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LBA Nabs Reno Industrial Facility for $29.5M

Mary’s Gone Crackers (MGC) Manufacturing and Distribution Center in Reno, NV has sold for $29.5 million. CP Logistics NVCC Building A-2, LLC, a joint venture between CalSTRS and Newport Beach, CA-based Panattoni Development Company, sold the 423,001-square-foot, Class A industrial asset to Irvine, CA-based LBA Realty.

The institutional, cross-dock distribution facility has a 36-foot clear height, low cost LED lighting, and approximately 40 extra trailer spaces. The asset is located within the 1.4-million-square-foot North Valleys Commerce Center, Reno’s most desirable distribution location, and has access to Interstates 80 and 580 and US Route 395.

JLL Capital Markets’ Mark Detmer, Bo Mills and Ryan Sitov handled the sale with Kidder Mathews.

“This is a brand new state-of-the-art building,” said Detmer. “The building is fully leased to a credit tenant, who chose the Reno market in a competitive process to establish their new headquarters.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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