The Reno/Sparks market offers the most compelling occupancy cost economics, and one of the largest spreads to recovery in the Western U.S., in-place rents average 20% below current market; and local market rents are below other investable western industrial markets.

The 245 Coney Industrial offering offers the rare opportunity to acquire a highly-functional, dock-high, multi-tenant and infill industrial/warehouse facilitiy in the rapidly-growing Reno/Sparks market area.

Totaling 71,427 square feet, and 64.2.% occupied, the offering is located on a fee-simple parcel, including two suites (one at 45,884 square feet and the other at 25,543 square feet).

The property’s physical divisibility and build-out perfectly accommodates the dominant type of tenant demand in the local market, which is the mid-bay-sized (10,000-50,000 square foot), dock-high industrial/distribution and manufactuing users.

The property’s central location, attractive size, diversified tenant mix, under-market rents, and 22’-24' clear, dock-high front-loading space combine to provide a highly-compelling industrial investment at attractive yields and pricing relative to other west coast infill markets.

Ideal West Coast Distribution/Manufacturing Location, Strong Industrial Market, Central Location, and Recently Completed a $1.8M Refresh/Upgrade.

The 245 Coney Island Drive property is a highly-functional, dock-high, multi-tenant in-fill industrial/warehouse facility in the rapidly-growing Reno/Sparks market. It is located to the south of Interstate 80, and to the west of McCarran Boulevard.

Sitting on almost 3 acres and totaling 71,427 square feet, the building is demised into two suites of 25,545 SF and 45,884 SF. The Portfolio’s demising and build-out perfectly accommodates the dominant type of tenant demand in the local market, which is the mid-bay-sized (10,000-50,000 square foot), dock-high industrial/distribution user. The building is 22'- 23’ clear, sprinklered, and dock-high with drive-in capability and large yard areas, which are hard for tenants to find in Northern NV.

Please note that the property is in excellent condition with no deferred maintenance, has a new roof (2023), brand new office in the vacant suite, new asphalt, new landscaping/curbing, new dock/drive-in positions and new lighting added to the tune of $1.8M.

The brand new office in suite 100 is 1,489 SF with areas for reception, showroom, or open cubicles; offers private offices, conference room break room and restrooms. The building is outfitted with heavy power in place.

An ideal location for companies interested in moving or expanding their business on the West Coast, the Reno metro area combines its traditional heritage as a distribution, mining, outdoor recreation and gaming center with distinct features of a California satellite.

Its strategic location as a central distribution point to the western U.S., business-friendly attitude, and favorable tax climate has resulted in rapid population and job growth, a more diverse regional economy, attractive amenity base, and new and expanding industrial occupiers.

Reno’s job growth has been diversified and no longer relies disproportionately on gaming, natural resources, and tourism. The metro’s manufacturing industry accounts for most of the growth in the area while the construction industry also added ample jobs due to increased demand for new buildings. Leisure and hospitality was only the sixth-leading driver of new employment and accounted for less than one percent of the jobs added in the last five years.

Corporate Neighbors

RENO/SPARKS IS A CORE INDUSTRIAL MARKET

The Reno / Sparks Industrial market is increasingly recognized as a core investment market, due to both its daily attractions as a place to do business, as well as being a strategic west coast distribution location with immediate adjacency to California.

A location in Reno includes same-day shipping reach to all major west coast markets, with access to over 60 million people.

Reno’s long-term competitive advantages also include a favorable corporate and individual tax environment, business-friendly municipalities, relatively lower cost of living, expanding regional infrastructure investment, and multiple recreation amenities.

As a result, dozens of Fortune 500 companies, including distributors, service firms, and manufacturers, have moved to or expanded within Reno; these include such consumer stalwarts as Sherwin Williams, PetSmart, Walmart, Trex, and Barnes & Noble; tech giants like Amazon, Apple, and Switch; and manufacturers including Tesla and SK Foods.