Reno Realtor - Keller Realty Sierra Nevada Properties

Ben Galles at Keller Realty Inc. has negotiated the leases for the properties at 719 W. 5th St in Reno, NV and the lease at 4850 Sun Valley Blvd in Sun Valley, NV. In both transactions, Ben represented the landlords. Ben can be reached at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or 775 750 6429 or visit his website at www.thebizscoop.com. See below for one final look at these properties being vacant.

The following was posted on www.thebizscoop.com on 12/5/2011:

Some days you just need to think of some new ideas to get things moving. Rather than recap things that ARE happening in the market, I want to go over my Christmas wish list of what I would like to see in the Washoe County real estate market in the next year. Have any other ideas for me, I encourage you to leave comments on this subject. I can be contacted at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or 775 750 6429.

The following was posted on www.thebizscoop.com on 11/28/2011:

I went over some of these sales briefly in a post a couple of weeks ago but a few of these sales are worth noting and I include their sales prices. If you have any questions, please feel free to contact me at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or 775 750 6429.

If you are in business, having a phone and internet services are an essential part of your business. Any kind of service problems can cost you money. If you have ever had your internet down for more than a couple of hours, you know the frustration when you call your service provider and your call is out sourced or you have to dial one 18 times before you get a live voice. This week I had Helen Thompson from Integra Telecom stop by to discuss some things you should know about your business phone and internet services. Helen can be contacted at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or 775 720 9999. Ben Galles at Keller Realty Inc. can be reached at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or 775 750 6429.

If you own your own business in the Reno/Sparks area, you have to be able to speak about your business with passion that will translate to your customers who will then in turn get excited to work with you. It's surprising to me how many people don't do this with their business and don't realize that they are missing the boat. I sat down with business coach and facilitator Cathy French with Referrals Unleashed about this subject and she gives some great tips on how to improve this. To visit one of Cathy's seminars, visit her Referrals Unleashed Facebook page to see when her next seminar is. Cathy can be reached at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or 775 240 3375. Ben Galles at Keller Realty Inc. can be reached at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or 775 750 6429. For more Reno commercial  real estate, go to www.thebizscoop.com.

The following was posted on www.thebizscoop.com on November 14th 2011.

The 3rd quarter apartment market report from Johnson Perkins & Associates, Inc came out last week and there was a lot of interesting trends starting to take place on the market. Keep in mind that this company uses only 80 plus unit apartment buildings but it at least gives you a good sample of what is going on in the market. Overall vacancy dropped from 5.51% in the 2nd quarter to 5.38% and average rents went from $837 in the 2nd quarter to $840. Both are positive trends that our region definitely wants to see. To me the most interesting thing about this report is what is trending on the 3 bedroom apartment market. Because this survey only uses apartments of 80 plus units, we can’t get a real handle on what the foreclosure market is doing to the residential rental market. Most tenants perceive that there is an excess of inventory and that they should be able to lease a 3 bedroom house at a very competitive rate. What this reports shows is that average rents for 3 bedroom apartments went from an average of $1,115 in the 2nd quarter to $1,098 in the 3rd quarter and the average vacancy went from 5.06 to 9.06%, a jump of 4%!!!! These will be very interesting to track in the coming months. For more information, contact Ben Galles at Keller Realty Inc. at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or 775 750 6429.

The following was posted on www.thebizscoop.com on November 7th 2011.

The retail is one of the most interesting Reno commercial markets to look into. The retail vacancy can be linked with a lot of other market factors such as housing statistics as well as taxable sales. While the Reno/Sparks retail market has seen some major stores open up in the past few years, overall vacancy for the 2nd quarter 2011 was between 16.8% and 17.8% which is mostly up from the previous quarters. Average retail asking rents are around $1.35 to $1.42 which is down from the previous quarter. Most companies have not reported their 3rd quarter stats but there is a flurry of activity that should change a lot of these numbers including the new Walmart off Lemon Valley Dr and several new retailers in the Legends at Sparks Marina. For more information, contact Ben Galles at Keller Realty Inc. at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or 775 750 6429.

The following was posted on www.thebizscoop.com on October 31st 2011.

There is a lot of exciting things happening in the industrial market. Several major companies have or will be opening up large distribution centers in our area which should help create some much needed jobs. Urban Outfitters is one example that has their new 472,720 square foot warehouse in Stead being currently constructed. The other positive thing happening is that average vacancy has dropped from the 3rd quarter 2010 of approximately 15 to 16% down to 14 to 15% in the 3rd quarter 2011. If you have any questions for me, please feel free to email me at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or 775 750 6429.

The following was posted on www.thebizscoop.com on October 24th 2011.

There is starting to be more commercial foreclosure inventory than there has been in the past several years. Not just small apartments but larger apartments as well as office, retail, and industrial foreclosures. That means there are going to be some deals out there and we can reasonably expect prices to continue to fall for at least the next year.

Since 2007, small apartment buildings have seen quite a few foreclosures. That is because investors could get owner user financing on them (at a high loan to value) and once values in the home market plummeted, these properties were under water and were getting foreclosed on at a very high rate. In the past couple of years, larger apartment complexes have begun to become distressed properties and investors with lots of money are starting to see the kinds of deals they have been waiting for the past several years. Commercial money for apartment buildings over 30 units are at lows I have never seen in my career. That creates an opportunity for investors to buy a property at a decent cap rate while also getting low financing. Many investors I talk to think this is the perfect hedge for inflation which they feel is coming soon.

The following was posted on www.thebizscoop.com on October 3rd 2011.

I hope everyone had a wonderful weekend. Now it is time to get back in the office and get back to business. Speaking of offices, today I go over some of the office statistics for the Reno/Sparks area. To summarize, it is brutal. Vacancies are high, rents are low, and asking prices are dropping. So is there any reason for optimism? YES THERE IS!!!!! There is actually a lot of opportunities if you are ready to take advantage of them. Below is today’s video blog. If you have any questions, feel free to email me at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or call me at 775 750 6429.