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C4Cube Scraps Plans at Mason Building for Basin Tower

8/24/09 - Basin Street Properties issued a press release today mentioning this week they are relocating from the Bay Area to Reno into their 300 East Second Street building, which is now called Park Center Tower. It has recently hired 10 of its planned 13 new employees who will be added to the existing staff of seven, to staff the new Reno office. In Reno, the company’s portfolio includes more than 600,000 square feet of office and retail space throughout four projects, making Basin Street the largest office space owners in the downtown Reno area. Basin’s Street’s three downtown Reno office properties are at 50 West Liberty, 200 S. Virginia and the East 2nd location.

Basin Street this week announced the completion of a lease with Electrum USA Ltd., a management services company of a privately-held gold exploration company. Electrum signed a five-year lease agreement for more than 4,000 sq. ft. at 50 West Liberty St.

In a surprising announcement however, at least surprising to me, C4Cube, which previously was planning to take up residence in the upper floors of the Mason Building on 1st and Virginia Streets, is now partnering with Basin Street Properties at the Park Center Tower Location. That's odd, because the city of Reno extended a hand by offering up 80 free parking spaces at the Galleria Parking Garage specifically for C4Cube. The Mason Building was to be painted as part of the project.

C4CUBE will begin moving into the 300 East Second Street building September 1. It will initially will move three employees into the offices, as well as assist its incubator companies to move in their employees beginning later in September.



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