Reno, NV (October 15, 2018) – Basin Street Properties, a prominent Northern Nevada real estate investor and developer, has signed a lease with Internet of Things (IoT) technology firm Breadware for 6,911 square feet in its 200 South Virginia Street building.
“The IoT market is exploding,” said Daniel Price, Co-founder, and CEO of Breadware. “By 2020 there will be 24 billion IoT enabled devices, and 95% of all new electronics will have IoT capabilities.” According to PricewaterhouseCoopers, $6 trillion will be spent on IoT solutions between 2015 and 2020.
“Companies like Breadware are the future of Reno,” said Scott Stranzl, Vice President of Leasing at Basin Street Properties. “We’re excited to have them as a tenant in downtown Reno and look forward to helping them grow.” Breadware originally came to Reno from Santa Barbara in March of 2017 with eight employees. Today Breadware has eclipsed 30 employees with 70% of their new hires already living in Reno.
“As we outgrew our current location and considered other options, we realized how much we wanted to stay in downtown Reno,” said Price. “We really love the convenience and character of downtown and the great variety of downtown and midtown dining and nightlife options.” Breadware grew out of their Innevation Center location just a few blocks from 200 South Virginia.
Breadware recently unveiled three new tools to help meet this growing demand. Companies can use Breadware’s new online tools to plan their IoT product, determine the cost and schedule, find development resources and partners, and efficiently manage their IoT projects.
“There’s a lot to do,” said Breadware’s Price. “We expect Breadware to grow with this market and hope to be over 50 employees by 2020.” Breadware’s team is planning to hire a variety of positions including mechanical engineers, electrical engineers, and software developers.
200 South Virginia is a nine-story, 117,780 square foot Class A office building with panoramic views of the surrounding Sierra Mountains, Truckee Meadows, and downtown Reno. It has a direct conduit to the AT&T regional switch which sits on east/west fiber backbone providing redundant connectivity through multiple fiber vendors and redundant power. Home to NOCs (network operation centers), redundant collocation centers & emergency backup data centers, this facility is fiber lit with Gbps speeds & central office infrastructure. Abundant parking is available in an adjacent parking garage.
Representing Basin Street Properties was Lindy Deller, Scott Shanks and Dominic Brunetti of Dickson Commercial Group. Joel Fountain & Baker Krukow, also with Dickson Commercial Group represented Breadware.
Breadware is the leading platform for planning and delivering smart, connected products. Breadware decreases time to market, reduces development costs and simplifies the process of developing a connected product. Breadware empowers everyone from startups to enterprise customers, experts or not, to get smart products to market quickly, efficiently and cost-effectively.
Established in 2015, Breadware has offices in Reno, Los Angeles, and Bengaluru. Breadware was named the Best IoT Development Solution at IoT Evolution Expo, 2018.
About Basin Street Properties:
Basin Street Properties, headquartered in Reno, is one of Northern California and Northern Nevada’s prominent developers, investors, and managers of commercial properties. Basin Street has become widely recognized for its office, retail, multi-family, hospitality, and mixed-use developments. Founded in 1974, the company offers a broad range of real estate services, including development, property management, construction management, financial and asset management, and property acquisition and disposition. For more information, visit basin-street.com or contact Mike Williams, 775-954-2821, firstname.lastname@example.org.