Tahoe-Reno Industrial Center Announces Sale Of All Remaining Land Owned By TRI

15 Total Transactions in the Past Week Results in the TRI Selling All of its Remaining 74,000 Acres of Land January 19, 2018 (McCarran, NV) – Lance Gilman announced today that the Tahoe-Reno Industrial Center (TRI) sold over 64,000 acres to a major software company from Southern California in addition to other deals with several other companies, involving another 10,000 acres. The land involved in these deals is all of the remaining land in TRI. The major portion of the sale (64,000 acres) went to Blockchains, LLC which took place as a series of eight massive transactions and 37 separate parcels of land, which all closed escrow simultaneously on January 18th. The actual total purchase price of all transactions together has not been disclosed yet, but it is nine figures in size, according to people close to the transactions. The size of the land involved in the Blockchains deals is approximately the same size as the entire City of Reno. To be clear, there is still plenty of land available for sale at TRI, but it’s now from new developers and investors who are the new owners of the final parcels of land that were sold this week by TRI. As for the original developers and owners of TRI, they have now succeeded in selling all of the 104,000 acres of land originally purchased 17 years ago. Who is Blockchains, LLC and what will they do with all this land? Blockchains, LLC (www.blockchains.com) is a Southern California based software company that develops technology for the Ethereum Blockchain, which is a technology that allows transactional information and data to be distributed and reconciled in the most secure transactional system in the world. Blockchains, LLC is very well capitalized and consequently paid cash for their 64,000 acres of newly acquired land, and therefore no financing was necessary by the TRI. Lance Gilman states that; “The land purchased by Blockchains includes a variety of tech and commercial sites. And while they have not announced their specific plans for the land, I suspect that they will be building a large facility on one large site in Comstock Meadows along USA Parkway/Infinity Highway, very near the Google site, and adjacent to the Reno Land Tech park. They purchased all our remaining developable land which has superb facility site possibilities. Part of the land deal included all of the adjacent mountains and ridges, which essentially makes up the entire south half of TRI. They even purchased all of the freeway commercial property we had available at the Patrick exit (Exit 28) off I-80. This is a huge capital investment by this company and they’re marking their territory which demonstrates a rock solid belief in the abilities of Storey County and the residents of northern Nevada.” Other deals finalized at the same time In a deal which will close next week, a 2nd developer is buying all of the land around the reclaim water reservoir at TRI, and will develop that area into a retail town center, such as shops, stores, restaurants, and casinos. And in a related transaction, another developer purchased all the developable land (appx. 2,000 acres), at Painted Rock, just two miles from TRI east along I-80. The buyer is interested in developing a large residential community. TRI’s 104,000 acres is now fully sold out in just 17 years TRI was founded by Don Roger Norman, his son Roger William Norman, and Lance Gilman. In 2001, they initially purchased approximately 104,000 acres of land in Storey and Lyon Counties (over 162 square miles), starting with no infrastructure and no outside capital. Today, TRI now boasts over $100 million in road and utility infrastructure, and over 150 companies in the park, including numerous Fortune Top 100 companies. Since the Tesla deal in 2014 which includes the building of the Tesla Gigafactory, and the Switch deal in 2015, TRI overnight becomes the hottest tech location in the world. It has been featured in Fortune Magazine, the Wall Street Journal, New York Times, and many other leading business publications around the world, with yet another feature article coming out shortly in The Economist. Bloomberg called it the “New Silicon Valley” in a recent publication. What’s this means for TRI and what is next? “TRI is not going anywhere,” said Gilman. “We still have infrastructure commitments to fulfill, primarily water and sewer construction. And sales and development of land at TRI will only pick up pace even more, as developers who have purchased land previously from us are now developing their own sub-developments and parks within TRI. Everyone now wants to come here, so the investors and the developers here at TRI are going to do a brisk business for the coming decade. Almost all the developers now in the park are focused on marketing to tech companies, and building out the tech and R&D cluster that is blossoming at TRI.” The TRI decision maker, Don Roger Norman, the national real estate magnate, who has also been the financial and construction muscle in the park has already been looking intently for a new project. “Roger will never retire, this is his life’s work, it’s in his soul to build and invest in platforms that create jobs and economic prosperity. He has been behind the scenes all these years, yet his dedication, his risk-taking, showed such financial and political courage, it’s an honor to work with him. Roger is already calling me twice a day about potential new projects for us,” Gilman said. “And I have a feeling it won’t be very long before Roger and I are in the middle of a new adventure somewhere in Nevada.”]]>