Lakeridge West heading to auction
The U.S. Bankruptcy Court in Reno has set an auction Feb. 18 on the Lakeridge West Apartments complex in Reno.
The minimum bid on the 126-unit complex is set at $7.5 million. The winning bidder will be required to put up a $1 million deposit, and the sale is scheduled to close between Feb. 21 and Feb. 24.
The complex, which includes one-, two- and three-bedroom units, is on 5.47 acres adjacent to the Lakeridge Golf Course.
While it’s currently a rental property, it’s mapped for condominium sales.
Access to the auction will be limited; contact Avison Young Western Alliance Commercial Inc. at 775-332-2800 for details
Industrial brokers: With preleasing at all-time highs, finding adequate space will be a major challenge in 2021 across Northern Nevada
With industrial real estate vacancy dipping under 5% in Greater Reno-Sparks at the end of 2020, leasing space in the new year will be similar to buying a home in Northern Nevada — expect multiple offers from tenants competing for the same space, industrial brokers say.