August 5, 2019
Southern California-based, Mark IV Capital acquired Crossroads Commerce Center in Fernley, NV from a partnership between Sonterra Development Company, Nevada Pacific Investment Company, LLC, and the Logan Family Land Trust for $45 million. The 4,380-acre industrial sale is the second largest industrial land transaction in Nevada history.
Cushman & Wakefield’s Brian Armon, who handled the deal, says, “The park is particularly well-situated for major manufacturing and distribution centers serving the western states. It offers an abundance of level, buildable land with nearly no topographical constraints, excellent soils and water reserved exclusively for industrial and commercial development.”
The property straddles Interstate 80, at the confluence of Highway 95 and Highway 50, roughly 30 minutes east of Reno. Victory Logistics District will be constructed in phases, kicking off with an initial 7.5 million square feet of industrial space. With groundbreaking planned for 2020, the first phase is expected to be built out within seven to 10 years.
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