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Colliers International brings unique headquarters campus to market in Reno, NV

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Colliers brokers Melissa Molyneaux and Chris Fairchild are marketing a 1,251,179 SF flex office campus for sublease in Reno.

Reno, NV, April 19, 2021 - The COVID-19 pandemic has caused many large occupiers of commercial space including, International Game Technology (IGT), to re-evaluate its real estate portfolio and seek new ways and places to conduct business more efficiently. IGT has long been the darling of Northern Nevada having committed to the area in 1996 when it constructed its 1.2 million square foot corporate campus. It has since been one of the area’s largest employers. IGT is still very committed to the northern Nevada area. If a tenant chooses to occupy its entire campus, IGT will opt to conduct a search to find a replacement property in the area that better aligns with the company’s objectives and long-term plans. Their relocation will allow a new user to occupy their Class A campus.

A recent trend has emerged with high profile companies fleeing costly states to lower cost regions such as Nevada and Texas. IGT has enjoyed the growing and diverse labor pool, favorable tax structure, and low cost of living offered by Northern Nevada. With IGT’s high-profile corporate campus now available, other tech companies can look to Northern Nevada as a relocation option and reap the same benefits.

The IGT Campus is the fourth-largest commercial asset in the northern Nevada region, rivaled only by Tesla’s Gigafactory, McCarran Commerce Center, and JCPenney Distribution Center, and is a unique opportunity for a company looking to relocate or expand in this booming market. The campus spans seven interconnected buildings with five office/flex/warehouse buildings along with a cafeteria/gym building and a childcare facility, making it an ideal location for the most innovative of companies to recruit and retain top talent. The property is located at 9295 Prototype Drive in the South Meadows submarket of Reno and includes a mix of office, research and development, warehouse, and manufacturing space.

The broad mix of space uses on such a large contiguous campus-like environment will attract many high revenue companies in industries ranging from software and manufacturing to logistics and biotechnology. There is ample parking on site and furniture and racking are available. The property is near I-580 and the campus is served by a private ring road. The property offers abundant power that is both affordable and dependable. Nevada has some of the west coast’s lowest power rates and very little disruption to service.

According to Northern Nevada native and listing broker, Melissa Molyneaux, “There is truly no other property like this available in the region or the West Coast. The campus presents the opportunity for the relocation of corporate headquarters from markets with challenging economics to a business friendly one where companies thrive, and business is booming. The property has an immense amount of infrastructure including excess power and upgraded, high-end finishes. This coupled with the low cost of living in our region, low taxes and low power rates make this an opportunity that should not be overlooked by office and industrial users. Finally, the asset can be made available immediately, so users do not have to wait on long construction timelines.

Nevada has become the fastest growing state in the country for the second year in a row and has also become a target for companies relocating outside of high-cost regions. Companies are finding that the ease of doing business, coupled with favorable taxes and incentives, is creating an unparalleled motivation for business leaders to focus on Northern Nevada. New companies expanding in Reno in recent years include Google, Tesla, Switch, Apple, and Blockchain.

Colliers International is excited to bring this available property to the market and find a new tenant for IGT’s Reno campus. The large scale of the campus and its flexible uses are ideal for major employers looking to enter the Reno market. For more information on this unmatched opportunity, please see the links to the property website, marketing brochure, and video below or reach out to Melissa Molyneaux or Chris Fairchild directly.

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About Colliers International
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.

About IGT
IGT (NYSE:IGT) is the global leader in gaming. We deliver entertaining and responsible gaming experiences for players across all channels and regulated segments, from Gaming Machines and Lotteries to Sports Betting and Digital. Leveraging a wealth of compelling content, substantial investment in innovation, player insights, operational expertise, and leading-edge technology, our solutions deliver unrivalled gaming experiences that engage players and drive growth. We have a well-established local presence and relationships with governments and regulators in more than 100 countries around the world, and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has approximately 11,000 employees. For more information, please visit www.IGT.com.

Media Contact:
Bob Shanahan
Research Manager
Colliers International | Sacramento
+1 916 563 3018
bob.shanahan@colliers.com

 

 


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Melissa Molyneaux

Executive Vice President

Reno

Melissa is an Executive Vice President with Colliers International. Her area of specialization is office properties and her focus includes landlord and tenant representation in leasing and sales. Melissa served as the Executive Managing Director of the Reno office from 2015 to 2020.

Melissa is an active member of the community and has served on many boards, foundations and committees. She is the past president of Commercial Real Estate Women (CREW) and the College of Business Alumni Association (COBAA), as well as now being a lifetime Emeritus member.

Currently she is on the US Bank Advisory Board and a board member of EDAWN Board of Trustees. In addition, she is a member of the Northern Nevada CCIM Chapter, Commercial Real Estate Women (CREW), Economic Development Authority of Northern Nevada (EDAWN), and the Northern Nevada/California Society of Office and Industrial Realtors (SIOR) Chapter. Melissa is a graduate of the Leadership Reno-Sparks Class of 2009. She founded The Group in 2006 to help collaboration among women in business.

Melissa is a native Nevadan and enjoys the outdoor activities Northern Nevada offers, along with her husband Brian, daughter Charlotte, son Brennen and their two dogs. She is a fitness enthusiast and enjoys running, triathlons, Bikram yoga and cross-country skiing.

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Chris Fairchild

Executive Vice President

Reno

Chris specializes in industrial property leasing, sales, and investments in the Reno-Sparks and Northern Nevada market.  Chris spends the majority of his time focusing on industrial tenant and buyer representation.   Chris has been fortunate to work with many local, regional, and national companies with their real estate needs, delivering exceptional results, and creating long-term relationships.

Chris has experience negotiating a variety of complex real estate transactions including national and regional distribution facilities, corporate headquarters, data centers, manufacturing plants, and fulfillment centers.

Chris is a member of Colliers Logistics and Transportation Solutions Group.  Leveraging this national platform, Chris’ team has delivered custom-fit logistics solutions to his client’s supply chain needs which have led to many success stories and multi-market assignments.

Chris takes a hands-on approach with his clients and is passionate about understanding their business needs. He and his team drive value for his clients with their superior knowledge of the market, their transaction processes, and punctual communication.

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