Five warehouses in the Reno-Sparks area are under new ownership after a transaction between Tolles Development Company and McKenzie Properties.
Tolles Development Company has increased its portfolio by acquiring a combined total of more than 202,700-square-feet in warehouse spaces in Reno-Sparks. Landmark buildings 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 and the present tenants will remain.
“Tolles Development Company is continuously looking for opportunities and assets in Northern Nevada,” said Chief Executive Officer Par Tolles. “Part of our expertise lies within this major Reno-Sparks industrial hub, and this acquisition allows us to get back to our roots.”
The region surrounding the Reno-Tahoe International Airport is the principal industrial center that historically has been home to Reno’s oldest commercial businesses.
“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),” said Tolles.
The five warehouses include the following:
1210 Icehouse Ave., Sparks, Nev. – 10,000 square-foot warehouse
1240 Icehouse Ave., Sparks, Nev. – 35,520-square-foot warehouse
1280 Icehouse Ave., Sparks, Nev. – 77,000-square-foot warehouse
1355 Industrial Way, Sparks, Nev. – 20,000-square-foot warehouse
575 Reactor Way, Reno, Nev. – 60,240-square-foot warehouse
Tolles Development Company is the owner of various buildings and properties in Midtown and Downtown Reno — totaling 212,000 square feet in the heart of the city. Recent acquisitions include Sticks at Midtown, 241 Ridge, 275 Hill and more.