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Magnolia office and retail buidlings for sale in Reno

NNBW Staff

The Magnolia Companies of Reno has listed a portion of its portfolio of office and retail buildings in Reno for sale.

The buildings on the market include Magnolia Village, a 72,506-square-foot office and retail complex at Lakeside Drive and South McCarran.

The complex is listed at $28.8 million, which translates into a cap rate or rate of return of 5.5 percent.

Also displayed on Loopnet, a national Web site for commercial real estate brokers is the 18,558-square-foot Magnolia South Meadows III and the 18,781-square-foot Magnolia South Meadows IV, both near Gateway Drive and Double Eagle.

Both are listed at about $5 million.

That’s a cap rate of 6 percent.

Ted Stoever II, a Reno real estate agent, has listing agreements for the Magnolia properties.

The Magnolia Companies also is developing retail and office projects in South Meadows as well as industrial-flex space in Reno.

Its portfolio includes about 500,000 square feet of office and retail space in northern Nevada.