LRE & Companies have unveiled plans for Fernley Promenade, a mixed-used development project in Fernley, NV. It’s one of the fastest-growing cities in The Silver State. The project covers 13-acres and will comprise industrial and retail areas plus a hotel.

LRE & Companies is a full-spectrum real estate development, asset manager, construction, and hotel management company. The recent press release quotes Akki Patel, CEO of LRE & Companies…

“We’ve developed, opened, and operated hundreds of restaurants throughout Northern California and Western Nevada over two decades. Throughout our journey, we perfected the process of identifying the right pieces of real estate and where future growth will be. Our strategic evaluation identified several prime real estate opportunities in secondary and tertiary markets for mixed-use development projects. Due to its proximity to major highways and strong market fundamentals, Fernley is one of those locations.”

The Fernley Promenade plans include a 98-room hotel, three quick-service restaurants, three large junior anchors, and 16,000 square feet of shop space. An extended-stay lodging facility, the four-story Home2 Suites will have a swimming pool, fitness centre, guest laundry room, breakfast room, and sundries shop.

“Fernley Promenade has all the elements of a successful mixed-use development when you look at it on paper,” said Victor Chiang, vice president of development at LRE & Companies. “Being in one of the strongest counties in Northern Nevada, Lyon County, Fernley over the last 10 years has attracted large Class A industrial developers. We expect Fernley Promenade to drive tourism to the community and become a significant demand generator for future investments. The opportunity for investors, retailers, and, most importantly, the community is significant.”

A new project to build a mixed use complex in Placer County, Sacramento have been announced. LRE & Companies and American Hospitality Services, Inc have unveiled plans for three restaurants, an outdoor gathering space, and an entertainment and sports complex.

From the recent press release…

“Without a doubt, Roseville Junction is in a class of its own,” said Akki Patel, CEO of LRE & Companies. “Nothing like this project has been done before in Placer County, let alone the Sacramento area. What we’re developing is truly remarkable and a game-changer for the community. We’re proud to be part of Roseville Junction and a contributor to the future success of the Roseville community.”

Located in Northern California, Placer County has six incorporated cities and towns with a total area of 1,506 square miles of diverse geography and a population of 390,000 and 13,000 businesses. The county has more than one million acres of national forest land filled with trails, natural lakes, rivers, and streams. It is also a year-round destination for winter and summer, attracting more than one million visitors each year.

“When we first assessed the site, the first thing we noticed is its outstanding location,” said Victor Chiang, vice president of development at LRE & Companies. “It’s centrally situated amongst so much amazing retail, including Westfield Galleria, The Fountains, and Creekside Town Center. With so much retail surrounding us, there’s plenty of opportunity to attract shoppers from all over. Roseville Junction is the perfect place for them to connect and gather, enjoy the California sunshine, grab a bite to eat, and raise a glass.”

The LRE & Co. is a family organisation in real estate development, construction, and food and beverage businesses since 1999. It has been present in major markets throughout northern California and northwest Nevada. American Hospitality Services Inc. (AHSI) is a full spectrum development company acting as sponsor, operating partner, and asset manager of commercial real estate.