Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, recently leased 40,750 square feet in Building 4 of LogistiCenter℠ at I-80 in Reno to Power-Sonic.
A global leader in design, marketing, distribution and application support of high-quality energy storage solutions, Power-Sonic Corporation’s products are used in a variety of industrial and electronic applications serving end markets including life safety, medical, utilities and infrastructure, Powersports and industrial automation.
Power-Sonic Holdings has a workforce of more than 1,000 with major operations in the United States, United Kingdom, France, Mexico and the Netherlands. Their new presence at LogistiCenter℠ at I-80 marks the company’s first operations center in Nevada to support all western US, Mexico, South American and Canadian customers.
Reno will be the new Power-Sonic Holdings corporate headquarters and western distribution center to support growth initiatives and provide improved customer response times and flexibility for shipping points to international customers.
LogistiCenter℠ at I-80 is a master-planned industrial park near the California-Nevada border with four buildings totaling more than 803,322 square feet. Buildings 1, 2 and 4 are fully leased, and Building 3 currently has 104,000 square feet still available.
“We chose this location for its proximity to the Nevada/California state line and Interstate 80, which allows companies to quickly access suppliers and customers in California,” said George Condon, West Region Partner for Dermody Properties. “Nevada’s business-friendly environment and exceptional tax benefits combine to make it an attractive and affordable location for companies of all sizes.”
LogistiCenter℠ at I-80 is within minutes of the three major shipping providers—UPS, FedEx and OnTrac. Bordering five states, northern Nevada is perfectly situated as the hub of the 11-state western region, with 53 million people within a one day drive. More than 65 local, regional and national carriers provide trucking services in the area, with shipments to 80 percent of the 11 western states occurring on a next-day basis.
“Our strategy throughout the country has been to build or acquire state-of-the-art facilities in highly desirable markets, and northern Nevada has always been one such market for us,” said Douglas A. Kiersey, Jr., President of Dermody Properties. “We welcome Power-Sonic to our outstanding list of customers. We believe they will truly benefit from their new Nevada home.”
Eric Bennett of CBRE represented both Dermody Properties and Power-Sonic in the leasing transaction.
About Dermody Properties
Dermody Properties is a privately-owned real estate investment, development and management firm. The company specializes in the acquisition and development of logistics real estate in strategic locations for e-commerce fulfillment centers, third party logistics and distribution customers. Founded in 1960, Dermody Properties has invested in more than 83 million square feet of industrial space. In addition to its corporate office in Reno, Nev., it has regional offices in northern and southern California, Atlanta, Phoenix, Seattle, Chicago, New Jersey and Nevada. For more information visit www.Dermody.com.
From their inception in 1970, Power-Sonic’s focus has been on the design, marketing, distribution and application support of high-quality energy storage solutions. Their products are used worldwide for a broad range of electronic and industrial applications, our key markets include life safety, medical, utilities and infrastructure, Powersports and industrial automation. They employ over 1,000 people worldwide with their corporate headquarters in the USA and major operations in the United Kingdom, France, Mexico and the Netherlands. More information can be found at www.power-sonic.com.
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