NSDC & Heritage Bank of Nevada work to facilitate loan for US Geomatics’ Midtown location
US Geomatics, Inc., a Nevada-based corporation providing professional land surveying and mapping services for public and private businesses, has purchased a building at 1071 Haskell Street in the Midtown Reno office and retail district that will serve as new company headquarters.
To finance the $275,000 project, US Geomatics, Inc. (UGI) capitalized on an advantageous rate of just 4.091 percent on an SBA loan arranged through Nevada State Development Corporation (NSDC). Heritage Bank of Nevada also participated in the financing.
UGI owner Glen Armstrong says the new location will put the company in a superb position to grow while operating more efficiently.
“Since we opened UGI in 2004, this will be the first time that we have a true fixed operating cost that’s going to save us an average of nearly $7,000 a year in rent just for starters,” Armstrong said. “Additionally, the layout of this building is going to allow us to grow while providing the flexibility we need to grow the business moving forward.”
As UGI grows and expands, the new property’s basement area can be utilized for additional office space while providing storage space for the firm’s present needs, Armstrong pointed out.
“UGI’s new location is in the rapidly redeveloping Midtown Reno office and retail district,” said Roger Kadz, Vice President/Business Development Officer with Nevada State Development Corporation. “Nobody has a crystal ball, but with a little luck in the real estate market, they have an excellent opportunity to turn what would have been rent payments into a strong equity position. UGI will likely have an excellent chance of seeing some real appreciation over the next several years of business operations.”
Services provided by UGI include topographic and hydrographic surveys, photogrammetric control, remote GPS survey, GIS, resource-grade GPS and data collection, water rights surveying and mapping, forensic surveying, aerial topographic surveys, public works and engineering support, project planning and management, legal description preparation, and ALTA/ACSM land title surveying for all of Nevada, Northern California, and Oregon.
Clients of UGI include federal, state and local agencies, large- and small-scale utilities companies, commercial and residential real estate developers, private landowners, and large-scale water rights users. Key customers of the company include The Truckee Meadows Water Authority, Ormat Nevada, Inc., and Tectonics Design Group.
UGI markets through industry-related professional organizations, advertisements in industry-specific publications, word of mouth, and a prominent online presence.
For more information on Nevada State Development Corporation, please visit http://www.nsdc.com.
For more information on US Geomatics, please visit usgeomatics.com.
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.