South Reno flex project begins
Grading was under way last week as the first step in the development of 185,000 square feet of flex industrial space at the northeast corner of South Meadows and Double Diamond parkways in south Reno.
The project known as Creekside Crossing is east of the Double Diamond Athletic Club. It’s owned by Creekside Development LLC, and F&P Construction of Reno is the contractor.
The first 40,000-square-foot building is scheduled for completion May 1, and 10,000 square feet of that building already has been leased, said Mike Wells, whose firm, Wells & Co. Realty LLC, is handling sales and leasing.
Work on additional buildings will begin as the first phases are leased or sold. Pricing, Wells said, will be in the range of 85 cents a square foot for leases and $140 a square foot to purchase an unfinished shell.
Wells said the project, with spaces as small as 1,250 square feet, fills an unmet need for small industrial flex spaces. Flex projects combine office with some features of industrial properties such as roll-up doors for deliveries or small amounts of warehouse space.
The portions of the project that face South Meadows Parkway will feature an upgraded design by architect Chuck Matetich of Reno’s Archidea, Wells said.
Plans for the part of the property closest to the parkway property just north of a creek channel remain under study, although neighbors have expressed hope for retail and office uses.
“We’re going to allow the market to tell us what to do,” Wells said.
The development company plans to upgrade the area of the creek channel with paths and park-like amenities.
Today, RSAR published its newest monthly market report, revealing a median price for single-family homes of $415,000 for Reno/Sparks in March.