November 30, 2016
Oliver Luxury Real Estate took it’s team on a private tour of the Tahoe Reno Industrial Center last month. As they drove through this developing massive industrial center, it was evident that it would impact the job and housing markets greatly. With large companies entering our Reno-Tahoe areas, it’s just a matter of time until Reno becomes a major international business hub! Here is insight into why:
About Tahoe-Reno Industrial Center
TRIC is a massive 107,000-acre park that encompasses a developable 30,000 acre industrial complex with pre-approved industrial and manufacturing uses. The unique qualities of the park and the county in which its located allows companies to expedite their building process to meet necessary deadlines. Located just 9 miles east of Reno on I-80, the park is in an ideal location to for direct access to major freight routes. Also, the location serves the eleven western states with one-day shipping. There are approximately 11 million square feet of industrial space already in use by over 130 companies. Currently, there are four 5,000 acre phases now available for development.
Now in Reno:
All of us at Oliver Luxury Real Estate would like to give a big welcome to our new Reno crew! We are excited to move into this fast-growing market with such an excellent team. The Oliver brand was structured on a platform of knowledge and ethics that resonates amongst our agents. The goal is to create an enjoyable client experience that fosters a strong sense of support. We have a modest collection of select agents that work as a team to facilitate the needs of their clients while sustaining reliable broker support. We are thrilled to bring The Oliver experience, talent and professional group of agents and brokers along with the Christie’s national and international network to RENO.
State officials have predicted that Nevada will add nearly 426,000 people over the next 20 years. According to the Nevada Department of Taxation, Clark and Washoe Counties are expected to grow the most from 2015 to 2035. With expected increases of 320,000 people in Clark County and another 84,000 people in Washoe County, the real estate market will be the first affected by the increase as housing will be in high demand.
Tesla officially opened its Gigafactory earlier this year which is just over two years after construction began. The factory is nearly 14 percent complete and when construction is finished it will be approximately 10 million square feet. That is about the size of 262 NFL football fields! This massive Gigafactory will become one of the largest buildings in the world once construction is complete.
As large as this project is, there is no shortage of work in this industrial park. So far there have been over 1000 jobs created in the building process alone. As this building continues to grow in size, Reno will continue to see an influx of job opportunities. Tesla CEO Elon Musk stated that the factory could easily employ 10,000 people in the next three to four years.
Switch is the world’s largest data center with two locations strategically placed for efficiency and is the only Tier IV Gold colocation data centers on the planet! These massive data centers have become the world’s largest active data center ecosystems with a 7-millisecond reach to the Bay Area basin and the Los Angeles metro area. Switch SUPERNAP CEO and Founder Rob Roy saw the innovative and distinct advantages for clients. To ensure that Switch utilizes the full capabilities of their company, the construction of the second SUPERNAP location in Reno is key to their success!