Construction is expected to begin within 90 days on Airport East Commerce Center, an 18-building industrial complex on Joule Street just east of Rock Boulevard in Reno.
Panattoni Development is developer of the project, which totals more than 135,000 square feet.
It's being marketed by Commercial Properties of Nevada.
Completion of the flex warehouse units is scheduled for the summer of 2005.
The project is designed to meet the continued strong demand from businesses that want to own their own facilities, said Deborah Sasz- Vonarx of Commercial Properties of Nevada.
That segment has remained strong, she said, as interest rates remain at their lowest level in decades and the costs of ownership compare favorably with the costs of leasing space.
Spaces in the project range from 4,900 square feet to 10,000 square feet.
Panattoni Development estimates prices in the project will be $88 to $98 a square foot for building shells.Units also will be leased at an estimated price of 70 cents a square foot.
The project will involve concrete tilt-up construction with metal roof structure.
Clear heights in the warehouse areas will range from 18 feet to 24 feet.
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