March 20, 2017
Tolles Development Co. acquired six downtown and Midtown Reno, NV office buildings, and is seeking out more. Specifically, the local company is eyeing industrial and multifamily acquisitions and development in Northern Nevada. The buyer acquired the assets from local private company AMH Properties.
Among the acquisitions were 241 Ridge St., 201 Liberty St. and 275 Hill St., all in Reno’s financial district. Tolles also collected two buildings in the Washington Street commercial neighborhood, and 1301 Cordone Ave., which is home to the RISE Academy and other non-profit offices.
Tolles is making its move with the belief that the Reno office market is poised for explosive growth. The city’s population is expected to grow quickly, but no new office space has been added for at least a decade.
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