RENO, NV—Dermody Properties, has broken ground on the final two buildings in LogistiCenter 395, its 1.2 million-square-foot industrial park in northern Nevada. The company started construction on the two new facilities, Buildings A and C, on Thursday.
Upon completion, Building A will total 402,320 square feet and Building C will total 224,640 square feet. Both facilities will have ample clear height as well as car and trailer parking, features that are critical to internet fulfillment and e-commerce operations. Building A will be 36-foot clear and Building C will be 32-foot clear. The two facilities are expected to be complete in Summer 2015.
“Dermody Properties has a long history in northern Nevada,” said Michael Dermody, chairman and CEO of Dermody Properties. “We are pleased to be breaking ground on the final buildings in LogistiCenter 395 at a time when best-of-class industrial facilities in our region are in such high demand.”
Dermody Properties broke ground on the first facility in the park, Building B, a 624,000-square-foot building, in March and completed construction in early Fall.
“Our strategy throughout the country has been to build state-of-the-art facilities in highly desirable markets, and for us northern Nevada has always been such a market,” said Douglas Kiersey, president of Dermody Properties. “We have been developing here since our inception. The state's business friendly tax policies, combined with the region's central location in the western market, make it an ideal location for warehousing and distribution operations. With the news of large, innovative companies like Tesla associated with northern Nevada, interest in this market will only continue to increase.”
Located on Lemmon Drive immediately off of Highway 395, LogistiCenter 395 is within minutes of Interstate 80, the Reno-Tahoe International Airport, and three major shipping providers. Its location makes one-day delivery to the majority of West Coast consumers possible, making it an especially desirable location for e-commerce fulfillment centers.
PCCP, LLC is Dermody Properties' strategic capital partner on the industrial park.
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“Reno is an attractive regional distribution location with increasing demand for modern facilities due to California's heavy costs and regulations,” said Melanie Gangel, vice president, PCCP. “This project represents a compelling opportunity to expand our existing partnership with Dermody Properties and deliver two brand new state-of-the-art industrial facilities that are ideally located for bulk distribution, with multiple access points and highway visibility.”
United Construction Company is serving as the construction partner for the entire LogistiCenter 395 industrial park. Eric Bennett, vice president, and Gordon Zack, first vice president, of CBRE in Reno are representing Dermody Properties as the park's broker.
LogistiCenter is a national trademark brand, owned and developed by Dermody Properties. It represents the firm's business philosophy of developing class A distribution facilities that meet the supply-chain requirements of the most innovative companies.
Dermody Properties is a national industrial real estate development and operating company headquartered in Reno.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
