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July 6, 2020
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Reno Industrial Portfolio Sold in $50 Mil Transaction


Seagate Properties Inc has purchased a 584.9k sf, seven-building, industrial/warehouse portfolio in a prime Reno/Sparks location, for $50 mil ($85.50/sf). The acquisition was made in a partnership with in partnership with RGA ReCap Incorporated, on behalf of Reinsurance Group of America Incorporated.

The portfolio includes seven buildings ranging from 60k sf to 149.7k sf in size, on four parcels, with 24 tenants leasing an average of 25k sf each. Located just south of I-80 in Sparks, within five miles of downtown Reno and the Reno-Tahoe International Airport, the portfolio was 100% leased prior to close.

The leasing team will remain Steve Kucera and Mike Nevis of Kidder Mathews will continue to handle the leasing assignement for the portfolio on behalf of the new owner. This is Seagate Propertiesí second investment in the Reno Market in recent years. In late 2017, the company purchased Northtowne Apartments, a 220-unit property in Reno.

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