Two Portland, Ore., investment groups purchased the property on the west side of Keystone Square at 525 and 475 Keystone Avenue for about $10 million in August, according to the Washoe County assessor's records.
A potential buyer also may have eyes on the Keystone Square annex on the East side of Keystone.
Keystone Square Investments II LLC and MRA Investments LLC bought the buildings occupied by Perino's Ristorante Italiano Pizzeria, Albertson's, and two other retailers. It also purchased a theater building on the property.
MRA Reno Investment LLC purchased the Radio Shack building opposite the Albertson's store and next to Wells Fargo bank and the adjacent retail stores. The properties were owned by San Franciso-based Ocean Hill Apartment Company. Warden Noble, one of the investors in Ocean Hill, said the property was sold so the company could reinvest in a property in Texas.
An office building and liquor store facing 4th street were not included in this sale.
Lisa E. Johnston, a portfolio manager with Colliers International in Portland, confirmed she began managing the property a few weeks after the purchase. However, Johnston declined to comment on the new owners' plans.
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