New industrial space completed in Red Rock
Panattoni Development Company has completed work on the second phase of the Red Rock Business Center. The project adds an additional 200,000 square feet of speculative industrial space located in the North Valleys submarket, half mile from the interchange of U.S. 395 and Red Rock Road.
The project is being developed by Panattoni on behalf of owner Westminster Capital, a Chicago-based real estate investment manager, in conjunction with the 770,000-square-foot Petco distribution center and is located next to Pentair, Arrow Electrics and National Business Furniture, just 12 miles north of the I-80/U.S. 395 interchange. The building is divisible to approximately 50,000 square feet. The building has a 32-foot clear height, with a 60-foot speed bay at the dock wall and includes up to 28 dock high doors. There are four drive in doors, an ESFR sprinkler system, LED lighting and build-to-suit office space.
The general contractor on the project is Alston Construction and Certificate of Occupancy was received on January 6.
Westminster Capital manages a diversified portfolio of substantial commercial real estate assets throughout the United States including office, industrial/distribution, multi-family, medical office and senior living properties. The Red Rock project represents the firm’s first investment in the Reno area. Founded in 1988, the firm is headquartered in Lake Forest, Illinois. For more information, visit http://www.WestminsterCapitalLLC.com.
Panattoni Development Company is a privately held, full-service development company founded in 1986. The firm has completed in excess of 175 million square feet of commercial projects worldwide. Panattoni has developed industrial, office and flex facilities in 278 cities located in 29 states and nine countries. The firm is headquartered in California and maintains offices throughout the United States, Canada and Europe.
Heather Ashbridge, who started with Nevada State Development Corporation in 2008, previously served in several roles with the organization, including assistant vice president and loan officer. She is based in NSDC’s Reno office.