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Reno, Washoe County, Nevada
Prime Residential Development Opportunity
12671 High Bluff Drive, Suite 150San Diego, CA 92130
P: 858-523-0719F: 858-523-0826
www.lansingcompanies.com
LogistiCenter II
1.6 MM Marmot
North Valleys
Commerce Center
1.4 MM Mary’s Gone Crackers
Stead Industrial Center 14
MM Urban Outfitters, Turn 14,
Fosdick, Michelin, DDS,
General Motors, Numark,
Legend Valve, BizChair.com,
Cardinal Health, Firestone,
Burrows Paper
Sage Point
Business Park - 1.5MMUPS Logistics, Sherwin
Williams, Genco, Tagg
Logistics, Volvo, Bender,
Quality Bicycle Parts, Cascade
Designs, Barrier Safe
Solutions
SITE
STATEMENT OF CONFIDENTIALITY & DISCLAIMER
THIS DOCUMENT CONTAINS CONFIDENTIAL, PROPRIETARY INFORMATION. YOUR REVIEW OF THIS DOCUMENT CONSTITUTES
YOUR AGREEMENT TO KEEP ALL SUCH INFORMATION CONFIDENTIAL, TO USE THE INFORMATION SOLELY IN CONNECTION
WITH AN INVESTMENT/PURCHASE IN ARROYO CROSSING (THE “PROPERTY”) WITH LANSING COMPANIES (SPONSOR”), AND
NOT TO REPRODUCE, REDISTRIBUTE OR OTHERWISE DISCLOSE ITS CONTENTS TO ANY PERSON OR ENTITY. YOU FURTHER
AGREE TO PROMPTLY RETURN THE ATTACHED UPON REQUEST FROM SPONSOR.
THE INFORMATION IN THIS DOCUMENT REPRESENTS THE SPONSOR’S CURRENT ESTIMATES AND ASSESSMENTS IN
CONNECTION WITH THE PROPERTY. ACTUAL EVENTS AND CONDITIONS MAY DIFFER MATERIALLY FROM THE SPONSOR’S
ESTIMATES AND ASSESSMENTS. ADDITIONALLY, THE ASSUMPTIONS UTILIZED BY THE SPONSOR IN PREPARING THE
INFORMATION MAY DIFFER MATERIALLY FROM ACTUAL EVENTS. THERE CAN BE NO ASSURANCE THAT THE ESTIMATES
AND ASSESSMENTS WILL REPRESENT AN ACCURATE REFLECTION OF LOCAL OR NATIONAL ECONOMIC CONDITIONS, ACTUAL
EVENTS, OR ACTUAL INVESTMENT PERFORMANCE.
THIS CONFIDENTIAL MEMORANDUM HAS BEEN PREPARED FROM INFORMATION PROVIDED BY THE SPONSOR. IT DOES NOT
PURPORT TO BE ALL-INCLUSIVE OR TO CONTAIN ALL OF THE INFORMATION PROVIDED BY THE SPONSOR. IT DOES NOT
PURPORT TO BE ALL INCLUSIVE OR TO CONTAIN ALL OF THE INFORMATION THAT A PROSPECTIVE INVESTOR MAY DESIRE.
THE SPONSOR DOES NOT MAKE ANY REPRESENTATION OR WARRANTY, EXPRESSED OR IMPLIED, AS TO THE ACCURACY OR
COMPLETENESS OF THIS CONFIDENTIAL MEMORANDUM OR ANY OF ITS CONTENTS, AND NO LEGAL LIABILITY IS ASSUMED
OR TO BE IMPLIED, BY ANY OF THE AFOREMENTIONED WITH RESPECT THERETO. THIS MEMORANDUM HAS BEEN PREPARED
SOLELY FOR INFORMATIONAL PURPOSES TO ASSIST AN INTERESTED PARTY IN DETERMINING WHETHER TO PROCEED WITH
AN IN-DEPTH INVESTIGATION OF THIS INVESTMENT OPPORTUNITY.
THE SPONSOR RESERVES THE RIGHT AT THEIR SOLE DISCRETION TO REJECT ANY OR ALL PROPOSALS OR EXPRESSIONS OF
INTEREST IN THIS INVESTMENT OPPORTUNITY AND TO TERMINATE DISCUSSIONS WITH ANY PARTY AT ANY TIME WITH
OR WITHOUT NOTICE. IF YOU DO NOT WISH TO PURSUE THIS MATTER, KINDLY RETURN THIS CONFIDENTIAL MEMORANDUM
TO THE SPONSOR AT YOUR EARLIEST POSSIBLE CONVENIENCE. PHOTOCOPYING OR OTHER DUPLICATION IS NOT
AUTHORIZED.
TABLE OF CONTENTS
EXECUTIVE SUMMARY Property Summary
PROPERTY OVERVIEW Aerial Maps
Regional Map
Assessor Map
Approved Tentative Map
SITE PHOTOS
ARTICLES Tesla & Competitors Fuel Housing Boom in NV
EXECUTIVE SUMMARY
INVESTMENT SUMMARY
Location: Arroyo Crossing is north of US 395 and Lemmon Drive
interchange along Military Road. It is accessed directly from Military Road.
View Arroyo Crossing in Google Maps
Property Description: The property is currently vacant and unimproved.
Municipality: City of Reno, Washoe County, NV
APN: 086-421-12, 086-421-13, 086-421-40, 086-421-38
Acreage: 54.7 gross acres
Topography: Flat
School District: Washoe County School District
Entitlements: TTM approved July 6, 2016 for 236 Lots, Minimum lot sizes
of 4,500 & 9,000 square feet
Utilities: Water: TMWA; Sewer: City of Reno; Electric/Gas: NV Energy;
Phone: AT&T; Cable: Charter Communications; Stormwater: City of Reno
INVESTMENT HIGHLIGHTS
+ New home average value pricing has exceeded the previous peak from 2005
+ Located less than ¼ mile from LogistiCenter II (1.6 Million SF), Stead
Airport and Sage Point Business Park
+ Approximately 5½ million square feet of new industrial construction in
progress
+ Tentative map approved
+ Nearby Retail - Walmart and Smiths grocery
+ 1 mile to Lemmon Drive/US Highway 395 Intersection
Current economic development officials are projecting ±50,000 new
jobs to the Reno/Sparks area by 2020. As a result of the projected
growth we anticipate an increase of 60,000 people within five years.
Due to the projected demand, the region needs to build the
equivalent of two new Carson City’s worth of housing units by 2020.
The area is experiencing quality job growth spurred by recent
company relocations and announcements such as Tesla/Panasonic
(6,500+ jobs) and Switch (2000+ jobs).
PROPERTY OVERVIEW
PROPERTY OVERVIEW
Arroyo Crossing
PROPERTY OVERVIEW
PROPERTY OVERVIEW
PROPERTY OVERVIEW
SITE PHOTOS
SITE PHOTOS
ARTICLES
Tesla and Competitors Fuel
Housing Boom in NevadaTuesday, January 5, 2016, by Alexei Barrionuevo CURBED
In the 1860s, gold and silver discoveries spurred a short-lived
economic boom in Nevada. Hundreds of prospectors flooded into
the hillsides of what is today the western edge of the state, many of
them coming from the gold mines of California. Men like Henry
Comstock, for whom a giant silver lode was named, scrambled to
stake their claims in a wide-open frontier.
Today, it's electric car plants and data centers that are setting the
stage for a modern-day economic transformation in a state still
sweeping away the ash from the fire sales ignited by the recent
housing bust. Once again, California opportunists may be among
the biggest beneficiaries of a new mini-housing boom. Over the
past year Tesla Motors and Faraday Future, the electric car
manufacturers, have announced massive new operations in
Nevada, and as a result, the state needs to add tens of thousands
of new housing units.
Some 80,000 new residents will arrive by 2020. >>
Construction on the Tesla Motors Gigafactory east of Reno, Nevada, March 25,
2015. Photo by David Calvert/For The Washington Post via Getty Images.
ARTICLES
Tesla, based in Palo Alto, is building a $5 billion, 10 million-square-foot Gigafactory in northern Nevada, near Sparks, for the production of
lithium ion batteries for its electric cars.
"The bulk of the investment is coming from outside the state" so far, said Mike Kazmierski, president of the Economic Development Authority of
Western Nevada. The response to the forecasted demand is being met by national players like Lennar and Toll Brothers, and by California-
based developers like Lansing Companies.
Nevada-based builders, their psyches still singed by the previous housing bust, have been less eager to jump into the fray. "Most of the builders
in this region went under with the recession and the housing bust," Kazmierski said. "We were over-building, and when the music stopped it
was pretty dramatic in this region. People around here are saying, 'I have seen this before. I am going to be careful.'"
Builders outside the state, by contrast, have been less intimidated. "They have come in and said, 'Wow, we need to get into this, it is really
taking off,'" Kazmierski said.
To be sure, the housing market in Nevada has improved, especially in the Las Vegas and Reno-Sparks areas. The housing bust slashed prices
by half in both areas, but they have rebounded to just over half of pre-recession highs. In Las Vegas, median prices for single-family homes
rose by 9 percent in 2015 to $220,000, according to the Greater Las Vegas Association of Realtors. In Reno, prices increased by 17 percent to
$275,000, said Kevin Sigstad, president of the Nevada Association of Realtors.
Foreclosures and short sales—which reached 75 percent of sales in southern Nevada as recently as late 2011—have plummeted to 6 percent
of the combined Reno and Las Vegas markets, Sigstad said. Demand has caught up to supply and today it's getting tougher and tougher to find
an available home. What's happening in Nevada is transformative, and it's not just the electric car companies that are locating big operations in
the state.
ARTICLES
Dozens of companies have begun moving operations to the state recently. While Tesla's Gigafactory, which will be located in the Tahoe Reno
Industrial Center, a 107,000-acre behemoth of privately owned land about 15 miles east of Reno, will be the largest, Wal-Mart already has a 1
million-square-foot distribution facility there. And the center is also the future home of Las Vegas-based Switch, which is building the largest
network data center in the world; it will connect Las Vegas, Reno, San Francisco, and Los Angeles with the SUPERNAP, one of the fastest
fiber-optic loops in the world. Amazon has a distribution center in Reno. Apple has a data center there, too, which it is currently expanding to
increase its iCloud server capacity.
"We were already really busy before Tesla announced," Sigstad said. "Now we are three, four, five times busier than we were. It is kind of
heady."
Despite Nevada being the state with the highest percentage of land owned by the federal government—less than 20 percent is in private
hands—there is sufficient available land for residential development. To avoid more urban sprawl, state leaders have been encouraging in-fill
housing to meet the needs of the new companies.
Of bigger concern, especially around Las Vegas, has been whether there is enough water for all these companies and new residents. State
lawmakers spent considerable time charting the future water needs of the Apex Industrial Park, where Faraday will be based, before signing off
on the deal, which will give the company $215 million in tax abatements and tax credits.
Tesla's new facility broke ground last June, and the company is preparing to hire a slew of new workers beginning this month.
To house these newcomers, Lansing Companies is co-developing the Santa Maria Ranch, a 954-acre riverfront community in
the Dayton Valley that is planned to have 2,214 homes over 13 construction phases. Lot sizes range from a quarter of an acre
to 11.54 acres, with homes from 1,800 square feet to 5,000 square feet. Only 20 lots of 139 in the development's first phase
are still available, according to the project's website.
ARTICLES
The Reno Development Company, which, like Lansing Companies, has California roots, has six housing projects in the works in the Reno
area, including the 141-acre Rancharrah community, which plans to feature 691 units and two commercial parcels. The developer wants to
build single-family homes, and apartments or duplexes in seven residential villages, which would be gated. The centerpiece of the development
are a 52,000-square-foot equestrian center and a 30,000-square-foot mansion. Reno Development bought the former estate from John Harrah,
son of Harrah's Hotel and Casino founder Bill Harrah.
Just minutes from the Mount Rose Ski Resort, Toll Brothers is building the Presidio at Damonte Ranch, a luxury single-family home
community starting in the mid-$400,000s, with three single-story home designs.
State economic development officials are in talks with other potential developers. But Kazmierski said some still need arm-twisting. One Nevada
developer, whom he declined to name, has been reluctant to build despite having 600 people on a waiting list, he said.
"We will have a housing crisis if we don't respond to it," Kazmierski said. "They are building at a pace that based on their historic trends has
been adequate, but they need to accelerate the pace. The sooner we get things started the better.“
Article Link: Tesla & Competitors Fuel Housing Boom in NV
Contact: Greg Lansing
12671 High Bluff Drive, Suite 150
San Diego, CA 92130
Office: 858-523-0719
Fax: 858-523-0826
E-Mail: [email protected]
www.lansingcompanies.com
