Vista Business Park

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Vista Business Park

539 – 541 Vista Boulevard, Reno, NV

Status: Completed Portfolio Investment
Property Type: Industrial Condominiums for sale or lease
Project Type: Acquisition and repositioning
Size: 8,565 – 17,130 rsf
Capital Structure: Balboa Value Fund II, L.P., Private equity – internally managed discretionary fund

Vista Business Park was built in 2006 and was designed as an industrial flex project consisting of two industrial buildings totaling 112,622 square feet and subdivided into condominium units. This project is located in Sparks, Nevada, which was hit hard by the recession. Balboa Value Fund purchased the remaining 6 condominium units and a 7.63 acre parcel in 2009 and in 2011 sold the land at an attractive price significantly reducing risk and the capital investment. Working closely with the brokerage community, Ridge Capital was able to procure buyers for the remaining condominiums, selling the last unit in early 2016.