Business Journal: Reynen & Bardis Relocating
One of Sacramento’s best-known developers is changing its long-term plans. Financially-strapped Reynen and Bardis is trying to sell its 33,000 square foot headquarters at Mather Airport.
Wednesday, March 12, 2008
The company, which is one of many residential developers pounded by the hard-hit housing market and slumping economy, is asking $6 million for the building and would like to lease one floor from the new buyer. Reynen & Bardis and partner KMS Development of Roseville sold a similar building next-door for $5.5 million to a Bay Area investor last month. Reynen & Bardis, which reported revenue of $709 million in 2005, the most recent information available, has missed loan payments and cut its work force in recent months as it struggles with the economic slowdown.