A little over a year after acquiring the former Santa Fe Hotel building, Marmot Properties is adding another historic building to its portfolio, this time in Reno’s popular Midtown district.
Marmot Properties officially closed on 960 S. Virginia St. on Monday, according to CEO Batuhan Zadeh. The company bought the nearly 100-year building for $2.1 million.
The price was especially attractive for Marmot given how much real estate costs have risen in Midtown since the neighborhood’s renaissance.
“I’m surprised the seller sold it to us for this price,” Zadeh said. “We want to do as many projects in Midtown and downtown as possible so this location is a no-brainer for us.”
Midtown Reno building used to be a Coca-Cola bottling facility
Built in 1927, the building initially gained fame as the Shoshone Coca-Cola Bottling Company building , churning out fizzy drinks until operations moved to Vassar Street in the 1970s. After that, it housed Resco Restaurant Equipment & Supply Co.
In 2008, Junkee Clothing Exchange moved in and operated a popular used clothing and vintage store. In September, Junkee moved to Reno Public Market after attempts by its owner to buy the building were unsuccessful.