LRE & Companies have unveiled plans for Fernley Promenade, a mixed-used development project in Fernley, NV. It’s one of the fastest-growing cities in The Silver State. The project covers 13-acres and will comprise industrial and retail areas plus a hotel.
LRE & Companies is a full-spectrum real estate development, asset manager, construction, and hotel management company. The recent press release quotes Akki Patel, CEO of LRE & Companies…
“We’ve developed, opened, and operated hundreds of restaurants throughout Northern California and Western Nevada over two decades. Throughout our journey, we perfected the process of identifying the right pieces of real estate and where future growth will be. Our strategic evaluation identified several prime real estate opportunities in secondary and tertiary markets for mixed-use development projects. Due to its proximity to major highways and strong market fundamentals, Fernley is one of those locations.”
The Fernley Promenade plans include a 98-room hotel, three quick-service restaurants, three large junior anchors, and 16,000 square feet of shop space. An extended-stay lodging facility, the four-story Home2 Suites will have a swimming pool, fitness centre, guest laundry room, breakfast room, and sundries shop.
“Fernley Promenade has all the elements of a successful mixed-use development when you look at it on paper,” said Victor Chiang, vice president of development at LRE & Companies. “Being in one of the strongest counties in Northern Nevada, Lyon County, Fernley over the last 10 years has attracted large Class A industrial developers. We expect Fernley Promenade to drive tourism to the community and become a significant demand generator for future investments. The opportunity for investors, retailers, and, most importantly, the community is significant.”
The full press release can be downloaded by clicking the button below.