Reno, Nev. – A new fulfillment center that Dermody Properties, a national industrial development company headquartered in Reno, Nev., and Hillwood Investment Properties are developing for Wayfair Inc. (NYSE:W) was recently named the Industrial Deal of the Year by NAIOP, the Commercial Real Estate Development Association (NAIOP).
The 898,560-square-foot facility, known as LogistiCenter(SM) at 275, was recognized at NAIOP’s annual Night of the Stars awards, where the Cincinnati/Northern Kentucky chapter honors developers and projects that have made significant impacts on the market.
LogistiCenter(SM) at 275 is one of the largest recent developments in the Cincinnati/Northern Kentucky market and will bring new jobs to the area. The facility is expected to be complete in the second quarter of 2016.
“LogistiCenter(SM) at 275 is a significant project for Dermody Properties and for the region,” said Gregory Arnold, Partner, Dermody Properties. “We are honored that the hard work of our team members, Hillwood, CVG and all of our partners was recognized by NAIOP.”
Dermody Properties and Hillwood broke ground on the facility, which is located on a site adjacent to the Cincinnati/Northern Kentucky International Airport (CVG) in October. Dermody Properties and Hillwood leased the 52-acre site from CVG earlier this year.
David Kelly of Cushman & Wakefield served as Dermody Properties’ broker and Jeff Bender of Cushman & Wakefield and Jon Varholak of Transwestern served as the brokers for Wayfair. Paul Hemmer Company is the general contractor on the project.
About Dermody Properties
Dermody Properties is a privately held, industrial real estate development company. Founded and headquartered in Reno, Nev., the company has a national development reach, served by its regional offices in Chicago, Northern New Jersey, Phoenix, and Seattle. Over its 50-year history, the company has developed and leased more than 45 million square feet of high quality facilities to many Fortune 500 companies and other well-respected firms. To learn more about Dermody Properties visit www.Dermody.com.