RENO, NEV. — The Bendetti Company has purchased a 631,115-square-foot industrial campus in Reno for an undisclosed sum. The Class B property contains three single-tenant and three multi-tenant buildings for a total of nine fully occupied units.
The units range from 12,220 to 149,600 square feet. The property also contains a 12,220-square-foot cold-storage unit.
Bendetti was able to complete the all-cash transaction using short-term financing from its partner, JCR Capital. The project was then recapitalized for a longer hold period with Reinsurance Group of America acting as the equity provider. Wells Fargo financed the debt. Both RGA and Wells Fargo were sourced through HFF.
Bendetti also recently purchased the 165,000-square-foot Spice Island multi-tenant industrial building in Sparks for an undisclosed sum.