When the owners of the Silver Peak restaurants in Reno announced plans for a new ballpark-area location, they left open the future of the company's location at First and Sierra streets.
In a press release, Silver Peak owners David Silverman and Trent Schmidt said they are "are evaluating their total presence and priorities in the downtown Reno area."
That means, Schmidt said last week, that Silver Peak isn't certain it's going to renew its lease this year with the Reno Redevelopment Agency, owner of the First and Sierra location.
The two sides are stuck, Schmidt said, on Silver Peak's request for rent concessions. He said the restaurant's owners believe they're paying 30 percent more than at least one other tenant in the retail portion of the Parking Gallery building.
And Silver Peak's owners contend that the redevelopment agency, like other landlords, needs to be realistic about current market conditions in an era with high vacancies in retail spaces throughout the region.
"We gotten stonewalled on it," Schmidt said.
The redevelopment agency didn't respond last week to phone and e-mail requests for comment.
Schmidt said Silver Peak has invested about $500,000 into the property since it first signed a lease seven years ago, and the restaurant's owners think Silver Peak has proven to be a good drawing card for the revitalized downtown.
The company is committed, Silverman and Schmidt said, to continued operation of its flagship Silver Peak Restaurant and Brewery location on Wonder Street, which opened in 1999.
It plans to open a third location in 3,720 square feet in the Park Center Tower at 300 E. 2nd St., across from the Reno Aces ballpark. Silver Peak, which was represented by Dominic Brunetti, a broker with NAI Alliance, signed a five-year lease in the building owned by Basin Street Properties of Reno.
The new restaurant will focus on pizza and will include limited gaming and a full bar.
