Correction: This story originally stated that IGT was looking to sell its south Reno campus. It is not. It is seeking to sublease the campus to a tenant.
International Game Technology (IGT) is looking to sublease its massive south Reno campus.
The company has been in Northern Nevada since 1996, and its representatives say they will seek a replacement property in the region rather than moving out of it if the campus finds a new tenant.
The campus is 1.2 million square feet in size across 78 acres. According to Colliers International, the real estate company managing the listing, it’s the fourth largest commercial asset in Northern Nevada. It is smaller than the Tesla Gigafactory, the McCarran Commerce Center and the JCPenney Distribution Center.
The IGT campus includes seven interconnected buildings, including a cafeteria and gym building and a childcare facility. It’s located at 9295 Prototype Drive in the South Meadows area near I-580 and includes a mix of office, research and development, warehouse, and manufacturing space.
Colliers and IGT are hoping it will attract “high revenue companies in industries ranging from software and manufacturing to logistics and biotechnology.”
“A recent trend has emerged with high profile companies fleeing costly states to lower cost regions such as Nevada and Texas. IGT has enjoyed the growing and diverse labor pool, favorable tax structure, and low cost of living offered by northern Nevada,” the release reads.
Although the claim of the region’s “low cost of living” is repeated twice in the release, the truth of the matter is that Reno has recently been ranked as among the least affordable cities in the country.
“Nevada has become the fastest growing state in the country for the second year in a row and has also become a target for companies relocating outside of high-cost regions,” the release reads. “Companies are finding that the ease of doing business, coupled with favorable taxes and incentives, is creating an unparalleled motivation for business leaders to focus on northern Nevada. New companies expanding in Reno in recent years include Google, Tesla, Switch, Apple and Blockchain.”
A brochure for the property is available online. No price tag for the campus is listed.