3 Acres Mixed-Use Zoned Land Located Along Interstate 580 Virbel Lane, Reno, Nevada

FOR SALE

±3 ACRES MIXED-USE ZONED LAND LOCATED ALONG INTERSTATE 580 VIRBEL LANE, RENO, NEVADA

< To Lake Tahoe Downtown Reno University of Nevada, Reno

±46 Acre Mixed Use Peppermill Casino Development (Under Firecreek Resort Spa Crossing (Power Moana Lane Construction) Center)

Reno/Sparks S. Virginia Street Convention Center Atlantis Casino Resort Spa

Airport Square: Costco, Mor Furniture for Less, Kietzke Lane REI

Subject Site

Alpine Vista Condominiums Neil Road Recreation Center Reno/Tahoe International City of Reno Airport Park & Police Alder Creek Substation, Villas Apts. Boys & Girls Peckham Lane Neil Road Club, St. Mary’s Medical Clinic

www.cbre.com/reno FOR SALE INTERSTATE 580 AT VIRBEL LANE ±3 ACRES MIXED-USE ZONED LAND RENO, NEVADA

PROPERTY OVERVIEW

Highly visible ±3 acre site located alongside Interstate 580 in South Reno. Property is zoned Mixed Use and situated in the Convention Regional Center plan area. Previously planned for 105 condo-mapped units. Approximately ±29.40 acre feet of water rights can be included (per Truckee Meadows Water Authority).

SALE DETAILS: ++ Offering: ±3 acres of land located alongside I-580 at Virbel Lane in Reno ++ Sale Price: $1,000,000 ++ Zoning: MUCC - Mixed Use/Convention Center ++ Flood Zone: X (outside of the 100-year flood zone) ++ Utilities: City of Reno (sewer); TMWA (water) ++ APNs: 020-481-01 through 10; 020-482-01 through 020-482-27; 020-483-01 through 020-483-55; and 020-484-01 through 202-484-06 and 020-484-33 through 020-484-39 ++ Uses: Ideal for a residential condo, multifamily development (105 condo mapped parcels) or self-storage project.

CONTACT US © 2019 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. Any projections, opinions, or estimates are subject to uncertainty. The information may not represent the current or future performance of the property. You and your advisors AIMAN NOURSOULTANOVA, CCIM should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated +1 775 823 6983 or related companies in the United States and other countries. All other marks displayed on this document are [email protected] the property of their respective owners. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited.

www.cbre.com/reno FOR SALE INTERSTATE 580 AT VIRBEL LANE ±3 ACRES MIXED-USE ZONED LAND RENO, NEVADA

INVESTMENT HIGHLIGHTS

++ Highly visible site along I-580 in South Reno

++ Mixed use zoning allows for multifamily, residential or self storage uses, among others

++ Centrally located near the convention center, Meadowood Mall, the Atlantis Casino Resort Spa, commercial/retail and other employment centers Virbel Lane ++ Easy access to major thoroughfares and the Reno/Tahoe International Airport

++ Property is condo mapped for 105 units

++ ±29.40 acre feet of water rights available (per TMWA)

9.34

7 1 Assessor's Map Number . 1 5

0 (#1872) 0 .

0 5 020-48

7 2 . AMENDED PLAT OF SUMMERSNOW 4

2 5 3

6 STATE OF NEVADA

6 4 CONDOMINIUMS 1 WASHOE COUNTY ASSESSOR'S OFFICE

Also known as 0 Michael E. Clark, Assessor 7 . VIRBEL LANE 6 8 1001 East Ninth Street ALPINE VISTA Building D Reno, Nevada 89512 1/189th UNDIVIDED INTEREST (775) 328-2231 IN COMMON AREA

PORTION OF THE NW 1/4 OF SECTION 30 .

2 T19N - R20E 5

Feet

7 . 0 50 100 150 200

1 1 inch = 200 feet 0.42 0

3 2 1

. 8 5

0 9 PATIO PATIO

5 0

12.50 12.58

Sparks

0.90

Reno

020-480-00 TYPICAL TYPICAL E 4.84 ac. 9.00 8.00 END INTERIOR T

A 2

UNIT UNIT 1

7 T .

5 S

END INT. E

3 0 T

. CAR CAR 0 020-21 020-22 020-23

2 N PORT PORT 12.10 12.10 I 020-28 020-05

3 5

8 0 .

4 . 020-31 13.06 13.00 0 020-25 6

020-27 3 020-46

8 3 4. 5 6

SCALE : 1" = 20' . 6

5 COMMON AREA 020-34 2

6 E 7 025-01 0 8 . 5 . 4 C . 8 020-35 7 A 1 4 1 L 2 4 P .0 0 020-481-00 6 1 .92 024-05 15 144 6363 sf 0 0 0

0 .

. 9

2 7

10 118.92 Å

created by: ___T__W__T_ _3_/_6_/_2_0__1_5______EA ST last updated: ___T _W___T_ _8_/_2_4__/2__0_1_5______

M area previously shown on map(s)

U ______0 _2_0__-_3_7______

N PE CK HA NOTE: This map was prepared for the use of the M Washoe County Assessor for assessment and illustrative purposes only. It does not represent a survey of the premises. No liability is assumed LA as to the sufficiency or accuracy of the data NE delineated hereon. SMITHRIDGE DR. www.cbre.com/reno FOR SALE INTERSTATE 580 AT VIRBEL LANE ±3 ACRES MIXED-USE ZONED LAND RENO, NEVADA

Submarket Map Legend: Virbel Lane

1) Subject Site Road Neil

2) Alpine Vista Condominiums

3) Neil Road Recreation Center, Miguel Ribera Park, Neil Road Family Services Center with 1. Boys and Girls Club, 4. Community Health Alliance, Reno Police Substation, St. Mary’s Medical Clinic 3. 4) Silver Sage Senior Apartments

5) Alder Creek Villas 2. Apartments Model Way 6) A-American Self Nutmeg Place Storage

Peckham Lane 5.

www.cbre.com/reno FOR SALE INTERSTATE 580 AT VIRBEL LANE ±3 ACRES MIXED-USE ZONED LAND RENO, NEVADA

SUBMARKET OVERVIEW

Located in the City of Reno’s Convention Center Regional Plan area, this property is well suited to capitalize on current and future development. This regional center consists of the Reno-Sparks Convention Center, the Meadowood Mall, various hotels and casinos, shopping centers, office buildings and residential properties.

ZONING OVERVIEW:

The property’s mixed use zoning allows for flexibility in potential uses and is well suited for residential, multifamily, or self-storage development. To help encourage new development, most projects internal to the Regional Center are allowed to proceed without further discretionary review and apply for building permits. Incentives for development include lowered setbacks and landscaping standards, as well as decreased minimum parking requirements. Reno/Sparks Convention Center

Boys and Girls Club, Community Services Center Neil Road Recreation Center www.cbre.com/reno FOR SALE INTERSTATE 580 AT VIRBEL LANE ±3 ACRES MIXED-USE ZONED LAND RENO, NEVADA

University of Nevada, Reno

Downtown Grand Sierra Reno Resort

±46 Acre Mixed Use Development (Under Construction)

Kietzke Lane Peppermill Casino Resort Spa Reno/Tahoe International Moana Lane Airport Atlantis Casino Resort Spa

Subject Site

Reno/Sparks Convention Peckham Lane Center

S. Virginia Street

Smithridge Plaza: Trader Joe’s, Toys R Us, CVS, Steinmart, Big Lots Bed, Bath, Beyond, Cost Plus, Nordstrom Rack, TJ Maxx, Sam’s Club & more

www.cbre.com/reno FOR SALE INTERSTATE 580 AT VIRBEL LANE ±3 ACRES MIXED-USE ZONED LAND RENO, NEVADA

NORTHERN NEVADA REGIONAL OVERVIEW

In 2018, Area Development ranked Reno among its “Top 10 Leading Metro Locations.” Specifically, Reno ranked first among mid-size metros for “Economic Strength” and fourth overall. This business-friendly tax environment has created many possibilities for out-of-state companies to locate facilities here including Apple, Amazon, Google, Switch and Tesla/Panasonic. As noted by local economic development officials from a recent study called the “EPIC” report, the region is forecast to create approximately 50,000 jobs and population growth of over 60,000 new residents between 2015 and 2019. Current employment is approximately 230,000 people with a population of approximately 500,000 in the metro area.

According to the study, the Washoe County region is seeing steady and improving demographic and employment growth. The economy is becoming increasingly diversified due to a proactive regional business recruitment and retention strategy. Northern Nevada is supported by locational/transportation advantages which include access to Interstate 80, Union Pacific Mainline Rail, inexpensive redundant power sources and superior fiber connectivity. The infrastructure supports the region’s emergence as a powerhouse in worldwide technology-based commerce.

In fact, over 100 companies have relocated to the Reno-Sparks region within the last three years. As recently as August 2016, an EDAWN (Economic Development Authority of Western Nevada) reported that the region is on track to meet the projected 52,000-plus new jobs and 47,000-plus new residents by 2020. Meanwhile, the U.S. Labor Department reported that Nevada as a whole experienced the top employment growth rate in the country during 2017, with year-over-year job gains at 3.3 percent ending in December.

www.cbre.com/reno FOR SALE INTERSTATE 580 AT VIRBEL LANE ±3 ACRES MIXED-USE ZONED LAND RENO, NEVADA

RECENTLY RELOCATED AND EXPANDED EMPLOYERS

Over 100 companies have relocated to the Reno- Sparks region within the last three years including big name companies such as Tesla/Panasonic, Switch, and leading technology companies such as a Cupertino, California-based iPhone manufacturer and a multinational internet search engine leader based in Mountain View, CA. Some of the notable companies that have recently located or expanded to Northern Nevada include:

++ Tesla/Panasonic: Tesla/Panasonic selected Northern Nevada as their location for the world’s largest Gigafactory focusing on manufacturing of cutting edge technology advanced energy storage. ++ Switch: Switch is the world’s largest data center at 1.2 millions square feet. Switch has completed their ++ Clear Capital - Clear Capital with 400 finance and technology construction for a total of 7 buildings and 6.49 million square feet jobs recently moved its headquarters to Class A office space in of high tech data campus on 1,000 acres. Downtown Reno. ++ Multinational Technology Company: A multinational ++ Alchemy - Software services and solutions company. This technology company/notable iPhone maker based in Cupertino, innovative tech company works to improve software development CA acquired 345 acres in the 2,300 acre Reno Technology Park for companies and students through the use of cloud-based and is currently under construction on its $1 billion iTunes data optimization tools, applications, training and services. center. ++ Breadware - Hardware development company that designs and ++ Multinational International Search Engine Leader - A builds custom electronics. Breadware will be located in the multinational technology company/internet search engine leader Innovation Center in Downtown Reno, a tech hub formed by a based in Mountain View, CA recently acquired 1,200 acres in the partnership with the University of Nevada, Reno. Tahoe Reno Industrial Center for a future data center.

www.cbre.com/reno FOR SALE INTERSTATE 580 AT VIRBEL LANE ±3 ACRES MIXED-USE ZONED LAND RENO, NEVADA

REGIONAL EMPLOYERS MAP EMPLOYERS MAP - NORTHERN NEVADA

CoCColdold SSpringsprp inngsg LeLemmonmmmono ValleyVala leley

INTERSTATE 80 Reno-SteadR Airport SpSSpanishpaannish SSpringsprrings

INTERSTATE 80

50 FeFFernleyrnnleey To Lake Tahoe 95 Ski Resorts: SuSunn ValleyVaV lleye GoGGoldenldldene ValleyVala leey 445 395 Reno Technology Park iCloud Data Center

Sparks

650 WALMART Distribution Center

INTERSTATE 80 Distribution Center McMMcCarrancCaCarrrrann Reno

VVerdierdi MoMogulogugul

INTERSTATE 80 (Software)

INTERSTATE 580

Braeburn Capital

Licensing

INTERSTATE 580

N .com

© 2018 CBRE, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. All Rights Reserved. Sources: CBRE Location Intelligence Group (877) 580-4674; ESRI, StreetPro, Microsoft Bing. 349154 03/21/2018 www.cbre.com/reno