SEATTLE — Lake Washington Partners, a commercial real estate firm owning, managing and developing properties across the United States, will break ground Feb. 10 for phased development of 1.5 million-square-feet of distribution/warehouse space within Spanish Springs Business Center near Reno, Nevada.
Seattle area-based Lake Washington Partners purchased the 66-acre site from Spanish Springs Limited Partnership in October, 2013.
Lake Washington Partners will kick off the development with a ceremony Feb. 10 at 1 pm at 450 Ingenuity Ave. along with representatives of Spanish Springs Limited Partnership, including Hawco Properties, the Economic Development Authority of Western Nevada (EDAWN) and Washoe County. With an anticipated completion in late 2014, the first phase will be a 750,000-square-foot distribution center for SanMar Corporation. SanMar currently occupies another Lake Washington Partners’ property—a 622,000-square-foot distribution center at 555 Vista Boulevard in Sparks, NV. Lake Washington Partners’ President Jordan Lott will aggressively seek build to suit tenants for the additional 800,000-square-feet of industrial development at Spanish Springs and the to-be vacated facility in Sparks. “Spanish Springs Business Center is ideally suited to meet tenants’ big box distribution needs in a rapidly-growing area,” said Lott. “It provides a high quality business environment with excellent access to Interstate 80 and US Hwy 395 through the adjacent Pyramid Highway corridor.” Lott said his company is re-introducing the Sparks property to the leasing market with approximately $3 million in renovations following SanMar’s move to Spanish Springs. Lake Washington Partners will oversee future construction and improvements at both sites. Reno-based United Construction Co. has been selected general contractor for the Spanish Springs project. Spanish Springs Business Center is a master-planned site with entitlements in place for fast tracking commercial development. Power, gas, water, sewer and telephone services are in place, and the Spanish Springs Business Center offers a high pressure water system to support ESFR sprinklers.
“Lake Washington Partners has expanded our presence in Washoe County for multiple reasons, starting with its strategic location among 11 Western states. Moreover, the area provides tenants with a business-friendly environment and excellent quality of life,” said Lott.
Lake Washington Partners’ portfolio includes properties for lease or build to suit development in multiple markets in the United States. For more information on the Spanish Springs site, visit www.lkwp.com or email firstname.lastname@example.org.
About Lake Washington Partners
Over three generations, family-owned Lake Washington Partners’ focus has remained steadfast: providing outstanding service to tenants and enhancing value in real estate ventures. These principles have allowed Lake Washington Partners to grow into a well recognized and thriving nationwide real estate company.
Lake Washington Partners’ team includes solutions-oriented professionals with the judgment and experience necessary to help navigate the challenges in today’s real estate and adapt to the obstacles of tomorrow.
For Lake Washington Partners
Barry Bartlett, 206-335-4694