Manufacturing Property Changes Hands in Reno, Nevada
Truckee Tahoe Lumber Company is the new owner of the 32,000 sf warehouse at 1550 Hymer Avenue in Sparks, Nevada. Carole Brill and the team at Miller Industrial Properties successfully negotiated the final sale of the circa 1965 property for previous owner Marquez Brothers International, Inc., after its decision to consolidate the Sparks-based operation into its Sacramento distribution center.
While the property was in good standing and well situated, challenges of the listing included dated features and deferred maintenance. To combat this, Miller Industrial Properties executed a targeted marketing plan designed to reach users that would benefit from the facility’s structure and make use of its unique features. The property is ideally suited to manufacturing, which has been a dead spot in the local market for the last few years, and Miller Industrial highlighted this attribute in its marketing efforts. “They worked diligently on the disbursement of the building over a two-year period,” said David Villanueva, CEO of Marquez Brothers. “Through consistent and creative marketing, a buyer was procured that concluded in a sale most suitable to all parties.”
After attracting Truckee Tahoe Lumber Co., Miller Industrial worked to ensure that both buyer and seller would be well served. Following a lengthy investigation and challenging due diligence, all parties completed a successful transaction.