CAI Investments, LLC, a property manager/developer and private placement sponsor, has purchased a Class A office building in Carson City, Nevada for an undisclosed price.
Located at 3850 Arrowhead Drive, the three-story, 96,000-square-foot building is leased to Harley Davidson Financial Services, a subsidiary of Harley Davidson, Inc. (NYSE: HOG) and sits on approximately 10 acres of land. Amenities include open office spaces, a café, a fitness room, and an outdoor patio area next to Eagle Valley Golf Course.
CAI Investments has not yet disclosed what plans they have for the building, however, James Hickey, the firm’s senior vice president of capital markets said that the “Class A office space fits in with the current Delaware statutory trust and property management portfolio that CAI is building.” He noted that the company “focuses on finding assets in geographical areas that are growing and have stable business models.”
Christopher Beavor, CAI’s founder and chief executive officer remarked on the increased business and population growth in northern Nevada where the property is located.
“We see companies relocating from California bringing their workforce with them because the Reno/Carson City area offers lower taxes, a booming economy, and outdoor activities that improve on individuals’ lifestyles,” he said.
In late October 2020, CAI purchased the global headquarters of Pactiv LLC in the Chicago suburb of Lake Forest, Illinois for a DST offering.