After years in which office-building owners have been spooked about investing any money unless they had a lease in hand, the owner of long-vacant space in Reno is spending some speculative dollars to improve its position in the market.
The space at 990 and 1020 S. Rock Blvd. has been vacant since the industrial-flex building was constructed a decade ago, says broker Brad Lancaster of Miller Industrial Properties in Sparks. His company represents the owner, 990 South Rock LLC.
The company is investing about $100,000 to complete basic build-out of the space, which previously was on the market as unimproved shells. Naisbitt Company of Sparks is general contractor on the tenant improvements.
Lancaster said the owner believes the market is showing sufficient improvement that the speculative investment carries a lower risk than it did even a few months ago.
Four suites ranging from 3,250 square feet to 11,860 square feet are available in the complex.
NNBW staff
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