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CapRock Picks Up 700K-SF Reno Warehouse
CapRock has added a 707,010 sq. ft. Class A industrial warehouse in Reno. CapRock acquired the 48-acre property from Manulife Investment Management for $81.5 million, according to Commercial Edge.
3200 USA Parkway is located within the Tahoe Reno Industrial Center (TRIC), one of the largest industrial parks in the world and a significant center for industrial manufacturing and distribution operations. TRIC tenants can reach the eight most Western states within one to two days, a market of more than 60 million people.
TRIC is a prime center for prominent institutional investment – with notable owners such as Prologis, Blackstone/Link, Majestic Realty, and GIC.
Major tenants such as Tesla, Walmart, Tire Rack, Home Depot, and Panasonic also operate within the park – a testament to the critical value of TRIC’s geographic location and position as an efficient distribution hub.
The addition of 3200 USA Parkway brings the firm’s portfolio within the state to approximately 5.0 million square feet of industrial space, acquired or developed.
- ◦Sale/Acquisition
