RENO, NV-Seattle area-based Lake Washington Partners has broken ground for phased development of 1.5 million square feet of distribution/warehouse space within Spanish Springs Business Center near Reno, NV. Although sources involved could not disclose a construction cost to GlobeSt.com at this time, but we did learn that there is an anticipated completion in late 2014, with the first phase being a 750,000-square-foot distribution center for SanMar Corp.
SanMar occupies another Lake Washington Partners property—a 622,000-square-foot distribution center at 555 Vista Blvd. in Sparks, NV.
Lake Washington Partners purchased the 66-acre site from Spanish Springs Limited Partnership in October, 2013. Lake Washington Partners' president, Jordan Lott, will aggressively seek build-to-suit tenants for the additional 800,000 square feet of industrial development at Spanish Springs. The company also plans to spend $3 million to renovate the to-be-vacated property in Sparks for re-introduction to the leasing market.
In ceremonies, Lake Washington Partners executives were joined by representatives of Spanish Springs Limited Partnership, the Economic Development Authority of Western Nevada and Washoe County officials. Reno-based United Construction Co. has been selected as general contractor.
"We're bullish about the area and the opportunities it presents for our tenants," Lott says. "It's a prime strategic location and provides tenants with a business-friendly environment and excellent quality of life."
Lott noted the Spanish Springs Business Center is particularly suited to meet tenants' big-box distribution needs with excellent access to Interstate 80 and US Hwy 395 through the adjacent Pyramid Highway corridor.
Lake Washington Partners' portfolio includes properties for lease or build-to-suit development in multiple markets in the US.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
