
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.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition