Triple Net Properties of Santa Ana, Calif., said last week it sold a 75,257 square-foot warehouse at 795 Trademark Drive in Reno, Nevada for $10.6 million.
The buyer is a private investment group, Skyline LP.
"Triple Net Properties strategically reevaluated its assets in Reno and is looking toward expanding its portfolio in other markets," said Dan Vittone, a vice president of Voit Commercial Brokerage who was among the brokers handling the sale for Triple Net.
In recent months, other northern Nevada properties sold by Triple Net have included the office building at 200 S. Virginia, the North Reno Plaza anchored by Sak-N-Save, the Truckee River Office Tower at 300 E. Second St. and the Yerington Plaza anchored by Raley's.
The property at 795 Trademark Drive in South Meadows is fully leased to Avnet-Memec, one of the world's largest distributors of semiconductors and computer equipment. Avnet acquired privately held Memec Group Holdings Ltd. in July.
The building was originally developed by the Allen Group of San Diego. The Allen Group was ultimately sold to Kilroy Realty Corp., who in turn sold the building to Triple Net Properties as part of a larger portfolio of industrial buildings located in Las Vegas and Temecula.
Joining Vittone in representing Triple Net Properties were Alan Pekarcik, Mike Bouma, Rob Mitchell of Voit's Southern California offices. Chris Maling and Dave Maling of Marcus and Millichap represented the buyer.