McKenzie Properties planning office retail project at Rancharrah
Workers from McKenzie Properties dug holes a few days ago to post signs offering leases on retail and office locations in one of the highest-profile locations in Reno — a portion of Rancharrah along Kietzke Lane.
But so far, that’s about as much as Todd McKenzie, a principal in McKenzie Properties, knows for certain.
The longtime development and construction company headquartered in Reno purchased the 12.3-acre property, a piece of Bill Harrah’s equestrian estate, this spring after year-long talks with Harrah family scion John Harrah.
The property stretches along the west side of Kietzke Lane from Hammill Lane south to the boundary of the office complex anchored by First Independent Bank.
McKenzie said last week that his company has fielded indications of interest from restaurants, coffee houses, and other retailers and office users.
But first, McKenzie Properties is working with architects and planners to create an overall approach to the property, which is zoned as a planned-unit development.
It’s likely that those plans would call for office buildings on the western side of the McKenzie-owned property and retail or restaurant development along Kietzke Lane, McKenzie said.
But details — including the atmosphere that the developer wants to create with the project — remain to be determined.
The development company expects that construction might begin in late 2014 or early 2015.
McKenzie Properties’ most recent retail project is South Creek at South Meadows Boulevard and South Virginia Street. Its retail projects also include Spanish Spring Shopping Center anchored by Scolari’s at Disc Drive and Sparks Boulevard.
The company also owns and manages office and industrial properties in Reno and Sparks.
Despite ongoing difficulties, Northern Nevada’s office real estate market will endure, experts predict
IGT’s decision to list its 1.2 million sq. ft. campus for lease this month and the recent $3.8 million sale of Harley Davidson’s 3-story financial services building in Carson City are the latest examples of companies no longer needing larger-scale office properties to maintain productivity levels and meet customer needs.