In $1.5 million deal, Reno engineering firm purchases company headquarters
RENO, Nev. — K2 Engineering and Structural Design, LLC, recently purchased its company headquarters at 860 Maestro Drive in Reno.
The transaction is valued at $1.5 million, according to a June 12 news release provided on behalf of the Nevada State Development Corporation, which helped facilitate financing in conjunction with Heritage Bank of Nevada.
The commercial and residential engineering firm had previously leased the property.
“By taking advantage of the opportunity to own our own headquarters, we are taking control of our destiny,” K2 co-owner Brandt Kennedy said in a statement. “This purchase will negate any risk association with potential rent fluctuations while setting us up for the future expansion of the business.”
According to the news release, Kennedy and Jared Krupa established K2 Engineering and Structural Design in February 2005 after working together for several years at another engineering firm.
The business has completed projects throughout the greater Reno/Sparks area as well as in Las Vegas and parts of California.
“This key transaction bodes well not only for the future outlook of K2 Engineering, but also for the business climate in Northern Nevada at large,” Evan Dickson, president of NSDC, said in a statement. “It’s always exciting when a client of ours takes such a big step forward in setting up even more success in the future.”
The $625,000 deal included a low-interest SBA 504 loan facilitated by Nevada State Development Corp., the state’s largest SBA 504 loan provider. City National Bank partnered in the financing package.