Birtcher Anderson Realty LLC this week announced it has gained a foothold in the Reno, Nev., market with the purchase of a five-building office and industrial park.
The Magnolia Commerce Center, purchased for $19.1 million, totals 129,767 square feet, and is located at 1150 Financial Blvd. and 5580 Mill St.
Built in phases between 2000 and 2003, the center is situated on 13.7 acres and was 70 percent occupied at the time of sale by numerous tenants, including Cricket Nevada, IKON Office Solutions, Omnitron Intl. Inc. and Spherion Staffing.
Reno-based DP Partners sold the property.
San Juan Capistrano, Calif.-based Birtcher Anderson Realty currently operates a commercial real estate portfolio of approximately 4 million square feet, and plans to increase investment in the Reno area over the next 12 months.