Sierra Sotheby’s International Realty Represents One of the Largest Land Deals in Nevada History
Posted by Brit Crezee — January 29, 2018
INCLINE VILLAGE, NV - Sierra Sotheby’s International Realty recently announced, in conjunction with L. Lance Gilman Real Estate, the sale of the remaining land at the Tahoe-Reno Industrial Center (TRI) with approximately 68,000 acres sold to a major software company from Southern California. The size of the land involved nearly equates to the size of the entire city of Reno, NV.
Jay Margulies of Sierra Sotheby’s International Realty represented the buyer, Blockchains, LLC., with a series of nine major transactions and 37 separate pieces of land; closing escrow on Jan. 18, 2018. The purchase price of all the transactions has not yet been disclosed; it is estimated to be nine figures by the parties involved in the transaction.
“Being a part of one of the largest, if not the largest, real estate transactions in the history of Nevada has been a privilege,” stated Margulies. “This is definitely one for the history books.”
Who is Blockchains, LLC. and what is the development plan for the property?
Blockchains, LLC., is a software company currently based in Southern California that develops technology for the Ethereum Blockchain. They are focused on financial services, software development of distributed applications (Dapps) for the Ethereum blockchain and trusted identity solutions.
Blockchains, LLC is at the forefront of one of the most revolutionary innovations since the advent of the internet, blockchain distributed ledger technology. A premier innovator in the blockchain space. Blockchains, LLC conceptualizes and incubates blockchain-powered ideas, ventures and businesses.
“The land purchased by Blockchains, LLC. includes a variety of tech and commercial sites. And, while they have not announced their specific plans for the land, I suspect that they will be building a large campus on a site in Comstock Meadows along USA Parkway/Infinity Highway, very near the Google site, and adjacent to the Reno Land Tech park,” said Lance Gilman, one of the founders of TRI (along with Don Roger Norman and his son Roger William Norman).
Some History on Tahoe-Reno International Center
Recognized as the largest industrial park in the world, TRI owners initially purchased approximately 104,000 acres of land in Storey County in 2001 and invested over $100 million in road and infrastructure. Today TRI is home to over 150 companies in the park, including numerous Fortune Top 100 companies.
In 2014, Tesla began operations at TRI, building their Gigafactory, making TRI one of the most sought-after tech locations in the world. TRI has been featured in Fortune Magazine, the Wall Street Journal, New York Times and many other leading business publications around the world, with the most recent article coming out soon in The Economist. Bloomberg called it the “New Silicon Valley” in a recent publication.
The park already includes almost 18 million square feet under its roof with more under construction, and has attracted a permanent and temporary job count of over 15,000 people. That figure is expected to double in the next five to ten years, according to a recent press release from TRI.
Sierra Sotheby’s International Realty launches into Reno market
This series of transactions comes on the heels of Sierra Sotheby’s International Realty’s official launch into the Reno market.
“This landmark deal segues perfectly into the opening of our new real estate office located two doors down from the Apple store at The Summit Reno,” said Peter Strand, president of Sierra Sotheby’s International Realty.
“Northern Nevada has been explosive in the past ten years and Sierra Sotheby’s International Realty brings a high level of global brand awareness and outreach into this market. We look forward to providing an elevated real estate experience for Reno, Sparks and the surrounding Carson Valley,” Strand added.
About Sierra Sotheby's International Realty
With ten boutique offices serving Lake Tahoe, Truckee, Reno and the surrounding area, Sierra Sotheby's International Realty are local experts with global reach. The Sotheby’s International Realty network currently has more than 21,000 independent sales associates located in over 900 offices in 70 countries and territories worldwide. In addition to the referral opportunities and widened exposure generated from this network, the firm’s associates and clients benefit from a relationship with the Sotheby’s auction house and Sotheby’s International Realty’s innovative technology and marketing programs. Each office is independently owned and operated. Visit sierrasothebysrealty.com, call 775.832.4900 or text SierraSIR to 87778 to download their GPS enabled mobile app.