Friday, September 21st, 2012 at
Best of North Tahoe & Truckee 2012 results are now published! Not only a great source of hot spots, who’s who and the cream of the crop, it’s about celebrating our communities best!
Truckee River Associates, Inc wants to congratulate all of the winners- including many of our tenants! So, a big shout out to:
- Best Expresso/Coffee – #1 Coffeebar
- Best Clothing Store – #2 Mo, Jo & Zoe
- Best Nail Salon – #1 Sassy Nails
- Best Hair Salon – #1 Urban Angels Salon
- Best Barista – #1 Travis Fields, Coffeebar
Your hard work and efforts make Truckee/Tahoe truly a GREAT place!
Monday, September 10th, 2012 at
COMMERCIAL REAL ESTATE MARKET TREND FOR TRUCKEE AND NORTH LAKE TAHOE:
Since 2008, Truckee andLake Tahoe’s economies have brought challenges to all businesses and property owners alike. Revenue generation, employee retention and cost reduction are being stretched and stressed in the local Truckee/North Tahoe marketplace. The positive side of the 2008 through 2011 economic environment is that there were some of the best commercial leasing opportunities for tenants within our local market. As a result, we have seen more leasing occurring recently than in the past decade. This brings us to today’s commercial real estate marketplace in Truckee and North Lake Tahoe.
While we are seeing a positive trend overall there are segments still stagnant, such as available office space and land. In relation to available office space within Truckee/North Tahoe’s marketplace, there is more available office space than users to lease or buy. As for the value of land, we have seen little action over the past three (3) years, the reason being there is a non-existent development atmosphere in the Truckee andNorth Lake Tahoe. Part of this slow increase in land value is due to very little zoned land available with services. It is believed, once a few land sales or uses are finalized, in turn the value of land shall increase. Although an additional challenge related to land in Truckee/North Tahoe’s commercial real estate market is once land is sold and developed, the land is not replaced with new land opportunities, unlike our neighbors in Northern Nevada and theSacramentoarea who are able to continue to expand their market areas due to raw land availability.
Another area of focus of interest in the Truckee/North Tahoe area is financing. Financing is dependent upon income generated from an existing improved property or projected income associated with a development. The income, regardless if it is actual or projected, is also judged on the quality of the tenant base committed to any property. In order to qualify for financing on existing property or a development project rent must be equal to 125% of debt before being considered for a loan. Taking into consideration the slow rise of today’s office and land segments of commercial real estate in our market over the past sixty (60) days, we have seen an upward trend in leasing but not pricing per square foot. The inability to add lease area to the Truckee/North Lake Tahoe marketplace can be attributed also to financial constraints for larger users, and the price per square foot will increase within the next six (6) months in a more pragmatic fashion.
In summary, commercial property is trending up, but we have a long road ahead before rents move upward to qualify our area for new building improvements within any real estate segment, such as office, retail, industrial or service uses. It will be at least three (3) to five (5) years before rents reach a positive level to qualify for real estate financing. We at Truckee River Associates are optimistic in the Truckee/North Lake Tahoe commercial real estate market, and foresee forward, positive motion, above and beyond the past three (3) years.
Monday, September 10th, 2012 at
Complete entry form on our website and post your photo on our facebook page…time is running out!
Friday, September 7th, 2012 at
We would like to welcome Langencamp, Curtis & Price, LLP, Attorneys to the Rex Hotel of historic downtown Truckee.
Wednesday, August 22nd, 2012 at
Enter on our website, post your picture using the Flying A as your backdrop & get your friends & family to “like”…there are generous gas cards available for the top 3 most “liked” photos!
Tuesday, August 14th, 2012 at
“Meet Me at the Flying A” Photo contest, visit our facebook page to enter!
Thursday, August 9th, 2012 at
Welcome to Truckee Rivers Associates first official Blog! We are excited to get into the
social media world and reach a wide range of readers.
Truckee commercial real estate is changing and through our Blog, we will help keep you
all informed of these exciting changes – Bookmark us, send commentary and visit us
REMEMBER to enter our Flying ‘A’ Photo Contest via our FACEBOOK page!!!
Everyone can use a gas card these days…enter your photo using the Flying ‘A’ as your
backdrop, be 1 of 3 most “liked” photos and have the chance to win 1 of 3 gas cards.