FOR SALE LONGLEY PROFESSIONAL CENTER 7025 Longley Lane, Reno, NV 89511 Owner-User/ Investor Opportunity MELISSA MOLYNEAUX, SIOR, CCIM Senior Vice President Executive Managing Director +1 775 823 4674 DIRECT +1 775 762 7990 CELL Melissa.Molyneaux@colliers.com ROXANNE STEVENSON Senior Vice President +1 775 823 4661 DIRECT +1 775 848 3673 CELL Roxanne.Stevenson@colliers.com COLLIERS INTERNATIONAL 100 W. Liberty St., Suite 740 Reno, Nevada 89501 +1 775.823.9666 www.colliers.com/reno 7025 Longley Lane, Reno, NV 89511 Colliers International 1
TABLE OF CONTENTS Table of Contents Property Highlights 4 Site Plan & Suites 5 Property Photography 8 Parcel Map 10 Property Site & Aerials 11 Asking Price, Financial Information & Vacancy 15 Physical Description 16 Market Overview 18 7025 Longley Lane, Reno, NV 89511 Colliers International 2
Offering Summary COLLIERS INTERNATIONAL I RENO Offering Memorandum For Sale I Owner-User/Investor Opportunity 7025 Longley Lane Reno, NV 89511 7025 Longley Lane, Reno, NV 89511 Colliers International 3
OFFERING SUMMARY Property Highlights Longley Professional Center 7025 Longley Lane, Reno, NV 89511 > > Located at 7025 Longley Lane, Reno, Nevada 89511 in the Meadowood Submarket. > > Property is a single story, multi-tenant building consisting of 13,800+ square feet on a 1.476+ acre parcel. > > Ideally located on the Longley Lane and Maestro Drive intersection with excellent visibility and access. > > The property has easy access to and from I-580. > > Outstanding property signage, including a full color LED sign on the pylon visible from Longley Lane. > > Close proximity to office, retail, restaurant, tech and industrial businesses. > > Above average architecture and curb appeal. > > Partially leased with opportunity for investors or owner-users to take advantage of the significant tenant improvements in place. > > The Greater Reno-Tahoe s business and economic climate is experiencing a major boom and the ramifications are far reaching! 7025 Longley Lane, Reno, NV 89511 Colliers International 4
SITE PLAN AND SUITES Property Floor Plan OCCUPIED SUITE 50 1,389 SF Tenant: Loft Dance Studio LED: 9/30/2019 AVAILABLE SUITE 40 5,400 SF Tenant: VACANT Former veterinarian office with extensive medical implements OCCUPIED SUITE 10/20 3,420 SF Tenant: Loft Dance Studio LED: 9/30/2019 AVAILABLE SUITE 60/70 2,620 SF Tenant: AIM Insurance Ability to vacate with 30 days notice OCCUPIED SUITE 30 790 SF Tenant: Tovis / Guided Alliance LED: 8/31/19 7025 Longley Lane, Reno, NV 89511 Colliers International 6
SITE PLAN AND SUITES Suite 60/70-2,620 SF Suite 50-1,389 SF 7025 Longley Lane, Reno, NV 89511 Colliers International 7
SITE PLAN AND SUITES Suite 40-5,400 SF Suite 10/20 & 30-4,210 SUITE 30 790 SF SUITE 10/20 3,420 SF 7025 Longley Lane, Reno, NV 89511 Colliers International 8
PROPERTY PHOTOGRAPHY Property Photography Suite 60/70 Suite 40 Full Color LED Sign YOUR SIGN HERE SUITE 40 YOUR SIGN HERE SUITE 60/70 Monument Signage Suite 40 Entry Suite 40 Entry 7025 Longley Lane, Reno, NV 89511 Colliers International 9
PROPERTY PHOTOGRAPHY Property Photography Suite 40 Entry Suite 40 Entry Suite 40 Exam Room Suite 40 Boarding Area Suite 40 Boarding Area 7025 Longley Lane, Reno, NV 89511 Colliers International 10
136.07 Parcel Map PROPERTY SITE & AERIALS PORTION OF THE NE 1/4 OF SECTION 6 T18N - R20E MAESTRO PAR. A R.S. 5020 208.09 100.62 175.17 DRIVE PAR. 2 R.S. 2591 POR. PAR. 1 P.M. 2607 182.11 55.81 401.16 025-590-09 3.583 ac. 355.37 025-590-02 64309 sf LANE 30' ACCESS & UTILITY ESMT. 309.95 64.01 PAR. B R.S. 5020 025-590-10 31213 sf 380.26 16.14 PAR. 1 R.S. 2591 POR. PAR. 1 P.M. 2607 198.63 20.74 191.77 328.42 69.13 69.12 162.62 162.46 025-590-06 13069 sf 51.35 70.42 025-590-03 38003 sf 156.19 290.19 025-590-05 68865 sf 13.63 17.11 47.02 64.13 PAR. 1 R.S. 2197 201.25 219.41 025-590-04 60190 sf 182.55 287.01 225.86 LONGLEY 7025 Longley Lane, Reno, NV 89511 Colliers International 11
PROPERTY SITE & AERIALS Property Aerial MAESTRO DRIVE LONGLEY LANE 7025 Longley Lane, Reno, NV 89511 Colliers International 12
PROPERTY SITE & AERIALS Expanded Site Aerial (Major Retailers) Reno Tahoe International Airport Reno Sparks Convention Center Meadowood Mall Proposed Rancharrah Mixed-Use Development Subject 7025 Longley Lane, Reno, NV 89511 Colliers International 13
PROPERTY SITE & AERIALS Expanded Site Aerial (Large Company & Tech Firms) DOWNTOWN RENO TAHOE INTERNATIONAL AIRPORT 8 MINUTES Subject Circle 8 Gaming Doctors XL 7025 Longley Lane, Reno, NV 89511 Colliers International 14
PROPERTY SITE & AERIALS Large Aerial Location Sparks Downtown 13 Miles Subject 7025 Longley Lane, Reno, NV 89511 Colliers International 15
FINANCIAL & OCCUPANCY INFO Asking Price & Financial Information PURCHASE PRICE: $2,500,000.00 Occupied Square Feet 8,219 Current Occupancy 60% Annual Net Income $110,928.60* Operating Expenses $46,500.00** Net Operating Income $64,428.60 *Includes income from Suite 60/70 on month-to-month **Additional information upon request Vacant Units Suite Square Footage 40 5,400 60/70 2,620 (Month to Month) 7025 Longley Lane, Reno, NV 89511 Colliers International 16
SITE DETAILS Physical Description > PROPERTY ADDRESS 7025 Longley Lane, Reno, NV, 89511 > BUILDING NAME Longley Professional Building > TOTAL BUILDING AREA 13,800 sf > LAND ACRES 1.476 Acres > LAND SF 64,309 sf > PARCEL 025-590-02 > ZONING Industrial Commercial (IC) > SUBMARKET Meadowood > YEAR BUILT 1996 > NO. OF FLOORS 1 > PARKING 55 > PARKING RATIO 4/1000 > FOUNDATION Concrete slab > STRUCTURAL Structural > ROOF Flat, built up roof system > HVAC Roof mounted HVAC package units > CEILINGS Mixture of open trusses, exposed duct work, taped and textured sheetrock and suspended acoustical tile > INTERIOR WALLS Primarily taped and textured sheetrock > FLOOR FINISHES Combination of tile, commercial grade carpeting, vinyl and specially applied sealant in former veterinary clinic > LIGHTING Fluorescent fixtures, skylights, and incandescent task lighting > WINDOWS Aluminum frames with dual pane windows > UTILITIES Water TMWA Sanitary/Sewer City of Reno Natural Gas NV Energy Electricity NV Energy Telephone Multiple providers Mass Transit RTC Bus 7025 Longley Lane, Reno, NV 89511 Colliers International 17
Market Overview COLLIERS INTERNATIONAL I RENO Offering Memorandum For Sale I Owner-User/Investor Opportunity 7025 Longley Lane Reno, NV 89511 7025 Longley Lane, Reno, NV 89511 Colliers International 18
MARKET OVERVIEW About Reno The Greater Reno-Tahoe s business and economic climate is experiencing a major boom and the ramifications are far reaching! As the announcements of large and recognizable companies that are moving to the area are publicized, businesses, investors and developers from all over the country are rushing to jump on the bandwagon. Companies are finding that the ease of doing business, coupled with favorable taxes and incentives, is creating an unparalleled motivation for business leaders to focus on Northern Nevada. With the area including major cities such as Reno, Sparks, Carson City, and Incline Village, there is plenty of room for expansion. With the benefits of Nevada s low tax on businesses - and a satisfying quality of life, it s a wonder why a business or developer would choose anywhere else. The region s optimal location to San Francisco, Portland, Salt Lake City, Las Vegas, and Los Angeles all within a day s drive is just another added benefit. With Nevada having the third most business-friendly tax structures in the country, it opened up many possibilities for out-of-state companies to locate facilities here, including Google, Tesla, Switch and Apple. Google recently purchased 1,210 acres of land in the Tahoe Reno Industrial Center, making them neighbors with Tesla and Switch. Tesla Motors also invested in Nevada and is currently building the world s largest lithium ion battery factory that is scheduled to have a 5.8 million square foot footprint. This $5 billion lithium battery plant is projected to employ 6,500 people and 16,000 indirect jobs within the next few years. In addition, the Las Vegas based tech company, Switch, is investing $1 billion in a 7.2 million square foot data center. The first building in the Switch Campus recently opened it s doors and became the world s largest single data center, measuring 1.3 million square feet. Finally, Apple also chose Reno to invest over $2 billion for their massive icloud data facility. They will also be building a 27,000 square foot shipping warehouse in downtown Reno. Apple is expected to generate 100 employees and 300 construction jobs from the data center and warehouse, on top of the current 717 established employees in Nevada. Demographics Washoe County 2017 Population 460,932 Daytime Population 242,362 Female 208,663 Male 212,744 Population Median Age 38.0 Total Businesses 16,341 Average Household Income $74,006 Median Household Income $52,619 Per Capita Income $28,880 Total Housing Units 197,378 Average Household Size 2.58 Owner Occupied 49.4% Renter Occupied 40.0% Vacant Housing Units 10.6% 2017 Demographics 1 Mile 3 Mile 5 Mile Population 16,318 90,780 197,665 Daytime Population 12,277 58,845 145,908 Female 3,573 32,551 66,048 Male 3,393 31,951 66,927 Population Median Age 35.9 36.6 39.6 Total Businesses 904 4,253 9,473 Average Household Income $62,400 $68,815 $77,740 Median Household Income $46,061 $47,043 $50,838 Per Capita Income $28,662 $28,311 $32,551 Total Housing Units 3,510 28,433 59,906 Average Household Size 2.19 2.47 2.42 Owner Occupied 30.5% 39.0% 44.6% Renter Occupied 59.0% 52.3% 46.5% Vacant Housing Units 10.6% 8.7% 8.9% 7025 Longley Lane, Reno, NV 89511 Colliers International 19