Updated Dec 4, 2024
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
About this deal
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:
- Property Type: Industrial
- Transaction Amount: Not available
- Address: 8040 North Virginia Street
- Market: Reno
- Tenant: Carl Wasinger - Smart Warehousing
- Landlord's Representative: Eric Bennett - CBRE
- Tenant's Representatives: John Sharpe & Lyle Chamberlain - Lee & Associates
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.
On the Map
Industrial
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Players
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