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AES Industries Moves Facility to Reno Nevada

a manufacturer of roof curbs and drop box diffuser systems based in Tallassee, Alabama moved their operation to Reno, Nevada
(Reno, NV) AES Industries, a manufacturer of roof curbs and drop box diffuser systems based in Tallassee, Alabama moved their operation to Reno, Nevada from Yerington.

Their products will serve clients in the 11 western states. AES had a long list of requirements for their new facility and Carole Brill of Miller Industrial Properties located the right fit for them at 14325 Mt. Lola, Reno, Nevada, a 9,600sf industrial building on 1.5 acres. The seller was Verdi Investments LLC.
Carole Brill - Miller Industrial Properties

Carole Brill
Vice President
W – (775) 828-4665 X14
C – (775) 338-3844
F – (775) 828-9503
Email: carole@mipnv.com

Messenger Moldings select Brad Lancaster for Reno Land Sale

messenger molding

When Messenger Moldings moved to Reno, they acquired some extra land in case an expansion was needed. Recently, the owners decided to sell off the excess parcel and selected Brad Lancaster with Miller Industrial Properties to look for a buyer.

Although land sales in the past few years have been almost nil, Brad located a buyer and closed the sale on the property in late June, 2012.

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About Messenger Moldings

Messenger Molding, Inc., is an ISO Certified plastic injection molding company specializing in tight-tolerance, high volume precision mold design and manufacturing at prices competitive in today’s market.

http://www.messengermolding.com

Q2 2012 Northern Nevada Industrial Market Status and Forecast

Reno, Sparks and I-80E Corridor

The remainder of 2012 is expected to produce moderate absorption. Elections and European issues are cooling the market activity. Download the Q2 2012 Industrial Market Report.

Industrial Market Status for Northern Nevada, Reno, Sparks and I-80 East Corridor

Industrial Market Status for Northern Nevada, Reno, Sparks and I-80 East Corridor

Brookside Corporate Center in Reno, Nevada, GE Capital Real Estate, recently partnered with Miller Industrial Properties

Great Basin Brewing Company

The new owners of Brookside Corporate Center in Reno, Nevada, GE Capital Real Estate, recently partnered with Miller Industrial Properties to fill their vacant spaces at their newly acquired project on East McCarran Blvd.

The closing of Buckbean Brewery presented a significant vacancy to try to fill.

We are pleased to announce that Mr. Tom Young of Great Basin Brewing will be setting up operations in the space and will soon be turning out his premium brews from this new spot as well as his other locations in the area.  Great Basin’s occupancy was a considerable benefit to both the tenant since the infrastructure was already in place as well as the landlord to find a local operator to get the space open again.

We wish Tom Young lots of luck with the new venture.

Still in Debt but Looking Better

The Cornerstone
June 2012

by, Phillip S. Mahoney, CPR ®
Legacy Wealth Planning, Reno NV

We have a lot to look forward to this summer and fall. Inflation is staying low by the fall of the euro and the rise of the U.S. dollar. This lowers commodity prices (including gas at the pump), putting more money in consumers’ pockets and when you put more money in consumer’s pockets, they tend to spend it. With consumer confidence now closing in on its highest level since late 2007, I remain optimistic.

Everyone knows America has too much debt. What they don’t know is that things are getting better, not worse. Little by little, our economy is reducing its debt burden, slowly repairing the damage caused by 10, 20 or 30 years of excess. Total domestic debt as a share of the economy has declined for 12 quarters in a row after surging over the previous decade. When you hear the pundits and politicians screaming about debt every afternoon, keep in mind that it was excessive private debt, here and currently in Europe that led to our financial crises in 2008, and in *Europe today – not public debt. In fact, because the private sector has paid off, written off or dumped their debts on Washington, public debt has increased far more than it would have otherwise.

*Greece is unique in having a public sector that ran up spending while its private sector is rather conservative.

Economists who have studied the impact of indebtedness have found that low levels of debt are essential to growth, but that high levels of total outstanding debt can hurt an economy. Beyond that tipping point, adding on more debt will reduce growth over the long run, even if it inflates a bubble in the short run, according to Mohanty and Fabrizio Zampolli, economists for the Bank of International Settlements.

According to a study by McKinsey published earlier this year, U.S. households may have two more years of deleveraging left before their debts are sustainable again. If McKinsey is right, the U.S. economy may have to endure a couple more years of slow growth.

There are some summer news items we need to pay attention to:

  • The Supreme Court’s decision on the individual mandate portion of Obamacare will likely be announced within the next few weeks.
  • The July 1st European Oil Embargo on Iran.
  • Congress will have its fingers in the Debt Ceiling debate again.
  • Elections, elections, elections are going to be the theme.

Commercial Real Estate Myths Series: Myth 2

Myth: “Distressed properties are cheaper and easier than working
with a seller who’s under no particular pressure to sell.”

Commercial Real Estate Myths Series – Series 2 (PDF)The reality is that when you’re buying a foreclosure from a bank or dealing with a lender on a short sale, don’t expect logical, rational or remotely timely decisions. Banks work on their own set of rules and have their own priorities. They make decisions based on the financials at the moment and usually don’t consider the future costs of a delayed sale or the condition of the property.

In fact, distressed sales often take much longer than normal to close if they close at all. And they are far more difficult. Lenders are extremely difficult to deal with, whether it be a lack of communication or incompetence, who knows? But it takes many months to get approval. And in the end, the buyer may not get the property and lose out on other good deals along the way with the wasted time dealing with a perceived ‘great deal’.

Another factor is that many times the degree of distress to the building systems the property has experienced during it’s time of vacancy can be substantial and not easily discovered until the property is reoccupied and set into full use again. This is but another unknown that should be considered.

While some foreclosed properties may yield a viable and valuable purchase to the fortunate and savvy investor, the sage advice of ‘Let the Buyer Beware’ certainly holds true for distressed / foreclosed real estate.

The Weyerhaeuser Company teamed with Miller Industrial Properties

The Weyerhaeuser Company teamed with Miller Industrial Properties

The Weyerhaeuser Company teamed with Miller Industrial Properties

After shutting down their manufacturing operations in Sparks, Nv, the Weyerhaeuser Company teamed with Miller Industrial Properties to divest of their excess asset at 600 Spice Islands Drive. In April, 2012 a viable buyer was located and on June 8, 2012 escrow was closed and the deed transferred on the 72,500 sf., 10 acre facility.

The team at Miller consisted of Brad Lancaster, Carole Brill and Tom Miller and we wish to thank Weyerhaeuser for the confidence shown in selecting our firm to sell your property.

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Featured in the Northern Nevada Business Weekly
June 11, 2012 by NNBW Staff
Coatings manufacturer buys Dayton building for plant

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