Investor · Rapid City, SD · Member since 2016 · 11 posts · 5 votes
Looking for input and advice, for anyone familiar with Nevada commercial/industrial deals. We were informed today of the immediate availability of a NMTC (new markets tax credit) for Nevada, to expand our commercial modular manufacturing company into that region.
We have until the middle of next week to land on a location, with 80-200k sf. The deal would close in May. I'm open to buying or leasing.
I'm very familiar with real estate in South Dakota, but I hadn't even thought of Nevada, until today. We have been looking to expand into the Phoenix area, but I can't turn down the NMTC opportunity.
Any input, from a NV investor is welcome; including if there are opinions on whether it would be better to be in the Las Vegas or Reno area.
Real Estate Broker · Charlotte, NC · Member since 2020 · 114 posts · 64 votes
5y
Hey Branden,
I’m not in Nevada or Reno so if this doesn’t help sorry. I’m chiming in on your time constraint. Sorry for the pun but would an Option be an option instead of buying or leasing? You could secure an option to buy a property for minimal down and secure the location without having to guarantee a lease or purchase. Not sure if this would suffice for the NMTC.
Real Estate Agent · Salt Lake City, UT · Member since 2018 · 247 posts · 247 votes
5y
I would say set your sights on Las Vegas. It’s a higher growth market and a better transportation hub. Plus it’s a lot closer to Phoenix, if that’s your ultimate goal. Let me known if you need help identifying a specific property. I’m out of Salt Lake City, but have a lot of connections in Nevada.