Tuesday, December 9, 2014

HFF closes $15.8 million sale of 3-building Class A industrial portfolio in Reno, NV


Brookside Corporate Center, Reno, NV


Steve Golubchik
SAN FRANCISCO, CA – HFF announced today that it has closed the $15.8 million sale of the leasehold interest in Brookside Corporate Center, a 94-percent-leased portfolio comprised of three Class A industrial buildings in Reno, Nevada, totaling approximately 261,141 square feet.

               HFF marketed the property on behalf of the seller.  The property was acquired by Libitzky Property Companies.

Brookside Corporate Center’s buildings are located on 17.58 acres adjacent to the Reno-Tahoe International Airport, and are on a ground lease owned by the Reno-Tahoe Airport Authority.

 The state-of-the-art assets were all completed in 2006 and are less than two miles from Interstate 80, the second longest interstate highway in the U.S. connecting the East and West Coasts, and less than three miles from Interstate 580/U.S. Highway 395, a freeway that stretches from Southern California to the U.S.-Canadian border. 

               The HFF investment sales team representing the seller included managing director Steve Golubchik, director John Simerlein and real estate analyst Josh DiSalle.

John Simerlein
“The Reno industrial market has experienced a significant increase in leasing velocity over the last 24 months and continues to gain momentum,” Simerlein said.  “The announcement of the construction of Tesla’s gigafactory in the Reno area will further support this trend.”

“We feel that the accelerating absorption and strong demand in the Reno market will continue as more manufacturing and high tech industries see the cost advantages of locating in Nevada,” said Nathan Petrowsky, a Principal of Libitzky Property Companies.

The Libitzky Property Companies’ portfolio is comprised of various property types ranging from office projects to large industrial parks in California, Texas, and elsewhere.  The LPC portfolio consists of more than six million square feet of property.  Learn more at libitzky.com.




For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

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