Asking rental rates have just been posted for the first release of the RED Reno project, FKA Park Lane. The Emory building is one of the big ones that wraps around a parking structure. I am sure it will be very nice. Back of the envelope estimate, rents are 35% higher than the highest rents for comparable product anywhere else in the region. How many RICCOH’s (Rich Californian’s Coming Over the Hill) can they find to buy into this level of pricing? What will the “real” pricing end up and how will that impact surrounding projects?
Interesting video links (and possible copyright violations?) if you Google search “red reno”!