New owners revamp south Reno center
Longley West Plaza’s new owners are looking to rebrand the south Reno strip mall.
“Dennis wants to make it a kind of Plumgate,” says Shawn Smith, vice president, CBRE Inc., commercial real estate brokers in Reno, who is representing the property. “We are focusing on boutique tenants.”
“Dennis” is Dennis Banks, owner, Dennis Banks Construction, who with partner Art Hinckley now own the shopping center located on the northwest corner of South Virginia Street and Huffaker Lane.
Banks also owns Plumgate Center at the corner of Plumb Lane and Arlington Avenue as well as Napa-Sonoma Grocery Company.
“I bought Napa-Sonoma about five years ago to anchor that center,” says Banks. “And now it’s grown into something quite different.”
The wine bar and shop now serves breakfast, lunch and dinner.
Late last year Banks opened a second Napa-Sonoma location at Longley West, in the 6,000 square-foot, free-standing building that previously housed Austin’s then Jack’s eateries.
Longley West also features a State Farm Insurance office, Capitol Chiropractic of Reno, Audio Express car stereo shop, Dognasium doggie daycare and Scraps Dog Co., a pet supplier, as well as new tenants LoDo Loft women’s clothing store and Elegant Avenue Interiors home décor shop. A Chevron gas station, recently remodeled by Dennis Banks Construction, is on the corner.
According to the site brochure, there are seven Longley West storefronts available for lease, ranging in size from 1,200 square feet to 9,595 square feet. Leasing rates are $1.25 plus 35 cents triple net, except for the largest space, which is priced 75 cents plus triple net.
The average daily traffic is 26,000 cars on South Virginia Street and 100,000 on Highway 395, according to the Nevada Department of Transportation.
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.