FOR SALE 950 SANDHILL RD RENO, NV 89521
PRICE: $9,479,000 APN: 163-031-05
Building square footage: 42,129 Land size: 2.92 AC Zoning: PUD
SHEILA COLFER, CCIM FRED MILLER, SIOR 775.850.3100 OFFICE 775.850.3100 OFFICE 775.690-5579 CELL 775.741-2400 CELL [email protected] [email protected]
333 Holcomb Ave., Ste. 300 + Reno, Nevada 89502 + 775.850.3100 + DicksonCG.com ABOUT THE PROPERTY 950 SANDHILL ROAD RENO, NV 89521
PROPERTY HIGHLIGHTS ● Located in the South Meadows submarket ● NNN Lease ● Tenant since 2004 ● Freestanding Two Story R&D Building ● 100% Leased to Scientific Games Property Site
Sandhill Rd AREA MAP
DOWNTOWN RENO
Property Site
Sandhill Rd RENT ROLL ABOUT BALLY TECHNOLOGIES
Bally Technologies, Inc. is a manufacturer of slot machines and other gaming technology based in Enterprise, Nevada. It is owned by Scientific Games Corporation.
The company was founded in 1968 as Advanced Patent Technology. It eventually changed its name to Alliance Gaming and acquired, in 1996, Bally Gaming International, a former division of Bally Manufacturing. In 2006, the entire company adopted the Bally name.
Scientific Games acquired the company in 2014. Today, Bally constitute one of the four brands of Scientific Games, along with SG, WMS and Shuffle Master.
Bally Gaming acquisition
Alliance began seeking ways to apply its marketing strength in the equipment business. Company executives felt there was a market opportunity in new riverboat and Indian casinos, where a slot maker could compete for "shelf space" without having to convince casino managers to switch from machines built by IGT, the market leader with a 70 percent share. CEO Steve Greathouse felt that machines could be made more fun, more interactive, and therefore more profitable, in contrast with IGT, whose executives believed that slot gamblers were "not playing to be entertained". Starting from scratch against such a dominant competitor was daunting though, so Alliance looked for an acquisition. The natural choice was Bally Gaming International, the number two player with a 15 to 20 percent share.
Kirschbaum had contacted Bally Entertainment about a merger as early as 1993, but Bally's CEO rebuffed him because of Alliance's heavy debt load and lack of earnings, suggesting they "develop their company a bit". Talks began again in October 1994, until Alliance broke them off in February 1995. Bally reached out to Alliance the next month through Rainwater, who discussed possibilities including a three-way merger with Autotote, a maker of lottery and pari-mutuel wagering technology.
In June 1995, with Bally already considering a buyout offer from WMS Industries, Alliance made an unsolicited offer of $210 million in cash, stock, and assumed debt. Days later, Bally's board of directors accepted WMS's offer of $120 million in stock, conditioned on Bally selling its German subsidiary, Bally Wulff, for at least $55 million. Bally called Alliance's offer "illusory and highly conditional" on financing, and said that WMS stock would give shareholders more long-term value than Alliance stock, and that a combination of Alliance and Bally would be so undercapitalized as to raise licensing concerns among gaming regulators. ABOUT SCIENTIFIC GAMING
Scientific Games Corporation is an American company that provides gambling products and services to lottery and gambling organizations worldwide. The company is headquartered in Las Vegas, Nevada. Products include electronic gaming machines, table games, iGaming and iLottery products, instant lottery games, lottery gaming systems, terminals and services, internet applications, server-based interactive gambling terminals, and gambling control systems.
Scientific Games introduced the first secure, instant lottery ticket in 1974. Through high-security techniques including complex algorithms, printing treatments, encryption and firewalls, Scientific Games ensures that no one knows where a winning ticket is. They provide lottery retailers with secure point-of-sale systems that print Mega Millions and Powerball tickets. Over time, Scientific Games has added loyalty and reward websites, where players can earn points and prizes on non-winning tickets bought at retail.
In 2012, global lottery revenues totaled $262 billion. In 2011, U.S. lottery revenues totaled $56 billion with approximately 30% of total revenues directed to government transfers. There are currently 44 states and territories in the U.S. that offer government-operated lotteries.
History
Two leading totalizator companies were combined in 1989 when United Tote purchased Autotote Systems, Inc. from Thomas H. Lee. Before the companies' operations could be integrated, the merger was challenged by federal antitrust regulators. A 1991 court ruling forced the company to split back up. The former United Tote assets were sold back to that company's founders, the Shelhamer family, and what remained of the company was renamed as Autotote Corporation. NORTHERN NEVADA MARKET OVERVIEW ICONIC COMPANIES IN RENO SPARKS
In June 2014, Tesla broke ground on its $5 billion, 10 million-square-foot Gigafactory, which is being built in phases. It manufactures lithium-ion batteries, as well as Model 3 battery packs and drive units. As of February 2017, the Tesla Gigafactory had almost 1,000 permanent employees. When completed in 2020, the Gigafactory will be the largest manufacturing facility in the world and is forecasted to employee more than 10,000 people, up from initial estimates of 6,500.
In November 2016, Switch opened the largest, most advanced data center campus in the world on 2,000 acres in the Tahoe Reno Industrial Center next to the Tesla Gigafactory. It is the first of eight planned data centers to be built at TRIC. The facility is powered 100-percent by renewable energy. Switch has connected Reno, Las Vegas, San Francisco, and Los Angeles via a SUPERLOOP which allows data to be transported between hubs in just milliseconds. eBay is an anchor tenant.
In April 2017 Google/Alphabet acquired 1,210 acres in The Tahoe Reno Industrial Center a few miles south from Tesla’s Gigafactory. The land will reportedly house a future data center and could also host a testing track for Waymo, the Alphabet-owned autonomous driving company. Nevada is pursuing legislation that would pave the way for driverless taxis.
Apple’s initial $100 million data center at the Reno
Technology Park east of Sparks is fully utilized. In May 2017, Apple announced it would invest another $1 billion into the data campus. Part of the addition will include a $4 million, 27,000 square-foot warehouse for shipping and receiving to be built on a vacant lot in downtown Reno.