1335-1375 Airmotive Way, Reno, NV (Airport Commerce Center)
Value-Add and Infill Industrial
Acquired in October 2018

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26,624 SF warehouse (and office) on 56,628 SF (1.30 acres) of land; 43% coverage

Very well located, a few blocks from the Reno-Tahoe Airport, adjacent to I-580/US 395 (visible signage), a few exits from I-80, and 3 miles from downtown Reno.

Property was stable at purchase and today, with 4 tenants occupying 100% of the property.

Renovations to improve quality of structure have included new roof, paint, and asphalt upgrades.

All four leases have expired since purchase, with three original tenants remaining and one new company that has been at the property for several years. Rents are now at market rates, with property level cash flow well above that at the time of acquisition.

Companies including Apple, Google, Tesla, and Walmart have been moving significant operations to Reno, driving job growth and demand for commercial and residential real estate. With a population of 450,000, the Reno/Sparks metro area offers an I80 location, proximity to Tahoe, relatively low cost of living, business friendly climate, and no state income taxes.