Tolles Development Co. acquires 5 Reno-Sparks industrial buildings | nnbusinessview.com

Tolles Development Co. acquires 5 Reno-Sparks industrial buildings

NNBV staff report

RENO, Nev. — Five warehouses encompassing more than 202,700 square feet of space in the Reno-Sparks area are under new ownership after a recent transaction.

According to a Sept. 24 news release, Tolles Development Company acquired the buildings in the region surrounding Reno-Tahoe International Airport from previous owners McKenzie Properties.

Financial terms of the deal were not disclosed.

"An often overlooked submarket, the region plays a critical role as a key distribution and manufacturing region of Reno-Sparks at a lower cost than property in the Tahoe-Reno Industrial Center (TRIC)," company CEO Par Tolles said in a statement.

Properties include The Generator, an inclusive artspace known for housing the curation of Burning Man art pieces; and hot-rod restoration firm B & T Automotive, among others.

Currently, there is no availability within the acquired properties, officials said; present tenants will remain.

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The five properties are:

1210 Icehouse Ave., Sparks, 10,000 square-foot warehouse

1240 Icehouse Ave., Sparks, 35,520-square-foot warehouse

1280 Icehouse Ave., Sparks, 77,000-square-foot warehouse

1355 Industrial Way, Sparks, 20,000-square-foot warehouse

575 Reactor Way, Reno, 60,240-square-foot warehouse