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8040 North Virginia Street

Smart Warehousing Renews 99,640 SF Lease In Reno With Tenant Rep John Sharpe, Landlord's Rep Eric Bennett
LEASEDIndustrial

Smart Warehousing Renews 99,640 SF Lease In Reno With Tenant Rep John Sharpe, Landlord's Rep Eric Bennett

8040 North Virginia Street

Building Size

99,640 SF

Asset Type

Industrial

Closing

Feb 1, 2024

AI

The property involved in this lease transaction is an industrial asset located at 8040 North Virginia Street in Reno. The property spans a total of 99,640 square feet, making it suitable for various industrial operations.

Summary of transaction details:

Lee & Associates brokered the lease renewal for Smart Warehousing's 99,640-square-foot space in Reno. John Sharpe of Lee & Associates represented the tenant, while Eric Bennett from CBRE acted as the landlord's representative. Lyle Chamberlain, also from Lee & Associates, highlighted the property's advantageous location with convenient access to major transportation corridors.

Players

John Sharpe

Lee & Associates

Broker

7 deals

Broker

Reno Industrial Market Snapshot

Boundary boundary · Industrial · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93