By james art 
Caprock acquired 707,010 square feet of class A logistics space in 3200 USA Parkway at the Tahoe Reno Industrial Center in July and quickly followed this purchase with the acquisition of two freestanding warehouses of 120 and 250 Greg Saint St.
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Caprock Partners continued its industrial purchase in North Nevada with the recent acquisition of a building of 117,000 square meters on 55 Vista Blvd. in sparks.
Caprock acquired 707,010 square feet of class A logistics space in 3200 USA Parkway at the Tahoe Reno Industrial Center last July and quickly followed this purchase with the acquisition of two free warehouses at 120 and 250 GREG ST. St. St.
Chad Rader, a senior Caprock associate, told NNBW that the company would continue to look for targeted acquisitions in North Nevada, as well as seek additional opportunities for new construction.
“We are a class A developer, but we actually started in the space of added values,” Rayden said. “We are also very comfortable with both classes of assets. We have quite a wide place in properties we look at, which has been displayed in Renault in what we have downloaded in the last six months.
“We will continue to focus on land and development deals while we are still looking for industrial plays.”
Caprock Partners has added more than 1 million square meters of industrial space to Nevada to his wallet over the last two quarters. The company based in Newport Beach, California, has acquired, developed and entitled over 33 million square meters of industrial and logistics facilities in Western and central American since the beginning of 2009, its portfolio in Nevada consists of more than 5.3 million Square meters of industrial space, most in South Nevada.
Taylor Arnett, Senior Vice President at Caprock Partners, said in a statement that the acquisition was associated with the company’s entrepreneurial approach as it expanded its print in North Nevada.
“Renault is a dynamic and fast -growing market and we look forward to continuing to support the Caprock portfolio with high quality investments that give exceptional value to our investors,” Arnet said.
The addition of industrial assets to North Nevada to the company’s portfolio was a natural extension of Caprock’s work in the southern half of the state, Ridenour added.
“Renault works very much like Las Vegas-Land limits and has the same benefits. We are very familiar with Vegas and felt very effective to move to Renault, “he said.
The building on 55 Vista Blvd. on Sparks is right north of the Interstate 80 and has long been occupied by Keefe Supply Co., a leading supplier of food, clothing, personal care and other items for the correctional facilities commissioners. KEEFE’s Sparks Distribution Facility serves customers in Nevada, Idaho, Washington, Oregon and Utah.
“This is a good quality building that is very effective for a distribution user,” Ridenour said. “They are a long-term tenant tenant.”
The building was built in 1995 and sits on a five -acre plot. The transaction is in the lease of the tenant, who is ready for renewal, added Ridenour.
“With the increase in the market (and rental prices have increased), it causes other leasing leasing,” he said. “This is a great opportunity to bring leasing to the market (prices); This is the part of this transaction added. “
The internal Caprock development team can also work to improve the operational cost of the facility, Ridenour said. Much of Caprock’s success in North Nevada is due to numerous teams that are downloaded as one, he added.
“It was a great experience that moved to Renault,” Rayden said. “The successes we have had for great effort from our assets management and development teams. Each acquisition improved after we entered the market.
“We are proud of what we were able to do in 2024,” Ridenner added. “It was a year of train. The 10-year-old treasury was up and down and it was difficult to understand what would happen. But Reno is a market that we feel confident on the basis of the basics and benefits that Reno and Nevada provide. This is the reason why we planted our flag last summer and will continue to be (active) on the market moving forward. “
Joel Fountain and Nick Knecht of Dickson Commercial Group, along with Jeff Huberman of Lee & Associates, represent the seller on 55 Vista Blvd. Caprock partners presented themselves in the purchase.