RENO, Nev. — Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, has completed the second building of Phase 2 of LogistiCenter℠ at 395 in the North Valleys sub-market of Reno. More than 436,000 square feet of state-of-the-art logistics real estate space is immediately available for lease. LogistiCenter℠ at 395, Phase II, Building 2 is located at 8800 Military Road in Reno.
LogistiCenter℠ at 395, Phase II, Building 2 has 36-foot clear height, 71 dock doors, 58 trailer stalls, 211 employee parking spaces, heavy power and dedicated truck circulation to both ends of the building.
“This is an outstanding location for logistics-focused companies because of its proximity to major freeways and markets and ready access to a significant labor pool in the North Valleys and other neighborhoods in Reno/Sparks,” said George Condon, Partner, West Region of Dermody Properties. “The business-friendly environment and exceptional tax benefits combine to make LogistiCenter℠ at 395 an attractive and affordable location for companies interested to move or expand their business on the West Coast.”
Within minutes of the three major shipping providers–UPS, FedEx and OnTrac–and bordering five states, northern Nevada is perfectly situated as the hub of the 11-state western region, with 53 million people within a one-day drive. Trucking services are provided in the area by over 65 local, regional and national carriers with shipments to 80 percent of the 11 western states occurring on a next-day basis.
Resident national companies like Urban Outfitters, Newell-Rubbermaid (Marmot), Amazon.com, Ryder Logistics and Cardinal Health benefit from this submarket’s labor pool, numerous transportation options and competitive lease rates.
PCCP, LLC is Dermody Properties’ strategic capital partner on the industrial park.
“This is PCCP’s sixth venture with Dermody Properties,” said Melanie Gangel, Senior Vice President with PCCP. “With the highly sought after features of this asset, we anticipate a favorable amount of interest from area logistics users seeking a large block of space.”
United Construction Company was the design-build contractor on the project. Eric Bennett and Greg Shutt of CBRE, Reno are representing Dermody Properties on the leasing of LogistiCenter℠ at 395.
“This Reno sub-market is an excellent location for a company desiring easy access to West Coast markets and beyond,” said Douglas A. Kiersey, Jr., President of Dermody Properties. “The incredible labor pool readily available to this development makes this a very attractive home for ecommerce customers.”
LogistiCenter℠, a nationally trademarked brand owned and developed by Dermody Properties, represents the company’s business philosophy of developing Class A distribution and logistics facilities that meet the supply-chain requirements of the most innovative companies.
About Dermody Properties
Dermody Properties is a privately-owned real estate investment, development and management firm. The company specializes in the acquisition and development of logistics real estate in strategic locations for ecommerce fulfillment centers, third party logistics and distribution customers. Founded in 1960, Dermody Properties has invested in more than 83 million square feet of industrial space. In addition to its corporate office in Reno, Nev., it has regional offices in northern and southern California, Atlanta, Phoenix, Seattle, Chicago, New Jersey and Nevada. For more information visit www.Dermody.com.
About PCCP, LLC
PCCP, LLC is a real estate finance and investment management firm focused on commercial real estate debt and equity investments. PCCP has $9.0 billion in assets under management on behalf of institutional investors. With offices in New York, San Francisco, Atlanta, and Los Angeles, PCCP has a 20-year track record of providing real estate owners and investors with a broad range of funding options to meet capital requirements. PCCP underwrites the entire capital stack to exploit inefficiencies in the market and provide investors with attractive risk-adjusted returns. Since its inception in 1998, PCCP has successfully committed $19 billion of capital through a series of investment vehicles including private equity funds, separate accounts and joint ventures. PCCP continues to seek investment opportunities with experienced operators seeking fast and reliable capital. Learn more about PCCP at www.pccpllc.com.