A Bay Area couple recently purchased a 10-building office complex in north Carson City for $11 million. The couple's representative said there's no surprises in store for the current tenants.
Dewey Struble, senior advisor for the Reno office of Sperry Van Ness, a commercial real estatefirm, said Thursday when the new freeway is completed, and the additional development planned for that area matures, they could increase the rent. The northern section of the Carson City freeway is expected to be completed in a year and a half.
"Once the freeway is open the market in that area will increase," he said. "Wal-Mart will open and that whole area is maturing."
Husband and wife team Ray McLaughlin and Karen Bohn plan to move to Carson City by the end of the year to retire. Their representative said the couplewanted to make an investment in the community.
The complex includes 10 different buildings and has 23 tenants.
Contact Becky Bosshart at bbosshart@nevadaappeal.com or 881-1212.
property purchased is fully developed and at ists highest and best use right now. passive owners patient investors
who was the seller?
Parkway professinal LLC, roger shaheen developer
how long was it on the market? couple weeks six good offers on property won out over
10 one story office buildings?
no cahnges in fact the same management still exists and they are very happy with that that was an important consideration with them good professional over all as well as specific on this property been managed since built.
built in stage 10 diff building 1998 to 2001.
don't own anything else both have worked a llong time in silicon vallye and east bay he's basically in technology business
investiment opporunity.
of interest to c c people it was interesting to me that this property of rel big size compared to cc prop and reno prope dno that many big deals it shows the maturation of market in cc that there was this kind of deand of this type of asset and the pricing whcih a year or two ago woudl seem really agressive did not seem to trunr off knowledgeage and qulaified purchasers. lenders were also very eager to make the loan on this type of property they got a loan for parrt of it.
to get multi million loan couple years ago portends well for over all market of cc in past t would've been harder.
representing the couple
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