Museum Tower Urban/CBD class “A ”, High-rise office bldg. Reno, Nevada

Background

Developed in 1989 by a local Reno-based partnership, 100 West Liberty is the premiere office asset in Reno. Capstone Partners, in joint venture with NBS Real Estate Capital, acquired the property in September 2004 for $130 PSF, allowing for a significant repositioning and re-branding effort of the property.

Result

Due to the property’s location within the emerging downtown Reno cultural district and adjacent to the Nevada Museum of Art, Capstone Partners re-named and re-branded the property "Museum Tower." A renovation of major building common areas was completed in early 2005. Capstone Partners increased the occupancy of the building from 84% when purchased to 100% by the summer of 2007. This was the first time the building achieved full occupancy.

Museum Tower was sold to CM Capital in September 2007 for over $250 PSF.

Major Tenants include

Wachovia Securities, Grant Thornton, US Attorney, Jones Vargas Law Firm, McDonald Carano Wilson Law Firm

Project Statistics

• 150,000 total SF of office space
• 12 story building on .84 acre site
• 275 parking spaces