RENO — Basin Street Properties has acquired the 129,767-square-foot, five-building Mill @ McCarran (formerly called the Magnolia Commerce Center) located at 1150 Financial Blvd. Mill @ McCarran is designed for office and light industrial use.
In January, prior to officially acquiring the facility, Wells Fargo Bank, the former owners of the property located at Mill Street and East McCarran Boulevard, selected Basin Street to be the facility’s property managers and market it. Basin Street currently owns four other properties in Reno including 300 E. Second St., 50 W. Liberty St., 200 S. Virginia St. and Coliseum Meadows Shopping Center.
“In light of what has happened in the real estate markets over the past several years, we are thrilled with this new opportunity in a sector of the market where we do not have a presence,” said Matt White, president of Basin Street Properties. “Mill @ McCarran is extremely well located and offers many advantages to tenants. By collaborating with the brokerage community, Basin Street will be able to make Mill @ McCarran one of the premier office and light industrial projects in the area.”
In acquiring the facility, Basin Street will have a designated property manager and facilities engineer dedicated to the tenants of the Mill @ McCarran, as it does with all of its assets.
Built between 2000 and 2003 and originally owned by Dermody Properties, the Mill @ McCarran was purchased by Birtcher Anderson Realty LLC before Wells Fargo Bank gained ownership in 2010.