belvedere fireThere have been some large and interesting sales and listings since I check in last.

  •  The Sundowner/Belvedere South Town is is masquerading as Arlington North, and is available for $12,000,000.  The Belvedere built all the amenities for the entire project as part of the North Tower, and has the highest HOA monthly dues of any condo in Reno.  Separating out the South Tower with be interesting.
  • Firecreek Crossing is the retail center at SVA and Kietzke.  It sold pretty fully leased in October 2005 for $66,000,000 with anchor tenants like Safeway, Circuit City, and Sports Authority.  It sold in July for $48,490,000, with the Circuit City and Sports Authority leases for 90, SF discharged in their respective bankruptcy proceedings.  Will the new Stations Casino just announced for next-door turns things around for the vacant Big Box spaces at Firecreek?  Nah.
  • The purchase of Fly Ranch by the Burning Man folks has gotten all the attention, but Black Rock City Properties LLC just closed on 7 parcels in “downtown Gerlach” for $169,993.
  • Upstream is that Rancho San Rafael clone on the Truckee off Dickerson Road.  The project was foreclosed on for $1,555,000 in 3/2011, resold for $1,125,000 in 11/2012, resold again for $1,548,000 in 9/2015.  This sale included +/- 86 vacant but completed lots and 6 completed townhouses.  The 86 vacant Parcels just sold to Jenuane Communities for $4,050,000 or over $46,000 per completed lot.  I am a huge believer in the artist colony forming on Dickerson, but this sale looks pretty rich to me.  Congratulations to Siven Properties for the largest 1 year ROI in Reno!
  • Toll Brothers just closed on the majority of the Caramella Ranch Estates PUD.  the 329 acres they purchased for $29,443,473 are entitled to 1132 of the 1316 units approved in the PUD.   The Lennar controlled 1550 unit Butler Ranch PUD is still out there just south of Heron’s Landing.  I’ll be working up a post about the approved and pending PUDS, and the process it takes to turn a PUD into homes.  All I can say is that I weep for Cold Springs, which is scheduled to be inflicted with the majority of our regional growth.
Advertisements