Apple. Amazon. Zulilly. Walmart. Tesla. Now, Google. What do they all have in common? They all occupy land right here in the Reno/Sparks area. In fact, Google is Tesla's new Reno neighbor. This puts another feather in Reno's tech-savvy cap, for sure.
Google is Tesla's New Reno Neighbor
Just over a week ago, the purchase of over 1200 acres in the Tahoe Reno Industrial Center was recorded. The filed documents showed Silver State LLC as the official purchaser. However, the Reno Gazette-Journal said that several sources familiar with the sale stated that Google owns the property. They paid just over $29 million for it, too.
Reno residents know that the Tahoe Reno Industrial Center currently houses the Tesla gigafactory. That means that Google is Tesla's new Reno neighbor. However, what Google plans on doing with the property has yet to be revealed. Speculation ranges from a data center to a test track for driver-less cars. As of the writing of this post, Google and state officials remain quiet due to a nondisclosure agreement. So any possible use speculated at this point is just that...speculation.
Google Offers a Welcome Addition to Other High Profile Companies in Reno
Whatever use Google makes of their land will be a welcome addition to the current high profile companies operating in Reno. Apple's data center facility conducts business in Reno Technology Park. Rackspace US operates in the same center as Apple. Switch just finished their data center's construction in the same park as Tesla's gigafactory. The Reno community also facilitates distribution centers for such large corporations as Amazon, Zulilly, Petsmart and Walmart.
You can feel the buzz of excitement from the economic development in Reno over the past few years. However, with this development comes a further squeeze on the Reno housing market. Reno is already the third fastest growing rental market in the US. Housing affordability remains a concern. Let's hope we can get our housing supply caught up with demand soon.
Charlene Hamilton, Your Reno Real Estate Specialist
Originally posted on my Reno real estate blog here: http://www.relocationtoreno.com/2017/04/24/google-is-tesla-s-new-reno-neighbor/.
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