Panattoni Development Sells Two Industrial Buildings in Reno for $81.1M

RENO, NEV. — Panattoni Development Co. has completed the disposition of buildings A1 and B of the North Valleys Commerce Center (NVCC) in Reno. PRISM-IQ Nevada LLC and GOF Nevada LLC purchased the properties for $81.1 million. Panattoni made the sale through CP Logistics NVCC and CP Logistics NVCC Building A-1, two joint ventures between Panattoni and a public retirement fund.

Building A1, totaling 352,957 square feet, and Building B, totaling 707,660 square feet, are located on 56 acres at 9460 N. Virginia St. in Reno. Trademark Global, Exxel Outdoors, Microflex Corp. and are tenants at the properties. Completed in 2018, the buildings are cross-docked distribution facilities with a 36-foot clear height and low-cost LED lighting.

JLL and Kidder Mathews represented the sellers in the deal.

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