RENO. Nev. — Dermody Properties recently approved a deal to lease 99,640 square feet of building space at its massive "LogistiCenter at 395" facility to national logistics firm Smart Warehousing.
According to a Jan. 3 news release, George Condon, West Region Partner for Dermody Properties, will manage the transaction. Terms of the lease were not disclosed.
Among other services, Smart Warehousing offers warehousing and fulfillment services in more than 25 locations across 12 states. The company will reportedly bring 20 jobs to the region and marks its first operation center in Nevada.
“We’re excited to grow our footprint on the West Coast with the addition of our first fulfillment center in Nevada,” Ed Lee, COO of Smart Warehousing, said in a statement. “LogistiCenter at 395 was the ideal location for us and will significantly improve our reach and efficiencies with its excellent access to serve the entire western U.S. market.”
LogistiCenter at 395 is a multi-phase, master-planned industrial park totaling more than 2.8 million square feet in the North Valleys submarket of Reno-Sparks.
According to Dermody Properties, the Smart Warehousing deal means that all 1.25 million square feet of LogistiCenter at 395, Phase 1, Building A is fully leased.
The second phase of LogistiCenter at 395 includes two buildings as part of the 130-acre industrial park. LogistiCenter at 395, Phase 2, Building 1 currently has 181,060 square feet available; Building 2 is currently under construction and will add 436,363 square feet to the industrial park.
Later this year, Dermody Properties plans to break ground on Building 3 which will add another 405,000 square feet.
PCCP LLC is Dermody Properties’ strategic capital partner on the industrial park.