DCG’s Dominic Brunetti, CCIM, and Patrick Riggs represented the seller, and DCG’s Tom Fennell, SIOR, CCIM, Chris Shanks, CCIM and Matt DeRicco represented the buyer of 491 Court Street in downtown Reno, Nevada. An undisclosed buyer purchased the single-tenant investment property in a 1031 exchange for $1,935,000.
Recently renovated with high-end finishes in 2021, the 4,407 square foot Class A office building also includes a 2,038 square foot finished basement. Built in 1922, the property is located in the historic Court Street corridor overlooking the Truckee River and Downtown Reno.
The current lease-back single-tenant, Thrive Wellness, occupies 100% of the office space, with a commitment to a 10-year lease term. Thrive Wellness Reno has grown to become a holistic healing community that provides physical, mental, and behavioral health care, specializing in treating eating disorders, perinatal mental health, anxiety disorders, and various mental and behavioral conditions.