Northern Nevada Offers Many Industrial Options
Kevin Annis, CCIM – Broker/Principal
While most of the attention in Northern Nevada has been in and around Tahoe Reno Industrial Center (TRIC), there are many other regions of Northern Nevada that are getting similar interest without the press that TRIC is receiving. Surrounding areas that are seeing large amounts of industrial real estate leasing activity and development are Spanish Springs, Stead, Dayton, Fernley, and Minden areas.
The Tahoe Reno Industrial Center has been the headline of many stories nationally, and rightfully so, after landing Tesla and Switch among many others to locate in their industrial park. There is no question that the success of TRIC has to be celebrated and acknowledged as the trickledown effect will be great for the entire region, aka “The Tesla Effect.” However, these are not the only industrial real estate deals being consummated in our region. Throughout Northern Nevada companies are moving, relocating or expanding their industrial presence. While TRIC does have many great perks and reasons to locate there, there are many reasons to locate in the other submarkets I mentioned as well.
Over the last year companies such as Amazon, PETCO, TAGG Logistics and others have relocated to an industrial property not located in TRIC. In addition there has been activity in the Minden submarket.
The Northern Nevada Development Authority recently announced that VIP Rubber and Plastic will be moving their newly acquired plastic division from Ontario, California to Douglas County, Nevada. This move will create 40 jobs in Northern Nevada.
VIP Rubber and Plastic Company is a family owned and operated full-service rubber and plastic manufacturer. They are capable of producing custom molded and extruded products for almost any application and provides components for various industries including automotive, aerospace, and defense.
“We are very happy to be moving and newly acquired plastic division to Minden,” said Howard Vipperman, President and CEO of VIP. “We could have located anywhere, but Nevada has the best, most business friendly environment of all the places we looked at.”[i]
Currently VIP is working on obtaining the permits necessary to complete basic improvements to their new location and plans to be operational by early January next year. While VIP is offering current employees of the Ontario division the opportunity to move with the company, they plan on filling the majority of the available jobs with local employees.
“VIP Rubber and Plastic will make an excellent addition to our manufacturing community in Northern Nevada,” said Robert Hooper, Executive Director of Northern Nevada Development Authority. “The types of jobs that VIP plans to bring are a good example of the high paying primary jobs we need to grow our economy. VIP’s decision to move to the Sierra Region further demonstrations our business friendly environment.” [ii]
While we are all extremely pleased with TRIC and its ability to recruit tenants to Northern Nevada, be sure to keep your eyes open for more activity in the other submarkets over the next couple years as well. Needless to say, it is a great time to be in Northern Nevada!
[i] http://www.rgj.com/story/money/business/2015/10/31/vip-rubber-plastic-move-plastic-division-douglas-county/74875312/
[ii] http://www.rgj.com/story/money/business/2015/10/31/vip-rubber-plastic-move-plastic-division-douglas-county/74875312/