RENO, NV-Multi-Employer Property Trust has added 104 acres in Tahoe-Reno Industrial Center to its local portfolio. The land will hold two million sf of development, according to Trammell Crow, which acquired the property on behalf of Kennedy Associates Real Estate Counsel, the Seattle-based firm that manages the MEPT assets.MEPT is a $7.2-billion open-end commingled real estate equity fund. The acquisition brings to more than $50 million the amount MEPT has invested in the Reno-Tahoe Industrial Center in the past several months.

In December, MEPT acquired USA Parkway Distribution Center I & II for $41.7 million. The two recently completed industrial buildings total 800,000 sf and are fully leased. One of the buildings, totaling 310,960 sf, is fully leased, and MEPT has an option to expand the facility by 287,000 sf on an adjacent parcel. The 491,400-sf second building is currently unoccupied.

The cost of the land acquisition was $10.2 million, a local industry source tells In explaining the acquisitions, MEPT describes the Reno-Tahoe Industrial Complex as an “attractive distribution hub for companies trying to capitalize on the region’s low cost of doing business, favorable tax environment, and ready access to the Western US.”

MEPT is not a newcomer to the Reno market. Previously, Trammell Crow developed on its behalf the one-million-sf Southwest Commerce Center.

Gary Duhon, managing director of Trammell Crow Co.’s Northern Nevada office, represented Kennedy Associates. Duhon says recent additions to the Reno-Tahoe Industrial Center include distribution facilities for PetSmart, Wal-Mart, Kuehne Nagel, Dell Computers and James Hardie Products. L. Lance Gilman Real Estate Services is the exclusive broker for the Tahoe-Reno Industrial Center.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.