Magnolia office and retail buidlings for sale in Reno
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.
It’s the first legal action brought against the mining tax proposals, each of which were voted on mostly party-line votes during this summer’s special legislative session in Carson City.