Two key Q3 industrial sales close in Reno
November 20, 2017
Two of the third quarter's biggest industrial market sales have closed, according to Reno-based Dickson Commercial Group.
In a news release, Dickson said the transaction is completed for 12085 Moya Blvd. in Stead in the North Valleys submarket.
The property is a 50,585-square-foot storage facility on 3.15 acres acquired for $3.45 million by CKMR2 LP of Sacramento.
The tenant is High Quality Organics, which partners with hundreds of family farms in more than 40 countries providing customers with high-quality organic ingredients.
The other sale was property at 601 E. Fourth St. in downtown Reno.
Dickson Commercial Group said the property includes 62,903 square feet of warehouse space on 1.86 acres, which sold for $3.8 million to EMR Land Company.
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Dickson said EMR plans to reposition and re-tenant the buildings in the coming months with significant capital improvements planned.
Dickson Commercial Group represented both parties in the transaction, with Tom Fennell and Chris Shanks representing the seller and Travis Hansen representing the buyer.
EMR Land Company, LLC. EMR plans to reposition and re-tenant the buildings in the coming months with significant capital improvements planned for the near future.
"EMR Land Company is very excited to diversify its Reno holdings with this 4th Street acquisition," Josh Thieriot, managing member, EMR Land Company, LLC, said in a statement. "We see great potential in Fourth Street and look forward to contributing to the revitalization of the historic Lincoln Highway.