Panattoni Acquires Land in South Meadows
Tuesday, February 23rd 2016
RENO, NV – Panattoni Development Company has purchased two parcels of land totaling 20.27 acres located between Sandhill Road and Trademark Drive in South Meadows. Previously owned by International Game Technology (IGT), the development will be called South Valley Commerce Center and will feature two high-image industrial buildings totaling approximately 390,000 square feet of industrial space once complete.
“Land constraints, proximity to executive housing and other amenities as well as the submarket’s low vacancy makes this a very desirable business park,” said Doug Roberts, partner with Panattoni Development Company. “The south Reno market represents 11.6% of the overall industrial market and there is very little product available to lease.”
The surrounding area is currently home to companies such as IGT, Hewlett-Packard, Scientific Games (formerly Bally Gaming), Apple, Sanofi, Kodak, Nevada Gaming Control, Alcon and Spaulding. Building A will total 209,000 square feet and will have a clear height of 32 feet. Building B will total 180,792 square feet and will have a clear height of 30 feet. Both buildings feature up to date amenities including LED lighting and higher level office finishes, and can be demised to accommodate smaller to mid-bay tenants. Sizes range from 18,590 to 52,000 square feet, or up to 209,000 square feet for users wishing to occupy an entire building.