Basin Street expects to grow its staff in Reno

Basin Street Properties expects to continue moving headquarters functions to Reno as the real estate investment firm widens its horizons in the Western United States.

The company headquartered at Petaluma, Calif., said last week it will bring 14 jobs in finance, accounting, leasing and marketing to Reno.

Basin Street said it will occupy 7,000 square feet in a building it owns at 300 E. Second St.

With the shift of jobs from California to Reno, about 60 percent of Basin Street's staff will be working from its Nevada office, said Matt White, president of Basin Street Properties.

He said the company expects continued growth of its staff in Reno, partly because of the state's business-friendly climate.

Northern Nevada is central, too, to other western markets Boise, Salt Lake City, Portland where Basin Street Properties hopes to expand. It's also looking for acquisitions in Sacramento as well as the Reno area.

The convenience of Reno-Tahoe International Airport was a key factor in the company's decision to move jobs to northern Nevada, White said.

The company's 600,000-square-foot portfolio in northern Nevada includes three office buildings 300 E. Second St., the Wells Fargo building at 200 S. Virginia St. and the Bank of America Plaza at 50 W. Liberty St. along with the Coliseum Meadows shopping center at South Virginia and Kietzke Lane.

Basin Street also plans to develop a hotel along Second Street just south of Reno Aces ballpark.

In northern California, where Basin Street was founded 35 years ago, the company owns and manages 1.5 million of office, residential, retail and office space.

White said the company's executives struggled as they considered moving jobs from Petaluma, Basin Street's home for 35 years.

"This was a very challenging and a very difficult decision," he said.