Dermody Properties completes first industrial building for LogistiCenter at I-80
June 26, 2017
Dermody Properties has completed the first of four industrial buildings for its LogistiCenter at I-80 project.
The company marked the completion of the first building in Phase 1 of the project with a flag raising ceremony and luncheon on June 21 at the Verdi location.
The business park is located near Cabela's in Verdi approximately four miles from the California border. The 223,619-square-foot building is e-commerce ready and features 32-foot clear height, 146 car stalls, 46 dock doors, four drive-in doors and a 60-foot loading bay.
"This site is in a strategic, highly desirable location," George Condon, a partner at Dermody Properties said in a press release.
Its close proximity to California makes the building a good fit for warehouse, distribution and e-commerce companies.
"In the business of logistics, time is very important," Michael Dermody, chairman and CEO of Dermody Properties, said at the event.
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He said they already have several potential tenants interested in the leasing space in the park. The first 223,619-square-foot building was 100 percent leased before construction was complete. Dermody did not disclose the name of the tenant but said that it will be leased to a well-known, international outdoor clothing company.
Dermody Properties purchased the land for the LogistiCenter at I-80 from Chip Bowlby, a local developer who is currently developing several large-scale projects in Reno including a 141-acre master planned community at Rancharrah, the redevelopment of the former Park Lane Mall site and a multifamily project in south Reno.
"It took a lot of vision for Chip to commit to this site after it had not been developed for so many years," Dermody said.
United Construction served as the general contractor on the project. The first building provided an average of 150 full time jobs for seven months of construction.
In total, the park will consist of four industrial buildings constructed in the two phases. The second building of Phase 1 is currently underway and the 182,000-square-foot building is slated to be completed in September.
Once all four buildings are complete, it will create $650,000 worth of taxes for the Washoe County and the Washoe Country School District, Dermody said.
For information about LogistiCenter at I-80 and Dermody Properties, visit http://www.dermody.com/.