of Fernley, 30 minutes east of Reno/Sparks on Interstate 80 and along the Union Pacific rail line. This new park will include an intermodal trans-load facility for logistics and manufacturers. Google’s 1,200-acre project in the Tahoe Reno Industrial Center is under construction and has yet to be officially announced. Speculation says it will be bringing in hundreds of high-paying engineering and tech jobs. All of this activity has led to a flurry of mixed-use developments like the project Reno Land is currently developing at the 38-acre Park Lane site in the center of the city. A former regional mall site is being transformed into luxury apartments, retail and office. Tolles Development Co. acquired land to also construct a retail and office project southwest of the Reno Tahoe Airport in the Meadowood submarket. McKenzie Properties has just announced Skypointe, a 200,000-plus-square-foot spec mixed-use project at the most traveled intersection in Reno. Downtown Reno is also experiencing significant redevelopment with a $1 billion, 20-block project by developer Jacobs Entertainment. Jacobs is expected to deliver more than 2,000 units including multifamily, hotel,
retail and entertainment venues.

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