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| Brookside Corporate Center, Reno, NV |
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| 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.
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| 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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