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RENO, NV- The law firm Beckley Singleton has signed a long-term lease for 12,000 sf at Bank of America Plaza, a 12-story Downtown office building here that is owned by Basin Street Properties of Petaluma, CA. Basin Street vice president Scott Stranzl tells GlobeSt.com that the lease term is 10 years and commences in February 2007. The asking lease rate for the space was $2 per sf, full service.

The law firm will relocate from 3,000 sf at 1875 Plumas St., which is located one mile south of 50 West Liberty St., the street address for Bank of America Plaza. The commitment drops vacancy at Bank of America Plaza to 20%.

Basin Street Properties acquired Bank of America Plaza in December for $34.6 million. Matt Riecken, Don Welsh and Annemarie Huisman of Trammell Crow Company have the leasing assignment.

Becky Singleton VP David Mc Elhinney says the company principals have been watching the revitalization of the Downtown area and now feel the firm will be better able to meet and service its clients’ needs by coming back downtown. In addition, he says “there are obvious advantages to being immediately adjacent to the federal courthouse and the state court complex.”

Several tenants have been added to the building since Basin Street took over ownership, including YMCA, Blue Trout Restaurant and CTX Mortgage. In addition, Basin Street said this week it is taking town 8,000 sf itself and will build it out with 22 executive suites ranging in size from 100 sf to 280 sf. Amenities will include shared office equipment, shared receptionist, conference rooms, state-of-the art telecommunications and a shared kitchen. Other tenants at Bank of America Plaza include Bank of America, Deloitte & Touche, Lionel Sawyer & Collins Ltd., New York Life, and HMC Architects.

Bank of America Plaza was Basin Street’s only Reno Asset until last month, when it spent $18 million to acquire another Downtown building, the 120,000-sf Wells Fargo Building at 200 S. Virginia St. Like BofA Plaza, the building is 80% occupied. Tenants include Wells Fargo, Dean Witter, Quest Communications, Eshelon Telecommunications and Level 3 Communications.

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