HFF Facilitates $55M Silver State Portfolio Sale

The five-building portfolio consists of Lillard Business Center and Vista Industrial Park, totaling 1.25 million square feet.

by Evelina Croitoru

 45 Vista Blvd, Reno, Nev.

45 Vista Blvd, Reno, Nev.

Reno, Nev.HFF has recently arranged the $55.3 million sale of a five-building industrial portfolio in Sparks, Nev. HFF marketed the asset on behalf of an institutional seller. Dalfen America Corp., a leading real estate investment manager focusing on acquiring, developing and managing industrial real estate, purchased the properties free and clear of existing debt.

Reno Logistics Portfolio consists of five logistics facilities encompassing 1.25 million square feet divided among the distribution buildings of Lillard Busines Center, located at 350-450 Lillard Way, and Vista Industrial Park, located at 45-55 Vista Blvd. At the time of the sale the portfolio was 94 percent occupied. The assets are located in close proximity to Interstate 80, the second-longest interstate highway connecting the East and West coasts. In addition, all buildings are within 7 miles from the Reno-Tahoe International Airport.

HFF senior managing directors Rusty Tamlyn and Anthony Brent and managing directors Scott Pertel and Ryan Martin led the investment team representing the seller.

Image Courtesy of  Dalfen America Corp.