Business Beat: Footwear brand opening logistics center in Fernley, Sparks home prices set new record
Here’s the latest business news from around Northern Nevada, with Business Beat from the Northern Nevada Business Weekly.
BEARPAW looks to Fernley for new logistics center
In 2001, Tom Romeo was meditating on a rock near Lake Tahoe’s shore when he saw a bear that looked directly at him. At that moment, he came up with the idea for BEARPAW, a casual footwear company that has since grown to a nationwide brand.
Now, the California-based business is expanding back to where it all began: Northern Nevada. BEARPAW plans to open a distribution facility next year in Fernley, which the company says should create 30 to 50 jobs.
Sparks sets new record $504,000 median home sales price
Another month, another record for housing prices in Northern Nevada — this time in Sparks.
The latest report from the Reno/Sparks Association of REALTORS says the median price for the Sparks-Spanish Springs market reached $504,000 in September, which is the highest since July’s $500,000 mark.
The median home price for the greater Reno-Sparks area remained at $530,000 for the fourth-straight month; however, that number is still up 20.5% from September 2020.
Tahoe Biltmore Lodge and Casino sells for $56 million
A California-based real estate development firm has acquired the Tahoe Biltmore Lodge and Casino in Crystal Bay. EKN Development Group closed the deal last month. The price tag? More than $56 million.
The company says it plans to continue operating the 113-room hotel and casino, with more plans to be announced at a later date.
Kaleb Roedel is a KUNR contributor and reporter with the Northern Nevada Business Weekly. For more business news, check out the Northern Nevada Business Weekly at nnbw.com or in print on Wednesdays.