Dallas-based developer enters Nevada market, adding 596,400-SF of available industrial space to Reno’s East Valley industrial submarket
Mohr Capital has started construction on a 596,400-SF speculative industrial facility at 1500 Waltham Way in McCarran, Nevada.
Located at the Tahoe-Reno Industrial Center in Reno’s East Valley industrial submarket, the new facility is Mohr Capital’s first industrial development in Nevada. It equates to nearly half of the region’s 1.3 MSF of new construction starts in the first quarter of 2021, according to CBRE’s Reno Industrial MarketView for the same quarter.
The cross-dock facility is being built on a 39.64-acre site and will feature 36’ clear ceiling height, three access points, 96 dock doors, four 14’X16’ drive-in doors, 374 auto and 100 trailer parking spaces, motion-sensor LED lighting and more. A brochure with more information on the facility is available here.
“Tenant demand for industrial space in northern Nevada continues to rise as e-commerce activities ramp up,” said Tom Theobald, Senior Vice President of Development for Mohr Capital. “Moreover, high asking rents and low vacancy in the northern California submarkets and southern California’s Inland Empire have contributed to companies looking eastward in search of cost-effective real estate. These factors, combined with Nevada’s low taxes and Reno’s pro-business environment, leave us confident we’ll secure a credit tenant quickly.”
The building is currently available for lease. Once complete, it will neighbor industrial facilities leased by PetSmart, Hobby Lobby, Tesla, Walmart, Zulily and more. Mohr Capital currently has another property under contract in Fernley, Nevada, for its next development project.
“We’re pleased to expand our development footprint into the Nevada market with a facility that will help meet the increasing demand for industrial product in the Reno-Sparks metro area,” said Bob Mohr, Chairman of Mohr Capital. “The region’s cost of living, growing workforce and location along Interstate 80 is ideal for companies throughout the country seeking to quickly distribute their products to 11 western states. We’re excited to add this facility to our portfolio and invest in this rapidly growing industrial market.”
Greg Shutt, Senior Vice President of CBRE, assisted Mohr Capital on the land acquisition and will handle leasing for the property. Tectonics Design Group is serving as the architectural engineer on the project, and ARCO Construction has been selected as the general contractor.