DCG’s office team; Dominic Brunetti, CCIM and Scott Shanks, SIOR, along with the investment team; Chris Shanks, CCIM and Matt DeRicco represented the seller of the single-tenant medical office at 3725 Lakeside Drive. Multiple offers were received with a final sale price of $2.5MM, about $250,000 over the initial asking price. Built in 2005, this office investment sold at a 4.75% cap rate.
Pinecone Pediatrics signed a 10-year NNN leaseback for the entire 4,338 square foot medical office in Southwest Reno. Pinecone Pediatrics has a current patient base of +/- 5,500 children. Pinecone is a thriving business in the medical sector and is positioned well to further capitalize on the population growth in the area.