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Agent Credits Reno Growth for Multi-Million Dollar Sale

The recent sale of Reno’s Pennington Mansion is just another indicator of what’s to come with the region’s big business boom on the horizon.

Joya Machabee, who represented the buyer through Chase International Real Estate, notes that the new owner also owns the Reno Tahoe Industrial Center. The center has attracted large and innovative companies like Tesla, Switch, and Zulily, putting Reno and Northern Nevada on the map of the nation’s leading areas of technology and commerce. Reno’s proximity to world-class recreation and the Bay Area further broaden its appeal for corporations looking to relocate or open new facilities.

The 19,500-square-foot Pennington Mansion sits on just over 20 acres in the heart of Reno and sold for $8 million. Designed by casino owner William Pennington in 2005, the four-bedroom home is fully equipped for entertaining, with a state-of-the-art home theatre, pool, and gym. Machabee said that in addition to all its amenities, the home’s location was a significant deciding factor for the buyer.

“The home is in an amazing location,” she said. “It is surrounded by established neighborhoods while remaining discreet and secluded, but it’s the evolving industrial landscape that brought the buyer here. This huge business boom, that we’re in the midst of, will continue to enhance the real estate market.”

For more information about Chase International, visit  www.chaseinternational.com.