Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, in partnership with Locus Development Group, has announced that all three buildings comprising The Park at McCarran logistics park are fully leased. The park offers a combined 1.35 million square feet of state-of-the-art logistics space.
The first building completed, a 995,782-square-foot logistics facility, was a build-to-suit for the Ames Companies, which specialize in manufacturing non-powered lawn and garden products. The building is fitted with 349 auto parking spaces, four grade-level doors, 124 dock-high doors and 169 trailer spaces.
“The Park at McCarran is one of the largest developments Dermody Properties has seen in the last decade, offering a unique and strategic opportunity for our customers due to its Class A logistics offerings and position within the western region,” said John Ramous, Nevada Partner at Dermody Properties. “We are thrilled that we were able to accommodate multiple customers and their distribution needs in the region.”
Building 2, totaling 145,048 square feet, was leased to Inno-Pak, a global company offering packaging solutions for the foodservice and grocery industries.
Both Essential Labs, LLC. and Fidelitone occupy the third building. Essential Labs, LLC., which occupies 96,313 square feet, offers supplies to support small businesses, hobbyists and indie brands in candle and soap making. Fidelitone, a top third-party logistics provider offering specialized supply chain management solutions, leased the building’s remaining 110,111 square feet.
“From lease negotiation through construction, it was a seamless and pleasant experience working with the team at Dermody Properties,” said Tabitha S. Thornhill, Vice President of Corporate Real Estate & Executive Administration at Fidelitone. “In an important market like Reno, they delivered our newest omni-channel fulfillment center exactly as we imagined. As specialists in logistics and ecommerce real estate, we know we have the right partner in Dermody Properties to help us identify, plan and develop our fulfillment centers as we continue to grow our national fulfillment network.”
The Park at McCarran is strategically located near northern Nevada’s robust highway network, only four miles east of US 395/Interstate 580 with immediate access to Interstate 80. The Reno-Tahoe International Airport, which receives over 114 million pounds of cargo annually, is only one mile east of the logistics park.
“We are very pleased with the pace and success of leasing activity at The Park at McCarran,” said Elizabeth Kauchak, Chief Operating Officer at Dermody Properties. “A favorable tax climate and two-day proximity to over 70 million consumers in the western market are undeniable advantages of conducting business in Nevada.”
Dermody Properties currently has eleven properties available in Nevada, totaling 4.2 million square feet. For more information, please visit the region page on the Dermody Properties website.
About Dermody Properties
Dermody Properties is a privately-owned real estate investment, development and management firm that 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 more than $10 billion of total capital across all platforms nationwide, having acquired and developed approximately 110 million square feet of logistics and industrial facilities. In addition to its corporate office in Reno, Nev., it has regional offices in northern and southern California, Atlanta, Phoenix, Seattle, Chicago, Dallas, Indianapolis and New Jersey. For more information, visit www.Dermody.com.
About Locus Development Group
Locus Development Group, LLC is a real estate development company, specializing in land development of industrial, flex, office, storage units, and residential. Current projects include Reno Experience District, Tahoe Reno Industrial Center, The Park at McCarran, McCarran Business Park, and Rancharrah. www.locusdevgroup.com
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