SAN RAFAEL, California—LRE & Companies has unveiled plans for Fernley Promenade, a 13-acre mixed-use development project comprising industrial, retail, and hotel, in Fernley, Nevada.

“We’ve developed, opened, and operated hundreds of restaurants throughout Northern California and Western Nevada over two decades,” said Akki Patel, CEO of LRE & Companies. “Throughout our journey, we’ve 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.”

Fernley Promenade will have a 98-room hotel, three restaurants, three junior anchors, and 16,000 square feet of shop space. An extended-stay lodging facility, the four-story Home2 Suites at Fernley Promenade will have a swimming pool, fitness center, guest laundry room, breakfast room, and sundries shop. LRE & Companies is in the process of finalizing the project’s national junior anchors. There are already several letters of intent for the restaurant pads. The remaining retail and QSR spaces are available for lease. Fernley Promenade is adjacent to Victory Logistics District, a 4,300-acre planned industrial center capable of meeting the growing need for manufacturing, distribution, data center, and logistics development in the region. The site is located between a Super Walmart and Lowe’s facing Highway 80. The project is slated to be completed by year-end 2024.

Located at the intersection of Interstate 80, U.S. Route 50 Alternate, and U.S. Route 95 Alternate, Fernley is a 30-minute drive from Reno, Nevada, about 22 miles north of Lake Tahoe; a 12-minute drive from Tahoe Reno Industrial Center; and nearly an hour drive to Pyramid Lake. In addition to restaurants, hotels, and casinos in the city, Fernley has an emerging tech community, including facilities for Tesla, Panasonic, and Apple.

Fernley has been in a growth cycle for much of the past decade. Part of the Reno–Sparks metropolitan statistical area, consisting of two counties in Western Nevada, Washoe, and Storey, Fernley has a population of nearly 23,000, with a five-mile population projection by 2026 of 25,070. The city has a growing population, affordable housing, and employment opportunities.

“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.”

SAN RAFAEL, CALIFORNIA—LRE & Companies, a full spectrum real estate development, asset manager, construction, and hotel management company, and American Hospitality Services, Inc., a development and hotel management company acting as sponsor, operating partner, and asset manager of strategic commercial real estate assets, have unveiled the plans for Roseville Junction, a new mixed-use project in Placer County, California, one of the state’s fastest-growing counties.

“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.”

Roseville Junction will have two select-service hotels, three restaurants, an outdoor gathering space, and an entertainment and sports complex. The hotels and restaurants are currently under negotiation. To bring the community together in an outdoor gathering space through food and drink, Social Connection will offer a variety of food and beverage options, including a well-known brewery serving beer, wine, and pizza. It will offer the most prominent outdoor gathering space for miles and be family and pet friendly to appeal to the small community. The entertainment and sports complex will have a bocce ball court and 10 pickleball courts. It will also offer comfort food items such as wood-fired Neapolitan pizzas, Mexico City-inspired tacos, burgers, and more. There will also be ordering apps where guests can place food and beverage orders from their phones and have their food delivered by food ambassadors moving throughout the property. Social Connection will sit on more than 58,700 square feet.

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.

The site for Roseville Junction is 20 minutes north of Sacramento and adjacent to Highway 65 near Interstate 80, making it accessible to the entire Placer County region. It’s also near new retail and shopping amenities, including Roseville Galleria, the second-largest mall in northern California. Roseville is also near many of the area’s vineyards and wineries.

“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 Roseville submarket has demonstrated strong demographic fundamentals and a rapidly expanding population and attracted several new major employers, many of which are in the healthcare industry. Other top industry segments include public administration, construction, education services, finance and insurance, and computer and electronic products.

“With more than 135,000 people, Roseville is the most populous city in Placer County, making it the ideal location for a new mixed-use project,” said Rohit Ranchhod, president and CEO of American Hospitality Services. “With a Mediterranean climate and more than 250 days of sunshine yearly, Roseville is home to more than 80 parks and recreation facilities. The city is also just 90 minutes away from Lake Tahoe, near endless winter and water sports, and numerous hiking and mountain biking trails.”