Business Growth Drops Vacancy to 11% in Downtown Reno

Clear Capital and Noble Studios expand. Renown relocates executive offices to downtown Reno.

Reno, NV – Basin Street Properties, a prominent downtown Reno office building owner has seen a notable uptick in new and expanding tenants. Over the past six weeks, five companies either opened new offices or expanded their existing offices, capturing 28,390 square feet of available space. The companies are in verticals you do not typically expect downtown:  Real estate technology, digital marketing and healthcare.”

“We’re seeing business growth downtown for a variety of reasons. The improving economy and the greatly improved downtown amenities are two strong drivers.” said Par Tolles, President of Basin Street Properties. “There is a vibrant and energetic feeling working in downtown and midtown right now.  And, a downtown address gives our tenants greater access to their clients as well as satisfies employee demands for easily accessible services.”

Clear Capital has expanded their space at of 300 E. Second Street from 14,581 to 18,581 square feet as it sees growing demand for its appraisal, analytics and broker products.  “Part of the reason we moved our headquarters to Reno, was to be in a better position to grow and draw on the talented graduates coming out of Nevada,” said Brian Opsal, VP of Marketing at Clear Capital.  “There is a building realization that Reno is an emerging tech hub, with talent migrating out of the Bay Area and graduating from the university.  We’re in a good position to capitalize on that.”

With close to 100 employees in their Reno office, the 14^th floor location provides great views of the city and surrounding mountains and they are right across the street from the Aces ballpark.  “A collaborative, fast paced work environment and a healthy lifestyle are intrinsic to our company culture.  Reno’s mix of urban and mountain plays well to that,” said Opsal.  Clear Capital is currently hiring for a variety of roles throughout the business. For additional information check out clearcapital.com/join-us/careers/.

Noble Studios is also experiencing growth right now. Just this month they were named to the Inc. 5000 list of fastest-growing companies in America for the third year in a row. “What that means is that as our clientele grows, so does our needs for space,” said Season Lopiccolo, Noble Studios’ COO. With the New Year, they will expand their office space to 9,670 square feet at 50 W. Liberty. The expansion will accommodate not only their current needs but plans for future growth as well. “We like to foster an atmosphere of creativity and collaboration for our Noblebots, and this space will keep that in place for years to come,” said Lopiccolo.

When asked about the draw of being downtown, Season responded, “Downtown is a truly fantastic part of town to be in. We’re very excited about the ongoing development here – everything from the growing restaurant scene to the pedestrian – and bike-friendly Riverwalk. Quite a few of our Noblebots bike to and from work, so having that easy access to bike paths is important to us. Also, the views of Reno are amazing from our perch on the eighth floor. Looking out at the city and surrounding mountains reminds us of our northern Nevada roots every day.”

Noble Studios’ clients are asking them to take on a more strategic role with their digital marketing.  As a result, they are looking for data analysts, SEO and Paid Search strategists, and overall digitally savvy marketing professionals. “We are always looking for smart, talented minds to join our team,” said Lopiccolo. Visit noblestudios.com/careers/ to check out what’s available.
At the end of the month, Renown Health will complete the move of their executive offices into Basin Street’s 50 West Liberty building, taking 16,319 feet on the 11th floor.  “When we considered moving these non-clinical offices, we realized the value of having our senior administrative staff downtown.  It is important for this to team to be a part of the downtown revitalization and embedded in the community.” said Dawn Ahner, Executive Vice President and Chief Administrative Officer for Renown Health. “This new location achieves that and integrates us with the diverse tenant base of downtown.”

Basin Street Properties owns and manages 723,646 square feet of Class A office in Reno and is leading the redevelopment of the Kings Inn.  “We are excited to be a part of the downtown renaissance and look forward to the continued growth and prosperity of Reno,” said Tolles.  Representing Basin Street Properties, Clear Capital and Renown was Dominic Brunetti and Scott Shanks of Dickson Commercial.

About Clear Capital Clear Capital (www.clearcapital.com) is the nationwide provider of residential and commercial real estate valuations, data and analytics, quality assurance services and technology solutions. The Company’s customers include mortgage lenders, servicers, investors, GSEs, and Ratings Agencies. Clear Capital products include appraisals, broker price opinions, property condition inspections, value reconciliations, appraisal review and risk scoring, automated valuation models, and home data indices. The Company’s innovative technology, experienced valuation experts, and a well-trained network of more than 40,000 field experts set a new standard for accurate, up-to-date, and well documented valuation data and assessments. Morningstar Credit Ratings issued Clear Capital its highest Residential Vendor Ranking, MOR RV1. Clear Capital’s home price data can be accessed on the Bloomberg Professional service by typing CLCA.

About Noble Studios Noble Studios is a full-service digital agency led by Jarrod Lopiccolo, Season Lopiccolo, and Michael Thomas. Headquartered in Reno, Nevada, and with a satellite office in San Francisco, Noble Studios specializes in Web, mobile, social media, and web strategy.

In August 2014, Inc. magazine released its eighth annual Inc. 500|5000 list, a ranking of the nation’s fastest-growing private companies; Noble Studios made the list at No. 2100.  For more information visit NobleStudios.com About Renown Health Renown Health is a locally governed and locally owned, not-for-profit integrated healthcare network serving a 17-county region comprised of northern Nevada, Lake Tahoe and northeast California. Renown is one of the region’s largest private employers with a workforce of more than 5,700. It comprises three acute care hospitals, a rehabilitation hospital, skilled nursing facility, the area’s most comprehensive medical group and urgent care network, and the region’s largest and only locally owned not-for-profit insurance company, Hometown Health. Renown has a long tradition of being the first in the region to successfully perform leading-edge medical procedures. For more information, visit renown.org/about-us.