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| Rob Cord |
RENO, NV – The Reno office of Voit Real Estate Services has
been selected by Northwestern Mutual to
provide property management and repositioning services for two portfolios
totaling more than two million square feet in Reno, Nev.
Voit was awarded the contract after a competitive search
conducted by the property owner, according to Rob Cord, Managing
Director of Voit Real Estate Services.
“It is simple, today’s owners are seeking a lot more than
complex analysis, reporting, in-house IT services, systems integration and
banking relationships,” explains Cord.
“They need managers to perform; managers
who are able to do what they commit to do and deliver the vision for the
future.”
Cord continues, “At
Voit, we act as a surrogate owner in our approach to third-party management and
combine a full spectrum of services that allow us to make adjustments and
advise ownership on what needs to take place to maximize an investment’s
performance.”
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| Carole Brill |
The Reno portfolio is comprised of the 1.3 million
square-foot Sparks Industrial Portfolio, which encompasses 13 buildings and is
currently 89 percent occupied; as well as the 719,419 square-foot South Center
Industrial Park, made up of two buildings that are currently 98 percent
occupied.
According to Voit, the portfolio is being repositioned to
create a sense-of-place and managed to build a community with in the park’s
tenants with exterior and vacant suite improvements, which will make the
properties more competitive within their various submarkets.
The improvements,
which are well underway, include paving, a full redesign of the exterior of
each building, including new paint, signage, and new landscaping throughout.
Voit’s Reno Real Estate Management Services team will be led
by Carole Brill, Senior Real Estate Manager, and Ross Tolbert,
Director of Operations. Voit will be working closely in partnership with Mike
Nevis of NAI Alliance, who is managing the leasing of the portfolio.
“In the first 30 days we met with each tenant in order to
ensure their individual needs were being met,” notes Cord. “As we communicate with each tenant, we work
toward the primary goal of creating the most beneficial place for their
business looking into the next decade.”
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| Ross Tolbert |
Cord notes that the portfolio repositioning is already
underway. The project work-out facility
is being renovated, the park areas are being revived, and drive-by security has
commenced, ensuring the safety of tenants and their equipment, which together
begin to build the sense-of-place for our tenants, according to Cord.
According to Cord, Voit’s new assignment is well-aligned
with an increasing trend of tenant demand in Reno.
“Reno continues to position itself as a growing regional
industrial and warehouse market with excellent potential for future
development,” says Cord.
“For example, Nevada recently beat out a five state
bidding to bring Tesla Motor’s gigafactory business to this market.”
Tesla will be building a five million square-foot factory to
produce its vehicle batteries and charging stations, all of which will be used
throughout the U.S. and various international locations, according to Cord.
For more information on these properties, call Voit’s Reno
office at (775) 356-5300.
For a complete copy of the company’s news release, please
contact:
Jenn Quader or Amanda Brenner
Brower, Miller & Cole
(949) 955-7940
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