There’s a simple reason that big industrial growth is headed to Fernley and other outlying communities: Reno and Sparks are about out of land to handle new warehouses and factories.
That came on the heels of an announcement from California’s Mark IV Capital that it plans development of big distribution centers on a 4,300-acre project in Fernley dubbed Victory Logistics Center.
He says that only one property currently for sale in Reno could meet the needs of a big industrial company. Even the sprawling TRIC — billed as the world’s largest industrial park — has only a couple of large-sized properties on the market.
“Development will have to push out of the basin given the current master plans and infrastructure,” Fairchild said.
Along with Fernley and Tahoe-Reno Industrial Center, some of that industrial growth could be headed to Carson City, the Minden-Gardnerville area and Dayton, Fairchild says.
In a just-completed analysis of the market for industrial properties in Reno and Sparks, Colliers International found that manufacturers and logistics companies soaked up more than 1.5 million square feet of industrial space this spring
On June 1, the vacancy rate in industrial space in the region stood at 5.6 percent.