Office space demand keeps Tanamera busy
Seeing no slowdown in demand for garden office buildings, Tanamera Commercial Development is moving full speed with about 400,000 square feet of buildings in two south-Reno campuses.
Work will begin this autumn at Longley Professional Campus, approximately 50 office buildings on 24 acres running along the east edge of Longley Lane between Double R Boulevard and McCarran Boulevard.
The buildings, each 4,300, 6,000 or 7,000 square feet, can be divided into two office spaces, said Brett Seabert, chief operating officer and chief financial officer of Tanamera.
The buildings either will be sold to individual users or sold to investors who, in turn, will lease the space to users.
Building shells will be available in the first quarter of next year.
In South Meadows, meanwhile, Tanamera continues with development of about 174,000 square feet of office space in its Sierra Vista Office Campus.
That development is along Double R Boulevard on the east side of U.S.
395 just south of the Reno Tahoe Tech Center.increase the amount of garden office space by nearly 100,000 square feet.
Seabert sees no evidence of waning demand from business owners and professionals who want to own rather than lease their office space.
And he says Tanamera believes demand will hold even if interest rates creep up.
“As long as the interest rate stays 7.5 percent or lower, it’s going to be economically beneficial for users to purchase rather than lease,” he says.
Initially, Seabert said, Sierra Vista was designed for approximately 78,000 square feet of garden office space.
Finding strong demand for the buildings, Tanamera redesigned the project to
The governor’s newest directive opens the door for live sports, entertainment and events to begin, though with restricted capacity. It also sets a 1,000-person capacity limit on trade shows, business conventions and other conferences.