New owners begin renovation of downtown building
The $1.6 million renovation of the US Bank office building at Liberty and Virginia streets began last week with installation of energy-efficient heating, air conditioning and lighting systems.
Blake Smith, managing partner of One East Liberty LLC, said the local ownership group will invest $750,000 in the energy-efficiency upgrades. The work includes:
Rooftop installation of a high-efficiency chilling tower.
Removal of existing oil burning furnaces and replacement of the heating systems with high-efficiency natural gas units and a smart energy-management system.
Installation of a new roof surface.
New high-efficiency lighting through the building and its parking garage.
Rick Gardner, executive vice president of Gardner Engineering of Reno, which designed the work, says the improvements are projected to reduce energy costs in the 96,832-square-foot building by 41 percent.
Industrial Logistics Services Inc. of Carson City, part of an all-local cadre of contractors on the renovation project, removed diesel tanks and old furnaces last week.
The next phase of the work, Smith said, will including remodeling of the first-floor lobby to create an additional 2,000 square feet of retail or office space.
Elevators will be upgraded, he said, and new landscaping will be installed.
One East Liberty LLC also plans construction of an 1,800-square-foot building facing Virginia Street for coffee or quick-food tenants.
Smith said the building’s owners are in talks with several potential tenants for the new building.
He said, too, that the owners are “very close to getting a commitment” from a California company that’s interested in leasing a full floor of office space.
The NAI Alliance office properties group of Dominic Brunetti and Scott Shanks, which helped broker the sale of the building to One East Liberty LLC earlier this year, has the leasing contract.
Spaces of 500 to 15,000 square feet are available for lease.
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.