Archive for the ‘Sales’ Category
Multi-Fam Sales are Poppin in Reno!
Tuesday, July 21st, 2009
Fennell & Associates Ron Boles just put 2 fourplex’s into Escrow! The Multi-Family market in Reno is finally priced to sell. Sell. SELL!!
On another Note…”The National Association of Home Builders is reporting that Nationwide housing starts and permits posted substantial gains in June as home builders responded to improved market conditions and the impending expiration of the first-time buyer tax credit. These stats comes from the U.S. Commerce Department.” – Realty Times Staff
Lots of incentives are flooding the market aiding the idea to help investors stimulate the market. Positive signs in both the commercial & residential markets shed light & perk interests. The market is indeed itching for a turnaround!
NEW Retail LISTING on MOANA LANE!
Monday, July 20th, 2009 
New Listing for Fenell & Associates Fred Miller & Cathy Shanks!
500 EAST MOANA LN.
Reno, Nevada 89502
FOR SALE
$2,100,000
20,522 Square Foot Retail Building
Traffic Count: 14,000 ADT
Prime Location
Recently Remodeled
Excellent Demographics in Well Established Neighborhood
Parking Ratio (per 1,000 Sf GLA) 3.46
New Listing for Fennell & Associate’s Aaron Smith – For Sale & Lease on Plumb & Arlington -
Tuesday, July 14th, 2009 
Aaron Smith with Fennell and Associates has new office space for sale & for lease off Plumb & Arlington. 499 West Plumb Ground Floor is for sale at $775,000 – $265.50 psf.
The Office space is for lease at $3,250/ mo including utilities.
The Building has 450 sf leased & 2455 vacant. The office space parking includes 12 or more spots, available immediately, TI’s are possible, office includes 6 treatment rooms, and a great central location!
Neighbors include The Stone House Cafe, Starbucks, Lodo Loft, and a gaggle of popular stores that inhabit Plumb Gate Plaza.
Click the Link Below for a Flyer!
More Reasons to Move your Business to Nevada – From EDAWN –
Wednesday, July 1st, 2009
WHY GROW YOUR BUSINESS IN GREATER RENO-TAHOE?
Some Great information regarding, yet, even more reasons to relocate & grow your business in the Greater Reno- Tahoe Area… from EDAWN’s Website…
Businesses of all sizes are moving to Greater Reno-Tahoe. Here are just a few of their reasons. What will yours be?
Click here for a copy of the Why Do Business in Greater Reno-Tahoe
Click here for Reno-Tahoe International Airport Highlights
Tax Benefits
- NO corporate income tax
- NO personal income tax
- NO franchise tax
- NO unitary tax
- NO inventory tax
- NO inheritance tax
- NO estate tax
Operating Benefits
- Strategic location
- Room for new and expanding companies
- Diverse labor market
- Wide range of financial resources
- Entrepreneurial services and support
- Urban, suburban, rural living options
- Quality of life
Community Benefits
- Emerging new business dynamic
- Strong sense of community
- Four vibrant seasons of recreation, arts and culture
- A balanced life pace
No matter your business, Greater Reno-Tahoe’s tax benefits and business-friendly environment can work for you. And with everything potential employees want – from entertainment options to the beauty of the Sierra Nevada – moving to Greater Reno-Tahoe can attract and retain the right people. Talk about taking the gamble out of making a move!
Bottom line: Greater Reno-Tahoe companies keep more of their profits
What Exactly Is an REO?
Friday, June 26th, 2009
Today we are going to be focusing on REO’s. What are they? Where do they come from? Who buys them? Most Real Estate Professionals know that REO means “Bank Owned” or “Real Estate Owned” & if they don’t, maybe it’s time to find a new Agent.
While discussing REO’s in everyday conversation with the general public, I have come across many-a-deer caught in luminously blinding headlights when those 3 simple letters get tossed around. So, I think it’s time to set the record straight and explore the deeper meaning of the ever so mystifying jumble of “R” + two vowels we call REO.
The Wikipedia, Free Online Encyclopedia’s definition of a REO or Real Estate Owned is “a class of property owned by a lender, typically a bank, after an unsuccessful sale at a foreclosure auction. A bank will typically set the opening bid at a foreclosure auction for at least the outstanding loan amount. If there are no bidders that are interested, then the bank will legally repossess the property. As soon as the bank repossess the property, it is listed on their books as REO – Real Estate Owned – and is categorized as an asset (non-performing).
As soon as a property goes into a distressed status (the borrower/home owner misses mortgage payments) the bank will want to determine the amount of equity that the property has. A popular method to determine the equity is to obtain a Broker Price Opinion BPO or order an appraisal. Based on the amount of equity that is determined from the BPO, the bank will decide to try for a short sale or to allow it to go through the foreclosure process. If the bank is able to sell the property through a short sale or at a foreclosure auction, then the property will not become a REO property.
After repossession and the property becomes classified as REO, the bank will go through the process of trying to sell the property on its own. It will remove some of the liens and other expenses on the home and try to resell it to the public, either through future auctions or direct marketing through a real estate broker (REALTOR). Generally speaking, bank REO properties are in poor shape in terms of repairs and maintenance; however, real estate investors will often go after these properties as banks are not in the business of owning homes and so, in some cases, the low price can more than compensate for the condition of the property.
Once a property is REO, the bank or lender will try to get rid of the property by either selling it directly themselves or through an established broker. Many larger banks such as Bank of America and Wells Fargo have REO/asset management departments that will field bids and offers, oversee upkeep and handle sales. The majority of REO properties that are on the open market are listed in MLS by the broker/REALTOR that performed the BPO.”
So, now what we know what an REO is, and that it is actually a positive opportunity for someone looking to make a purchase, we can discuss how REO’s relate to Commercial Real Estate. Just like in Residential Real Estate, REO’s inhabit the Commercial Real Estate world as well. In the Residential world, if a homeowner can’t pay their mortgage, their home usually goes back to the lender or bank where the loan originated from. After the failed auction and repossession take place, the bank has an REO on their hands. This same scenario happens frequently in the Commercial Real Estate world with buildings, land, and anything that isn’t owned outright. A building owner defaults on his or her loan payments, the building goes back to the bank, the bank auctions the property off for the outstanding loan amount, nobody bids, the bank repo’s the property, and it is then labeled an REO. This same pattern is true for land owners. Many times the bank wants to quickly rid themselves of the property. So, for a buyer, this can be a very savvy time to stumble across a deal that might otherwise be nonexistent in a different economic climate.
Fennell and Associates Commercial Real Estate Team has worked closely with many banks & buyers executing many successful REO transactions. Ron Boles, a Commercial Agent here at Fennell and Associates, currently has 3 REO properties listed for sale. Click the link below to view our inventory.
Great Reno, Nevada New Business Success Stories from EDAWN!
Thursday, June 25th, 2009 
Great Source of information from EDAWN regarding successful businesses in Reno, Nevada
Greater Reno-Tahoe is the right place for your business, but don’t take our word for it.
Hear from business leaders why they chose Greater Reno-Tahoe
The types of business that EDAWN seeks to recruit, grow, and retain are diverse in their products, services, and employment opportunities. Through innovative and creative partnerships between the public and private sectors, we strive to improve the overall quality of life in the Greater Reno-Tahoe area by facilitating economic growth.
Positive Signs of Growth For More & More Metro Areas!
Friday, June 19th, 2009
Great Article From MSN by Bill Dedman. Realistic Economic Forecasts per Metro Area, Positive Signs of Growth, Building Starts on the Rise.
Check out the Link Below!
http://www.msnbc.msn.com/id/31192872/ns/us_news-the_elkhart_project
Fennell & Associates has a NEW LISTING For Sale!!
Friday, June 19th, 2009
Fennell & Associates has a NEW LISTING For Sale, a Commercial Retail Investment Opportunity – 100% Leased – The address is 3555 South Carson St. Carson City, Nv 89701
Price $1,350,000
Contact Harvey Fennell or Todd Collins for more information!
(775) 850 – 3100
Yet Another Reason to Move your Business to Reno, Nevada..
Monday, June 15th, 2009
Did you know that Reno, Nevada is a major distribution hub for the 11 western states? This is all possible through the Transportation Network E/W I-80 N/S US. Below I’ve listed some of the major benefits you reap while having your business stationed in Reno, Nevada.
- Trucking
- 10 of the 11 western states can be service in 2 days
- Portland, Sacramento, San Francisco, Los Angeles, Salt Lake City & Boise in 1 day
- WalMart, K-Mart & JC Penny each have over 1 million Sf distribution centers in the area.
- Foreign Trade Zones
Northern Nevada has nearly 7,500 acres of Foreign Trade Zones. A f Foreign Trade Zone is designated by the US Customs Dept. and allows foreign and domestic merchandise to be admitted for storage,assembly, manufacturing and processing, without being subject to formal Customs entry, the payment of Custom Duties or the payment of federal excise taxes.
- Rail Service
Efficient rail cargo distribution is serviced by Union Pacific Rail Road, Burlington Northern Santa Pacific Rail Road.
- Air Cargo
Reno Tahoe International Airport is serviced by UPS, Fed-X; Airborne Express. In 2008 over 120,000,000 packages were handle by cargo.
- Third Party Logistics (3PL Companies)
Most of the countries major 3PL companies have a presence in Northern Nevada. Some of these companies are Jacobson Logistics, The Arnold Group, OHL formerly known as Ozburn-Hessey Logistics, Schneider Logistics, UPS Logistics,ITS Logistics, Hopkins Distribution,Eagle Global Logistics and Kuehne+Nagel.
- Distribution Centers (DC)
Some of the recognizable DC’s in the area are Arrow Electronics, Bake & Taylor, Barnes & Noble, Caterpillar Parts, General Motors Parts, Freightliner, Henry Schein, Hobbico, JCP Logistics, KMart, PetsMart, Pfizer, Merck, Sally Beauty, WalMart, & Wyeth.
With all these Business Tax Incentives & prime distribution location here in Reno, Nevada, Reno sounds like an ideal candidate for transferring or starting up a new business!
Dickson Commercial
