$11 million sale in Carson
A Maryland investor has purchased two office buildings leased by the state government in Carson City in one of the largest office transaction in northern Nevada in recent years.
Holly Lakepoint LLC purchased the buildings on Technology Way, which total 102,000 square feet, for $11 million.
Thomas Johnson of Sperry Van Ness, who represented both the buyer and the seller, said the buyer owns a portfolio of buildings leased to state governments and other governmental agencies in Maryland and neighboring areas. The Carson City acquisition was part of a 1031 exchange, a type of transaction that allows deferral of taxes on a capital gain.
The three-story buildings in Carson City are occupied by the State of Nevada Department of Health and Human Services.
Two pad sites that could be developed into two additional 51,000 square foot buildings also were part of the transaction. Johnson said the buyer will hold them for possible future development.
From a national standpoint, research shows the embrace of digital commerce is a whole decade ahead of schedule thanks to the pandemic. We spoke with the Retail Association of Nevada, Downtown Reno Partnership and the Reno+Sparks Chamber of Commerce to give local context to the growth of online retail.