Dermody Properties completes Phase II of LogistiCenter at 395
RENO, Nev. — Dermody Properties last week announced it has completed the second building of Phase 2 of its massive “LogistiCenter at 395” facility in the North Valleys, making 436,363 square feet of real estate space available for lease.
LogistiCenter at 395, Phase II, Building 2 — which boasts 36-foot clear height, 71 dock doors, 58 trailer stalls and 211 employee parking spaces — is located at 8800 Military Road.
“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, in a statement.
The news comes a few weeks after Dermody announced a deal to lease 99,640 square feet of space within LogistiCenter at 395 Phase 1, Building A to national logistics firm Smart Warehousing. The deal means that all 1.25 million square feet of Phase 1, Building A is fully leased.
Later this year, Dermody plans to break ground on Building 3 which will add another 405,000 square feet.
In totality, LogistiCenter at 395 is a multi-phase, master-planned industrial park totaling more than 2.8 million square feet.
PCCP LLC is Dermody Properties’ strategic capital partner on the industrial park.
Eric Bennett and Greg Shutt of CBRE, Reno are representing Dermody Properties on the leasing of LogistiCenter at 395.
The new owner of The Crossing at Tahoe Valley is Second Bay Holding Tahoe, LLC, based in Redwood City, Calif. The 46,041-square-foot center was originally constructed in 1973.