Reno Distribution Center Changes Hands

JLL’s Capital Markets represented California State Teachers’ Retirement System and Panattoni Development Co. in the sale of a 423,001-square-foot Class A industrial property to LBA Realty.

industrial news 02bLBA Realty has acquired the Mary’s Gone Crackers Manufacturing and Distribution Center in Reno, Nev., from CP Logistics NVCC Building A2 LLC, a partnership between California State Teachers’ Retirement System and Panattoni Development Co., for $29 million.

JLL represented the joint venture in the sale of the 423,001-square-foot Class A industrial asset.

“This is a brand new state-of-the-art building,” Mark Detmer, JLL’s managing director, said in a prepared release. “The building is fully leased to a credit tenant, who chose the Reno market in a competitive process to establish their new headquarters.”

Located at 9460 N. Virginia St., the MGC Manufacturing and Distribution Center is an institutional, cross-dock distribution facility boasting best-in-class features including a 36-foot clear height, low-cost LED lighting and nearly 40 extra trailer spaces.

A larger plan

The facility is part of Phase 1 of the 1.5 million-square-foot North Valleys Commerce Center, which is home to tenants such as Microflex, Trademark Global and Exxel Outdoors.

Its location allows access to Interstates 80 and 580 and US Route 395 and is about a one-day drive to cities such as Los Angeles, Portland, Seattle and San Francisco.

Joining Detmer on the JLL team were Managing Director Bo Mill and Vice President Ryan Sitov.

Earlier this year, JLL helped CapRock Partners acquire two Las Vegas industrial parks totaling 203,134 square feet.