Why This SD Firm Is Investing in Reno

Zikakis: “E-commerce and technology are now driving the market and have significantly offset Reno’s traditional reliance on gambling and tourism.”

SAN DIEGO—Reno, NV, has added more than 33,000 new jobs since 2011 and has recruited more than 100 businesses to relocate or expand in the Reno market, making it poised to really outperform the national averages, Capstone Advisors’ president and founder Alex Zikakis tells GlobeSt.com. Big names like Tesla, Amazon and Apple have invested in this market, and Capstone is bullish on its future given the clustering effect that often follows cutting-edge tech companies.

To that effect, the firm recently closed on 98 acres of commercial and residential land in Reno known as Sky Vista. The parcel consists of a 1.91-acre pad site immediately adjacent to an existing Walmart Supercenter and a nearly 96-acre parcel of adjacent land entitled and planned for residential, retail and industrial development. The project enjoys a high visibility location and access adjacent to US Highway 395 in the North Valley region of northern Reno. Capstone intends to develop a 10,000-square-foot retail building on the out-parcel adjacent to Walmart and hold the balance of the land for future development.