Nevada State Development Corporation announced companies have purchased buildings in Reno/Sparks market with loan assistance
October 31, 2016
The Nevada State Development Corporation announced last week that three companies have purchased buildings in the Reno/Sparks market with SBA loan assistance from NSDC.
NSDC is a nonprofit company that is the largest SBA 504 loan provider in Nevada.
International Test Solutions.
International Test Solutions, Inc. (ITS), closed $3.496 million in financing that includes the purchase of its Reno headquarters. The company is a leader in the burgeoning high-tech field of producing and supplying highly engineered cleaning materials (polymer films) used in advanced probe card and test socket applications,
The project, which includes a $1.365 million SBA loan, allows ITS to make an outright purchase of the building it has leased at 1595 Meadow Wood Lane in Reno. The project will also finance additional manufacturing and testing equipment for ITS and permit the business to benefit from a fixed operating cost.
"We're extremely proud of the aggressive investment in materials research and manufacturing innovation that ITS has done since the company was founded in 1999, and this project promises an exciting new era for our business," said Alan E. Humphrey, president of International Test Solutions. "The opportunity to take ownership of our building instead of merely leasing is one of the most important steps we could ever take as a business. The increase in manufacturing will allow us to more efficiently serve our growing client base. It's a win-win all the way around."
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"International Test Solutions stands apart as one of the most prominent technology companies in the state, and high-tech is a crucial component of economic growth," said Roger Kadz, vice president/business development officer with Nevada State Development Corporation.
All of the company's research and manufacturing operations are located in Reno, and all products are manufactured in the United States. More than 85 percent of the products produced are exported to Asia, where the majority of the world's semiconductor manufacturing plants are located, according to Humphrey. ITS supplies nearly every company that manufactures semiconductor devices, as well as most of the companies that assemble devices for final packaging.
For more information on International Test Solutions, please visit http://www.inttest.net.
Bulb Daddy's customers include such prominent names as Harrah's Casino, Minden Electric, Pershing County, the United States Postal Service, Briggs Electric, Western Pacific Electric, Dolan Toyota and YESCO, along with numerous other casinos and electricians in Northern Nevada.
The owners of Bulb Daddy, John and Lori Leferman, worked with Nevada State Development Corporation on a low-interest SBA loan that allowed them to purchase and build out their offices at 1100 Terminal Way, Reno.
"In a city of lights, I've devoted my whole life to all the newest advances in lighting," John Leferman said. "The world of LED lighting is changing so quickly and we take pride in staying on top of all the latest technology developments. We meet with manufacturers on numerous occasions throughout the year to get the latest updates on research and the industry. If you don't think lighting is a big part of your operations, just take a look at your electric bills. Modern lighting can save all types of businesses substantial amounts of money when compared with old-style bulbs."
The SBA loan allows Bulb Daddy to dedicate additional showroom, warehouse and office space to enhance its operations.
"Bulb Daddy is a perfect example of a business that dominates its niche. It's obviously a well-run business with an enviable client list," Kadz said. "By looking ahead and planning for the future, they have ownership in real property that will very likely appreciate."
Bulb Daddy specializes in commercial and industrial LED lamps and fixtures for all applications and also traditional incandescent, fluorescent and CFL bulbs and ballasts. Bulb Daddy is a key partner with NV Energy in their energy saving retrofit program with many successful completed projects. The firm's headquarters is perfectly positioned geographically to take advantage of Reno's distribution hubs including Reno-Tahoe International Airport, Interstate 80 and Interstate 580, allowing for penetration into cities throughout the West, particularly in Northern Nevada and California.
For more information on Bulb Daddy, please visit bulbdaddy.com.
Grafics Unlimited has been highly visible all over the streets and highways of greater Reno/Sparks and the rest of Northern Nevada for decades.
The company opened operations in 1976 in Southern California and made the move to Reno in 1993. Its first major Nevada project was a vehicle wrap that turned a 40-foot bus into a rolling billboard for Wild Waters park, a popular water park and recreational facility in Sparks.
Now, Grafics Unlimited (GU) has purchased a building for its new company headquarters at 1002 C Street in Sparks. The $854,618 project was financed in part with a low-interest SBA loan arranged through Nevada State Development Corporation. Heritage Bank of Nevada also participated with the financing.
"Just as we made the move from California to Reno for a strategic advantage, we made the big decision to take ownership of this real estate," said Jill Pauley, co-owner of the company with husband Bill Pauley. "We're at the point in our careers where the last thing we want to end up with is a landlord who has control over our future, over our rental rates, without amassing any of our own equity to show for it. This move will position us far better for the operational life of this company."
Jill and Bill Pauley were early adopters in the field, specializing in custom vehicle graphics as well as the design and manufacturing of unique advertising and information signage. Not only have they amassed some 35 years of experience at the helm of GU, but they have also emerged as leaders in professional installation associations and attained a 5-star standing on Yelp and yellowpages.com.
"GU relocated, but more importantly, they did it strategically, finding a new home nearby," Kadz said. "It was no small feat. This was a historic building purchase with substantial remodeling in Sparks, and it comes at a time when we're finally seeing an upswing in industrial-flex construction. Their rate of just under 4.35 percent will give them bragging rights on a high-quality loan for the next 20 years."
GU's key customers include the Regional Transportation Commission (RTC), the Washoe County Sheriff's Department, the City of Sparks and City of Reno Police Departments, the Truckee Meadows Fire Department, Nevada Museum of Art, Sierra Nevada Corporation, Frank Lepori Construction, Easy Rooter Plumbing, Dolan Toyota, Jones West Ford, Winkell Chevrolet, the Northern Nevada Food Bank, North Star Fire Department, and the State of Nevada.
For more information on Grafics Unlimited, please visit graficsunlimited.com.
For further information about Nevada State Development Corporation, and to obtain on online application, business owners can visit http://www.nsdc.com.