Novulis Opens New Offices at 2365 Iron Point Road in Folsom

Client/Asset: Basin Street Properties Portfolio – Office & Retail Buildings

Challenge: Aging lighting systems across several properties were driving high energy costs, creating inconsistent lighting quality, and raising safety concerns for tenants.

Solution: Basin Street partnered with Pacific Energy Concepts (PEC) to design and implement a comprehensive LED retrofit strategy. The solution included a full audit of existing systems, customized fixture selection for both interior and exterior applications, and the installation of smart lighting controls to optimize energy use. The project team coordinated closely with tenants to minimize disruption, scheduling work during off‑hours and providing clear communication throughout the process. Beyond simple replacement, the plan focused on improving lighting quality for safety and aesthetics, especially in parking areas, stairwells, and lobbies.

Results: - Reduced annual energy consumption by 162,625 kWh across the portfolio

Improved tenant comfort and safety in parking and common areas
Lowered OpEx and boosted property sustainability profile
Basin Street Properties earned ENERGY STAR Premier Member status by upgrading 23 buildings across the Sacramento and Reno markets—this included LED lighting upgrades, along with EV charging, solar installations, and water reduction measures.

Owner Impact: Enhanced NOI through cost savings and increased tenant satisfaction, strengthening retention.

Quote (sample framing):“By modernizing our lighting, we’ve created a safer, more welcoming environment for tenants while significantly reducing operating costs.”
Jesse Mancillas, Director of Engineering

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Client/Asset: Basin Street Properties’ Sacramento Office Portfolio

Challenge: In Sacramento’s highly competitive office market, tenant retention was becoming increasingly tied to workplace experience. Owners and brokers sought differentiated amenities to keep tenants engaged.

Solution: Basin Street introduced Concierge Services across its Sacramento Class A office portfolio, modeled after high‑end hospitality programs. The service offering included curated partnerships with local vendors, from catering and wellness providers to event planners and travel services. A dedicated concierge team coordinated requests through a streamlined platform, making it easy for tenants to access services on demand. Marketing materials, property signage, and tenant communications were updated to highlight this differentiator. The program was intentionally designed to enhance tenants’ day‑to‑day operations, reduce friction in workplace logistics, and create memorable experiences that tie tenants more closely to the property.

Results:

First regional operator to roll out full concierge program in Sacramento
Increased tenant engagement and workplace satisfaction scores (tracked via surveys)
Positive press coverage in Sacramento Business Journal, elevating brand profile

Owner Impact: Improved tenant retention, enhanced leasing appeal for prospective tenants, and positioned assets competitively in the market.

Quote:“Concierge Services helped us deliver a higher level of service that tenants now expect, and owners benefit directly through retention.”
Elaine Nelson, Director of Property Management

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Client/Asset: Basin Street Properties Portfolio – Reno, Sacramento, and North Bay

Challenge: Owners faced occupancy pressure across multiple markets due to evolving office demand and economic headwinds.

Solution:
Basin Street deployed a coordinated leasing and management strategy, blending proactive outreach, targeted marketing, and close collaboration with brokers. Leasing teams launched digital and in‑person campaigns for vacant spaces, including property tours, virtual walkthroughs, and promotional incentives tailored to each market.

Property managers ensured tenant improvements were executed quickly and to high standards, reducing downtime between leases. Renewal negotiations were handled with an emphasis on long‑term value, offering creative solutions like phased expansions, flexible layouts, and amenity upgrades. Market research and data analytics informed pricing, ensuring competitiveness without sacrificing NOI.

Results (2023):

76 new leases signed, totaling 294,408 sq. ft.
124 renewals executed, totaling 444,150 sq. ft.
Maintained an 89% portfolio occupancy rate
New tenants included Samsung Electronics, Gannett Fleming, and Pacific Charter Institute
Renewals included Ameriprise Financial, BlackRock, and National Instruments

Owner Impact: Stable occupancy and NOI across our markets; demonstrated Basin Street’s ability to navigate unsettled market conditions and deliver results.

Quote (sample framing):“Even in a challenging market, we kept occupancy high and delivered quality tenants that support long‑term asset value.”Jacob Chaparian, Director of Leasing

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Redevelopment and Transformation of 3rd Street Flats

Client/Asset: 3rd Street Flats – Reno, NV (Mixed‑Use Redevelopment of Former Kings Inn Hotel & Casino)

Challenge: The Kings Inn Hotel & Casino, a long‑vacant and blighted property in downtown Reno, had become a symbol of urban decline. The project required vision, capital, and expertise to reposition into a viable, income‑producing asset.

Solution: Basin Street in partnership with Bentar Development assembled a multi‑disciplinary redevelopment team to completely reimagine the property. This included securing financing, working with city officials on zoning and approvals, and designing a mixed‑use concept that combined residential with street‑level retail.

The construction phase involved a full gut renovation, structural reinforcement, and modernized building systems. Interior layouts were redesigned to create contemporary apartment homes with premium amenities such as a fitness center, rooftop deck, and resident lounge. Externally, the design emphasized pedestrian‑friendly retail and activated the streetscape to connect with the surrounding neighborhood. Throughout the process, Basin Street coordinated closely with community stakeholders to ensure the project aligned with downtown revitalization goals.

Results:

Delivered 94 market‑rate apartments with amenities like a fitness center, rooftop deck, and resident lounge
Activated the streetscape with new retail spaces, improving neighborhood vitality
Earned industry recognition, including NAIOP Northern NevadaMixed‑Use Development of the Year

Owner Impact: Converted a non‑performing asset into a stabilized, income‑producing property that enhanced downtown Reno’s appeal.

Quote (sample framing):“This project turned a liability into a community landmark—creating value for owners, residents, and the city as a whole.”
Matt White, CEO Basin Street Properties

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Basin Street News

Novulis Opens New Offices at 2365 Iron Point Road in Folsom

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