Tahoe Reno Industrial Center developer buys Reno’s Pennington mansion

May 24, 2015

Jason Hidalgo, Reno Gazette Journal 10:33 a.m. PDT May 20, 2015

Residents of Reno’s Manzanita Lane, meet your new neighbor.

Real estate magnate Don Roger Norman closed on Reno’s Pennington mansion Friday afternoon, officially gaining ownership of the 19,500-square-foot property.

The San Diego-based industrial and commercial real estate developer was represented by Chase International as well as Lance Gilman, his partner in the development of the Tahoe Reno Industrial Center.

“A couple months ago I mentioned to Lance that I was considering moving to Nevada, as we have considerable investments here, and I wanted to be close to TRI because of all the action out there right now,” Norman said. “Lance told me ‘I know just the right property for you.'”

The identity of the Pennington mansion’s buyer has been the subject of much speculation in the community, with Tesla Motors CEO Elon Musk thought by some to be the person looking into the property. Ultimately, the buyer proved to be someone from California — just not the entrepreneur some folks were expecting.

For Gilman, however, having Norman and wife Liza’s move to the area is a positive sign of things to come.

“The Truckee Meadows is no longer home to just struggling gambling towns,” Gilman said. “High level executives and highly skilled, cutting-edge factory and data storage managers are coming in every day now looking for a home.”

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Sandoval: $1B Switch data center coming to Reno area

January 19, 2015

Jason Hidalgo, RGJ 10:52 a.m. PST January 16, 2015

switch2Las Vegas-based Switch plans to build a 3 million square-foot data center project in Northern Nevada, Gov. Brian Sandoval announced in his State of the State speech Thursday evening.

“Switch is scheduled to expand to Northern Nevada, bringing $1 billion of investment with it,” Sandoval said during his State of the State speech. The company will also invest an additional $1 billion to expand its existing operations in Las Vegas.

The project is considered a big win among economic development circles for a region that has focused on diversifying away from gaming, tourism and construction after the recession. Switch’s “supernap” project also includes the development of a fiber optic network that will connect Reno, Las Vegas, Los Angeles and San Francisco — something the company calls a “superloop” and will dramatically increase the speed information can travel among the cities.

The announcement continues a string of major economic development victories for Northern Nevada, which includes landing Tesla Motors’ $5 billion gigafactory battery plant late last year and Apple’s $1 billion data center in 2012. And like those companies, Switch’s data center expansion will include a tax incentive deal, according to a state economic development official.

The data center campus will be built in phases on a 1,000-acre site — about the same acreage for Tesla Motors’ gigafactory site — at the Tahoe Reno Industrial Center just east of Reno. Switch expects the overall project to take five to 10 years but its first facility should be open by the second quarter of 2016, said Adam Kramer, vice president of government and public affairs for the company.

Kramer did not give an employee headcount and average salary for the Northern Nevada site. Kramer did say that Switch employs 400 people at its Southern Nevada data center, which will expand from its current 2 million square feet to 3.5 million square feet. The Las Vegas operation also has an additional 5,000 people who work on the site for Switch’s clients.

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John Solari: Tesla’s economic multiplier looks good

January 5, 2015

John Solari 11:02 p.m. PST December 21, 2014 Reno Gazette-Journal

teslaNow that much of the dust has settled over the Tesla deal that will bring the world’s largest battery plant to Northern Nevada, one big questions remains — will the economic projections surrounding Tesla actually pan out?

The Governor’s Office of Economic Development has done a great job parsing the economic projections behind the Tesla jobs figures. But there are some interesting macroeconomic trends that are making the Tesla deal look better by the day.

Here is a brief recap of the economic multiplier that was used to project Tesla’s impact on Northern Nevada. Tesla is projected to create 6,500 direct jobs, all of them by 2018. Another 7,814 indirect jobs are projected from suppliers, distributors and other associated industries. Then, 8,402 induced jobs are estimated from the increased demand of this new workforce spending within the community. That totals 22,715 jobs.

There have been many questions about these calculations, and it should be reiterated that no projections are perfect in a fast-changing economy. But here are three reasons why Tesla’s economic multiplier projections are looking even more promising today than when the Tesla deal was approved:

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Historic Nixon Mansion up for sale after restoration project

August 13, 2014

RENO, Nev. (MyNews4.com & KRNV)

nixon_mansionA historic property in Reno is on the market, and News 4 got an exclusive inside look at the multi-million dollar mansion.

The historic Nixon Mansion on California Avenue is back on the market after ten years of restoration work.

Senator George Nixon died shortly after the mansion was completed, but the estate remained occupied by notable families in Reno until the end of the 1970’s. That is when the mansion suffered a significant fire, destroying much of the inside.

Many of the lights throughout the mansion are the original fixtures, and you cannot miss the nine fireplaces, eight bedrooms, and nine bathrooms.

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Multi-million dollar homes shown on Lake Tahoe tour

July 1, 2014

Griffin Rogers, June 27th 2014, The Record Courier

multi_million_dollar_homes_shownMulti-million dollar homes on desirable beachfront properties in Lake Tahoe were shown off Wednesday during Chase International’s 18th annual Lake Tahoe Lakefront Estates Tour.

The 20 properties showcased on the invite-only tour ranged from about $2 million to about $28 million. Many featured sandy beaches, stunning views, gated yards, indoor or outdoor pools, boathouses, docks and more.

“Every piece of Lake Tahoe has magic to it,” said Shari Chase, founder, president and CEO of Chase International Real Estate, “and I think it’s finding the magic that suits you.”

About 400 to 500 people participate in the annual event, which draws brokers and clients from the Bay Area and beyond. Several locals also joined the tour to find their possible dream home or see what lakefront properties are selling for on the current market.

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