Rick Hildreth MILITARY ROAD OBLIQUE MAP...Reno’s popularity has stemmed from cultural events and vast outdoor activities, but our most recent draw has come from the Tahoe Reno Industrial

SIERRA VISTAVILLAGE194 units

(DiLoreto Homes)

STONEFIELD HORIZONS300 units(Lennar)

Military Rd

Lemm

on Dr

North ValleysCommerce Center

1.4 MMMary's Gone Crackers

LogistiCenter II1.6 MMMarmot

Stead Industrial Center14 MM

Urban Outfitters, Turn 14,Fosdick, Michelin, DDS,

General Motors, Numark,Legend Valve, BizChair.com,Cardinal Health, Firestone,

Burrows Paper

Sage Point Business Park1.5 MM

UPS Logistics, SherwinWillliams, Genco, Tagg

Logistics, Volvo, Bender,Quality Bicycle Parts, CascadeDesigns, Barrier Safe Solutions

MILITARY ROAD8 acres

195552-29969 04-24-18

OBLIQUE MAP

While the Land Advisors® Organization makes every effort to provide accurate and complete information, there is no warranty, expressed or implied, as to the accuracy, reliability or completeness of furnished data. This information can not be reproduced in part or whole without prior written permission. © 2016 The Land Advisors Organization. All rights reserved.

Rick Hildreth | 702.262.9199 | www.landadvisors.com

K

EXCLUSIVE LISTING | MULTI-FAMILY DEVELOPMENT OPPORTUNITYMILITARY ROAD

Rick Hildreth | [email protected] S. Virginia St., 8th Floor, Reno, Nevada 89501 ph. 775.398.3049 | www.landadvisors.comThe information contained herein is from sources deemed reliable. We have no reason to doubt its accuracy but do not guarantee it. It is the responsibility of the person reviewing this information to independently verify it. This package is subject to change, prior sale or complete withdrawal. NVWashoe195552-5.16.18

MILITARY ROAD PROPERTY OVERVIEW

LOCATION The Property is located along the east side of Military Road just south of Tulear Street in Reno, Washoe County, Nevada

PROPERTY DESCRIPTION The property is currently vacant and unimproved.

MUNICIPALITY City of Reno, Washoe County, NV

PARCEL 552-250-07

SIZE ±8 gross acres

TOPOGRAPHY Flat to gentle slopes

SCHOOLS Washoe County School District

ZONING/LAND USE MF-14 and Open Space

UNIT COUNT Preliminary Site Plan yields 96 Townhomes

UTILITIES Water (TMWA), Sewer (City of Reno), Gas (NV Energy), Electricity (NV Energy), Phone, & Cable (SBC) is stubbed to the northern boundary of the site.

EXECUTIVE SUMMARY

Location: The Subject Property is located along the east side of Military Road just south of Tulear Street. View Property in Google Maps

Property Condition: The property is currently vacant and unimproved.

Municipality: City of Reno, Washoe County, Nevada

APN: 552-250-07

Acreage: 8 gross acres

Topography: Flat to gentle slopes

Zoning/Land Use: MF-14 and Open Space

Unit Count: Preliminary Site Plan yields 96 Townhomes

Utilities: Water (TMWA), Sewer (City of Reno), Gas (NV Energy), Electricity (NV Energy), Phone, & Cable (SBC) is stubbed to the northern boundary of the site

MILITARY ROAD PROPERTY PHOTOS

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SURROUNDING EMPLOYERS MAPRick Hildreth | 702.262.9199 | www.landadvisors.com

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195552-29969 04-24-18


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METRO MAP



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195550-29968 04-24-18

OBLIQUE MAP


Rick Hildreth | 702.262.9199 | www.landadvisors.comK

SIERRA VISTAVILLAGE194 units

(DiLoreto Homes)

STONEFIELD HORIZONS300 units(Lennar)

Military Rd

Lemm

on Dr





Urban Outfitters, Turn 14,Fosdick, Michelin, DDS,

General Motors, Numark,Legend Valve, BizChair.com,Cardinal Health, Firestone,

Burrows Paper





195552-29969 04-24-18

OBLIQUE MAP



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Lemmon ValleysShopping Center

N Virginia St





Urban Outfitters, Turn 14, Fosdick,Michelin, DDS, General Motors, Numark,

Legend Valve, BizChair.com, Cardinal Health,Firestone, Burrows Paper




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2 MMPetCo, Arrow Electronics,

Pontair, Almo, NBF

North ValleysShopping Center

Walmart

LogistiCenter I1.2 MM

Amazon, Lasco Valves North HillsShopping Center

Three FlagsCenter

North Hills Industrial1 MM

C & H Distribution, Anixtar,Pita-Maid, Sullivans, Thrift Books,Radians, Legacy Transportation

Sierra VistaVillage

StonefieldHorizons

RegencyPark

SierraGrande


195552-29969 04-24-18

OBLIQUE MAP



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195552-29969 04-24-18

PROPERTY DETAIL MAP



RENO MARKET REPORT 1Q18 CLICK HERE TO VIEW THE FULL REPORT

Strong housing demand has not slowed in the Reno metro area and builders continue to strive to meet buyer demand. According to Metrostudy’s quarterly lot-by-lot survey, annual new home starts increased by 51% compared to 1Q17, totaling 2,809. Annual closings totaled 2,074, a 7% increase over 1Q17’s annual closings rate of 1,947. Metrostudy notes that annual starts are an indicator of future new home closings and they expect 2018 to be another strong year for our metro.

The first quarter of 2018 saw new home starts increase by an incredible 76% compared to 1Q17, helping to push up the annual starts pace. Builders started 638 homes this quarter compared to 363 last year. Buyers closed on 521 new homes in 1Q18, a nearly 15% increase over last year.

Buyers are finding it harder and harder to purchase affordable new home products near the city centers. New home starts priced at $400,000 and above were the only price ranges that saw growth year-over-year at the end of the quarter. Last year, 18% of all new home starts were under $300,000 while this year that number was only 10%. Builders continue to seek opportunities in the suburbs where land is more affordable. Metrostudy found that starts in Fernley, NV increased by 164%.

Availability, or lack thereof, is driving demand. The Reno market only has 84 finished homes available, less than a two week supply. Finished Vacant inventory remains at the lowest level since Metrostudy began tracking in 2006, however the number of homes under construction has increased 102% over the year. Lot absorption is still outpacing deliveries (going on a 5 year streak now), leaving the metro with only a 16 month supply of Finished and Vacant lots. Compare that to three years ago when we had enough lots to last us 14 years!

NEW HOUSING TRENDS1

According to numbers from the U.S. Census Bureau, Washoe County maintained the same large population increase that was seen in 2016. The county grew by 8,158 people in both 2016 and 2017, which was a sharp increase compared to population growth in years prior. Since 2010, Washoe County has added nearly 25,500 new residents.4

The Bureau of Labor Statistics reports that the unemployment rate in Reno-Sparks and across Nevada continues to drop. The Reno MSA unemployment rate now stands at 4.1% and has one of the fastest growth rates in the state.3

As our metro continues to emerge as a technology and manufacturing hub, it is no wonder that Reno made U.S. News & World Report’s list of Best Places to Live. The Biggest Little City in the World came in No. 33 on the list

of the country’s 125 largest metropolitan areas thanks to high ranks in quality of life, job market, desirability, net migration and value.5

Reno’s popularity has stemmed from cultural events and vast outdoor activities, but our most recent draw has come from the Tahoe Reno Industrial Center. It was recently announced that a 1.1 million square foot data center facility, for a new startup called EdgeCore, is planned to join the center. As the Governor’s office continues to grant tax abatements for companies locating to Northern Nevada, the total amount expected to be approved now stands at $11.4 million.6 With those incentives, it’s no wonder companies are wanting to do business here!

ECONOMIC TRENDS3

UNEMPLOYMENT RATE

235.1

RENO MSA

TOTAL NONFARM EMPLOYMENT

226.1+4.0%

1,373.7

NEVADA

1,334.4+2.9%

(in thousands)

RENO MSAEMPLOYMENT GROWTH

3.7%

NEVADA

3.8%

-0.5%

4.1%

RENO MSA

4.6%March 2017 March 2018

4.9%

NEVADA

5.2%March 2017 March 2018

March 2017 March 2018March 2017 March 2018

-0.3%

Annualized Employment Change Annualized Employment Change

$469,000

$422,50011%

NEW HOME STARTS

NEW HOME CLOSINGS

AVERAGE NEW HOME BASE PRICE

521

45414.8%

638

1st Quarter 2017

3631st Quarter 2018

March 2017

March 2018

1st Quarter 2017

1st Quarter 2018

75.8%

Top Builders by Closings (Last 12 Months)

439

291

172

145

107

104

72

- 100 200 300 400 500

Lennar

Toll Brothers

DR Horton/Express/Emerald

Ryder Homes of Nevada

Jenuane Communities

Silverado Homes

Lifestyle Homes Source: MetroStudy

Single Family & Multi-Family Permits

472 528 777 1,243 1,507

2,000 1,867 2,223 2,254 134 22

68 477

709

787 1,732

2,443 2,205

0.0K

1.0K

2.0K

3.0K

4.0K

5.0K

2010 2011 2012 2013 2014 2015 2016 2017 Last 12Mo

Single Family Multi-Family Source: US Census

-7.3K

-21.8K

-9.6K

0.4K 0.8K

6.8K 6.5K 5.6K

10.5K7.4K 8.1K

-25K

-20K

-15K

-10K

-5K

0K

5K

10K

15K

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Last 12Mo

Source: Bureau of Labor Statistics

Employment Growth*

200K

250K

300K

350K

400K

450K

500K

0K

2K

4K

6K

8K

10K

12K

14K

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

Population Growth Total Population Source: US Census

Population Growth & Total Population

Sources: (1)"Reno Nevada Executive Summary, First Quarter 2018" MetroStudy (2) Reno Sparks Associations of REALTORS®, March 2018 Market Report Sources: (3) Bureau of Labor Statistics (4) Lucas Thomas, "Washoe County's Population Growth Last Year Matched 2016" The Patch, March 22, 2018 (5) Lucas Thomas, "Reno Makes List of Best Places to Live" The Patch, April 10, 2018 (6) Nicole Raz, "Major data center facility to join Tahoe Reno Industrial Center" Las Vegas Review Journal, March 14, 2018

https://landadvisors.com/market-insights/

Documents

Rick Hildreth MILITARY ROAD OBLIQUE MAP...Reno’s popularity has stemmed from cultural events and vast outdoor activities, but our most recent draw has come from the Tahoe Reno Industrial