Report: Tesla Revving Region’s Industrial Market

The Tesla touch on Northern Nevada keeps growing.

The electric car maker’s announcement earlier this month that it will build a $5 billion battery gigafactory sparked a 10 percent jump in asking prices for some large for-sale industrial buildings in the region, a report Monday said.

“We also noticed a big increase in interest for available for-lease space anywhere close to the new Tesla plant” to be built in the Tahoe Reno Industrial Center east of Sparks, Tom Miller of Reno-based Miller Industrial Properties wrote in his third-quarter report.

“Some long-time vacant buildings have received full-price offers to buy and are now into escrow,” Miller wrote. “Those examples are just some of the tangible evidence that the Northern Nevada industrial real estate market is once again alive, well and ready to experience its next big growth spurt.”

Full article on the internet can be found at:
http://www.rgj.com/story/money/reno-rebirth/2014/09/29/report-tesla-revving-regions-industrial-market/16457337/