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.
The news comes on the heels of a luxury home report from Nevada State Bank that showed in 2019, Northern Nevada’s high-value real estate market accounted for 418 home sales in 2019, an increase of 4.8 percent over 2018. The average luxury home price was over $1.8 million in 2019.