Purchasers of Air Center Plaza plan work
The purchasers of the Air Center Plaza plan a modest renovation of the 52,000-square-foot shopping center in southeast Reno.
The work will include new signage and new landscaping for the center at the northeast corner of Longley and McCarran Boulevard, said Tilio Lagatta,whose Southern California-based Lagatta Properties purchased the center along with Zephyr Capital Partners.
The center’s tenants include small retail and office users.
Spaces range from 550 square feet to 6,000 square feet.
Lagatta said last week that the purchasers were drawn by the center’s location along a major corridor for commuters, and he noted increased retail development is on the drawing board for the corner of Longley and McCarran.
And the center’s vacant spaces provide a substantial upside to the acquisition.
The purchasers were represented by Michael Schnabel and Aiman Noursoultanova of the Investment Properties Group of CB Richard Ellis in Reno.
CB Richard Ellis will handle leasing of the center.
“We have seen about $450,000 worth of catering cancellations, so it has been a significant amount. Everybody’s canceling for obvious reasons,” says Colin Smith, owner of Roundabout Grill.