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Tolles Obtains $114M Refi for Reno Commerce Center
CBRE arranged $114 million in financing for the Airway Commerce Center in Reno on behalf of Tolles Development Company.
CBRE’s Mike Walker and Brad Zampa on the Debt and Structured Finance team in San Francisco secured the three-year, non-recourse loan from Barings. CBRE’s Eric Bennett is leasing the property.
Walker added, “The market’s low vacancy, limited development sites and top-tier last-mile advantage will position the property for future success.”
Located at 3000-3030 Airway Drive in Reno, Airway Commerce Center is a newly constructed Class A industrial park comprised of four buildings totaling 890,000 square feet. It has high clear heights, ample car and trailer parking, 153 dock-high doors, 28 drive-in doors and multiple points of ingress/egress.
Airway Commerce Center sits adjacent to the Reno-Tahoe International Airport and is within five miles of the regional and national freeways, including I-580, I-80 and McCarran Boulevard; Downtown Reno and the California-Nevada border.
- ◦Financing
