www.cbre.com/reno

S. Virginia Street

Kietzke Lane

Moana Lane

Downtown Reno

Peppermill Casino Resort Spa

±46 Acre Mixed Use Development (Under

Construction)

Reno/Sparks Convention

Center Atlantis Casino Resort Spa

Reno/Tahoe International

Airport

Firecreek Crossing (Power

Center)

University of Nevada, Reno

Subject Site

Peck

ham

Lan

e< To Lake Tahoe

Neil Road

Neil Road Recreation

Center

City of Reno Park & Police Substation, Boys & Girls

Club, St. Mary’s Medical Clinic

Alpine Vista Condominiums

Airport Square: Costco, Mor Furniture for Less,

REI

Alder Creek Villas Apts.

±3 ACRES MIXED-USE ZONED LANDLOCATED ALONG INTERSTATE 580VIRBEL LANE, RENO, NEVADA

FOR SALE

www.cbre.com/reno

FOR SALE±3 ACRES MIXED-USE ZONED LAND

INTERSTATE 580 AT VIRBEL LANERENO, NEVADA

PROPERTY OVERVIEW

Highly visible ±3 acre site located alongside Interstate 580 in South Reno. Property is zoned Mixed Use and situated in the Convention Regional Center plan area. Previously planned for 105 condo-mapped units. Approximately ±29.40 acre feet of water rights can be included (per Truckee Meadows Water Authority).

SALE DETAILS:

+ Offering: ±3 acres of land located alongside I-580 at Virbel Lane in Reno

+ Sale Price: $1,000,000

+ Zoning: MUCC - Mixed Use/Convention Center

+ Flood Zone: X (outside of the 100-year flood zone)

+ Utilities: City of Reno (sewer); TMWA (water)

+ APNs: 020-481-01 through 10; 020-482-01 through 020-482-27; 020-483-01 through 020-483-55; and 020-484-01 through 202-484-06 and 020-484-33 through 020-484-39

+ Uses: Ideal for a residential condo, multifamily development (105 condo mapped parcels) or self-storage project.

CONTACT US

AIMAN NOURSOULTANOVA, CCIM+1 775 823 6983aiman.noursoultanova@cbre.com

© 2019 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. Any projections, opinions, or estimates are subject to uncertainty. The information may not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited.

www.cbre.com/reno

FOR SALE±3 ACRES MIXED-USE ZONED LAND

INTERSTATE 580 AT VIRBEL LANERENO, NEVADA

Virbel Lane

INVESTMENT HIGHLIGHTS

+ Highly visible site along I-580 in South Reno

+ Mixed use zoning allows for multifamily, residential or self storage uses, among others

+ Centrally located near the convention center, Meadowood Mall, the Atlantis Casino Resort Spa, commercial/retail and other employment centers

+ Easy access to major thoroughfares and the Reno/Tahoe International Airport

+ Property is condo mapped for 105 units

+ ±29.40 acre feet of water rights available (per TMWA)

1/189th UNDIVIDED INTERESTIN COMMON AREA

Also known asALPINE VISTA

CONDOMINIUMS

(#1872)AMENDED PLAT OF SUMMERSNOW

PORTION OF THE NW 1/4 OF SECTION 30T19N - R20E

VIRBEL LANE

EAST

LANE

PECKHAM

SMITHRIDGE DR.

I N T

E R

S T

A T

E

5

8 0

NUTM

EG

160.

04

144.92

77.8421.5

8

6363 sf

4.84 ac.

COMMON AREA

118.92

15

92.0

0

10

174.

06

64.33

256.

58

150.06

217.95

1002

.73

275.90

422.25

86.7

0

324.

27

146.

65

71.15

50.0

0

9.34

79.0

0

13.0013.06

9.00 8.00

4.83

20.0

0

9.31

12.5812.50

12.10 12.10

0.33

0.42

0.90

0.33

SCALE : 1" = 20'

INT.CAR

PORT

ENDCAR

PORT

PATIOPATIO

TYPICALENDUNIT

TYPICALINTERIOR

UNIT

020-480-00

020-481-00PLACE

WASHOE COUNTYASSESSOR'S OFFICE

STATE OF NEVADA

NOTE: This map was prepared for the use of theWashoe County Assessor for assessment and illustrative purposes only. It does not represent a survey of the premises. No liability is assumedas to the sufficiency or accuracy of the data delineated hereon.

Michael E. Clark, Assessor1001 East Ninth Street

Building DReno, Nevada 89512

(775) 328-2231

created by: __________________________

last updated: _________________________

area previously shown on map(s)

____________________________________

Assessor's Map Number

020-48

1 inch = 200 feet

Å

020-35

024-05

020-28

020-23020-21

020-46

020-34

020-25

020-22

020-31

025-01

020-27

020-05

Reno

Sparks

0 50 100 150 200

Feet

TWT 3/6/2015

020-37

TWT 8/24/2015

www.cbre.com/reno

FOR SALE±3 ACRES MIXED-USE ZONED LAND

INTERSTATE 580 AT VIRBEL LANERENO, NEVADA

Submarket Map Legend:

1) Subject Site

2) Alpine Vista Condominiums

3) Neil Road Recreation Center, Miguel Ribera Park, Neil Road Family Services Center with Boys and Girls Club, Community Health Alliance, Reno Police Substation, St. Mary’s Medical Clinic

4) Silver Sage Senior Apartments

5) Alder Creek Villas Apartments

6) A-American Self Storage

Virbel Lane

Nutmeg Place

Peckham Lane

Neil R

oa

d1.

2.

3.

5.

6.

4.

Model Way

www.cbre.com/reno

FOR SALE±3 ACRES MIXED-USE ZONED LAND

INTERSTATE 580 AT VIRBEL LANERENO, NEVADA

SUBMARKET OVERVIEW

Located in the City of Reno’s Convention Center Regional Plan area, this property is well suited to capitalize on current and future development. This regional center consists of the Reno-Sparks Convention Center, the Meadowood Mall, various hotels and casinos, shopping centers, office buildings and residential properties.

ZONING OVERVIEW:

The property’s mixed use zoning allows for flexibility in potential uses and is well suited for residential, multifamily, or self-storage development. To help encourage new development, most projects internal to the Regional Center are allowed to proceed without further discretionary review and apply for building permits. Incentives for development include lowered setbacks and landscaping standards, as well as decreased minimum parking requirements.

Boys and Girls Club, Community Services Center Neil Road Recreation Center

Reno/Sparks Convention Center

www.cbre.com/reno

FOR SALE±3 ACRES MIXED-USE ZONED LAND

INTERSTATE 580 AT VIRBEL LANERENO, NEVADA

S. V

irgin

ia S

tree

t

Kiet

zke

Lane

Moana Lane

Downtown Reno

Peppermill Casino Resort Spa

±46 Acre Mixed Use Development (Under

Construction)

Reno/Sparks Convention

Center

Reno/Tahoe International

Airport

University of Nevada, Reno

Subject Site

Grand Sierra Resort

Peckham Lane

Smithridge Plaza: Trader Joe’s, Toys R Us, CVS, Steinmart,

Big Lots

Atlantis Casino Resort Spa

Bed, Bath, Beyond, Cost Plus, Nordstrom Rack, TJ Maxx, Sam’s

Club & more

www.cbre.com/reno

FOR SALE±3 ACRES MIXED-USE ZONED LAND

INTERSTATE 580 AT VIRBEL LANERENO, NEVADA

NORTHERN NEVADA REGIONAL OVERVIEW

In 2018, Area Development ranked Reno among its “Top 10 Leading Metro Locations.” Specifically, Reno ranked first among mid-size metros for “Economic Strength” and fourth overall. This business-friendly tax environment has created many possibilities for out-of-state companies to locate facilities here including Apple, Amazon, Google, Switch and Tesla/Panasonic. As noted by local economic development officials from a recent study called the “EPIC” report, the region is forecast to create approximately 50,000 jobs and population growth of over 60,000 new residents between 2015 and 2019. Current employment is approximately 230,000 people with a population of approximately 500,000 in the metro area.

According to the study, the Washoe County region is seeing steady and improving demographic and employment growth. The economy is becoming increasingly diversified due to a proactive regional business recruitment and retention strategy. Northern Nevada is supported by locational/transportation advantages which include access to Interstate 80, Union Pacific Mainline Rail, inexpensive redundant power sources and superior fiber connectivity. The infrastructure supports the region’s emergence as a powerhouse in worldwide technology-based commerce.

In fact, over 100 companies have relocated to the Reno-Sparks region within the last three years. As recently as August 2016, an EDAWN (Economic Development Authority of Western Nevada) reported that the region is on track to meet the projected 52,000-plus new jobs and 47,000-plus new residents by 2020. Meanwhile, the U.S. Labor Department reported that Nevada as a whole experienced the top employment growth rate in the country during 2017, with year-over-year job gains at 3.3 percent ending in December.

www.cbre.com/reno

FOR SALE±3 ACRES MIXED-USE ZONED LAND

INTERSTATE 580 AT VIRBEL LANERENO, NEVADA

RECENTLY RELOCATED AND EXPANDED EMPLOYERS

Over 100 companies have relocated to the Reno-Sparks region within the last three years including big name companies such as Tesla/Panasonic, Switch, and leading technology companies such as a Cupertino, California-based iPhone manufacturer and a multinational internet search engine leader based in Mountain View, CA. Some of the notable companies that have recently located or expanded to Northern Nevada include:

+ Tesla/Panasonic: Tesla/Panasonic selected Northern Nevada as their location for the world’s largest Gigafactory focusing on manufacturing of cutting edge technology advanced energy storage.

+ Switch: Switch is the world’s largest data center at 1.2 millions square feet. Switch has completed their construction for a total of 7 buildings and 6.49 million square feet of high tech data campus on 1,000 acres.

+ Multinational Technology Company: A multinational technology company/notable iPhone maker based in Cupertino, CA acquired 345 acres in the 2,300 acre Reno Technology Park and is currently under construction on its $1 billion iTunes data center.

+ Multinational International Search Engine Leader - A multinational technology company/internet search engine leader based in Mountain View, CA recently acquired 1,200 acres in the Tahoe Reno Industrial Center for a future data center.

+ Clear Capital - Clear Capital with 400 finance and technology jobs recently moved its headquarters to Class A office space in Downtown Reno.

+ Alchemy - Software services and solutions company. This innovative tech company works to improve software development for companies and students through the use of cloud-based optimization tools, applications, training and services.

+ Breadware - Hardware development company that designs and builds custom electronics. Breadware will be located in the Innovation Center in Downtown Reno, a tech hub formed by a partnership with the University of Nevada, Reno.

www.cbre.com/reno

FOR SALE±3 ACRES MIXED-USE ZONED LAND

INTERSTATE 580 AT VIRBEL LANERENO, NEVADA

NNN

EMPLOYERS MAP - NORTHERN NEVADA

© 2018 CBRE, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property.

All Rights Reserved. Sources: CBRE Location Intelligence Group (877) 580-4674; ESRI, StreetPro, Microsoft Bing. 349154 03/21/2018CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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To Lake TahoeSki Resorts:

iCloud Data Center

Reno TechnologyPark

WALMARTDistribution Center

Distribution Center

(Software)

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Reno

Sparks

445

650

395

80INTERSTATE

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95

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REGIONAL EMPLOYERS MAP