The Grupe Company has purchased the Sierra Vista Professional Building office complex at 205 S. Sierra Street in downtown Reno for $5.1 million.
The seven-story, 72,845 square foot high-rise is located in downtown Reno near the Reno Justice Courthouse. The building includes multiple levels of covered parking and a layout that supports residential and ground floor commercial.
Grupe, a northern California real estate developer, plans on renovating the mixed-use building into 60 apartments and ground floor commercial space branded as the Loft 205 Apartments.
Trevor Richardson of Dickson Commercial Group represented the Buyer in the transaction.
The Grupe Company is one of the most respected real estate developers in the Western United States and the pioneer in building innovation and sustainability. Since 1966, the company has developed over 12 master-planned communities, 50,000 homes along with 12,000 apartment units.
