Magnolia to deliver upscale amenities
Already busy with three major development projects in the Truckee Meadows, The Magnolia Companies late next month will roll out a hotel-like package of amenities for its office tenants in Reno.
Club Magnolia will provide a private car and driver for trips to the airport, car-wash services, dry cleaning pickup, shoe shines, food delivery and other services.
A concierge will provide reservations and recommendations to tenants of Magnolia properties, and Club Magnolia will provide a monthly schedule of social, educational and personal development programs.
Membership in the club will be free to tenants and their employees, although they’ll pay for the services they request.
The company believes it’s the first in the nation to offer this level of amenities to office tenants, said Mark Hatjakes, Magnolia’s strategic and brand marketing manager.
The strategy, Hatjakes said, is this: Executives of The Magnolia Companies believe that quality companies are willing to pay top-market rents for locations that increase the efficiency of their employees.
Club Magnolia meets that need.
At the same time, Club Magnolia is designed to help tenants attract and keep good employees.
The company rolls out the amenities package even as it’s handling the biggest development schedule in its history.
Leasing is just under way at Magnolia Double R, a 128,000-squarefoot office project the company has under construction at Sandhill Drive and Double R Boulevard in South Meadows.
The project includes five buildings ranging from one story to three stories.
The largest are 32,000 square feet each.
Leases are pegged at $2.20 a square foot about 45 cents less than The Magnolia Companies got for the most expensive space in its most recent project, Magnolia Village at McCarran Boulevard and Lakeside Drive.
At the same time, Magnolia Companies is pre-leasing its first retail development.
The 43,400-square-foot Magnolia Commons retail project is at Prototype Drive and Double R Boulevard, across a street from the sprawling International Game Technology plant.
The 36,300 square feet of retail space at Magnolia Commons will start at $1.75 a square foot.
A 7,100-squarefoot restaurant pad is projected to lease at $2.
It’s scheduled for occupancy this summer.
Among the tenants will be Magnolia Design Atelier, the company unit that provides interior design services.
It will move from the Magnolia Design Center, a flex-space development on Smithridge Drive in the Meadowood neighborhood.
The third big project under way by the company is the third phase of its Magnolia Commerce Center, a flexspace project at Mill and McCarran east of the Reno-Tahoe International Airport.
The two buildings under construction a total of 62,277 square feet of new development bring the Magnolia Commerce Center to 157,296 square feet.
Leases are pegged at $1.30 a square foot for office space and 65 cents
for warehouse space.
Heather Ashbridge, who started with Nevada State Development Corporation in 2008, previously served in several roles with the organization, including assistant vice president and loan officer. She is based in NSDC’s Reno office.