By james art 
Nuveen Real Estate has gained a fully busy, five industrial portfolio buildings for a total value of 497 875 square feet in Renault, Nev., To Renault-Taho International Airport. Link Logistics sold the properties for $ 90.2 million.
The seller was represented by Cushman & Wakefield’s National Industrial Advisory Group, which includes Jeff Chia, Rick Elison, Matt Leopood and Aubrey Monahan from the National IAG of West Hunt, in collaboration with Will Strong, Michael Matchet, Jack Madlin Warren of the National IAG of the company – Mountain West Team.
The limited industrial inventory in Reno helps to give Nuveen an advantage.
The five free -standing buildings at 4681 and 4689 Aircenter Circle and 4745, 4855 and 4980 Longley Lane cover 27 acres. The apartments range from 19,000 to 153,000 square feet. The functions include clear heights of 24 to 25 feet, extensive loading capabilities with 68th grade and 11th doors, as well as power to maintain wide -ranging operations.
Nevada’s fast -growing industrial market
The strong labor pool, industrial demography and the various transportation opportunities have made it one of the fastest growing industrial markets.
“In the last decade, Tesla and other major companies have turned Northern Nevada into an e -commerce, logistics and production center,” said Bryce Klutts, President and Executive Director of Renault Metcalf -based builders, said Bryce Klutts, president and executive director of Renault -based Metcund builders, said Bryce Klutts, president and CEO of Renault Builders Metcalf Builders, said Bryce Kluts, President and CEO of Reno Builders based on Renault. CEO of commercial propertyS
“With large corporations such as Walmart, Google, Apple and Microsoft, they create key operations at the Tahoe Regional Industrial Center – and many supporting companies that attract – demand for industrial and production development is increasing significantly.”
This has become a major focus on the Western Nevada Economic Development Authority as the region is working to diversify its economy, he said.
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Metcalf Builder General will break next month of its latest industrial development at the Tahoe Regional Industrial Center.
Clutts also stressed that the Nevada business economy as key factor companies moving companies to move or expand to North Nevada, especially compared to California.
“The quality of life of employees and the excellent opportunities available in Nevada are insurmountable reasons for the business to move here,” he added.
In July, Barringes provided a loan of $ 114 million to finance the Respiratory Trade Center, a recently completed warehouse/distribution in Renault.
Approximately 900,000 square feet is developed by Tolles Development and its stock partners. Of the four buildings, the largest is 435,500 square feet.
Also this month, Clarion Partners acquired an industrial building with an area of 322 400 square meters at 500 Denmang Drive in McCarran, Nev. Pure Development sold the asset for $ 41.7 million.