RENO, Nev. (April 25, 2013) – Doug Roberts, partner for the Nevada division of Panattoni Development Company, announced today the company recently finalized a 115-month lease extension with Trex Company Inc. for 337,500 square feet of industrial space in Northern Nevada.
The property is located at 2375 E. Newlands Drive in Fernley, Nev. The value of the transaction was $15,098,824.58. Michael Hoeck of NAI Alliance represented Panattoni Development Company. Michael Nevis of NAI Alliance represented the lessee, Trex Company Inc.
Trex Company Inc. manufactures wood-alternative decking, railing and fencing products sold across the United States and Canada.
Panattoni Development Company (PDC) is a privately held, full-service development company founded in 1986 by Carl Panattoni. During the last five years, the firm has averaged nearly 10 million square feet of development annually, one of the most active records in the nation. PDC has developed and managed industrial, office and retail facilities in more than 100 markets throughout the United States. The firm is headquartered in Sacramento, Calif., and maintains more than 16 regional offices across the country. For more information about Panattoni Development Company, visit the company’s website at www.panattoni.com.