AEW Capital Management Acquires Industrial Campus In Reno From WHI & McKenzie Properties For $83.2M

AEW Capital Management acquired a three-building industrial campus located at 12910–12930 Old Virginia Road in Reno, NV for a total consideration of $83,200,000. The property spans 392,900 square feet across nearly 25 acres and is currently 92.1% leased. Constructed in 2022, the asset features 61 dock-high doors and 479 parking spaces.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $83,200,000
• Square Footage: 392,900
• Address: 12910, 12920 & 12930 Old Virginia Road
• Market: Reno, NV
• Seller: WHI & McKenzie Properties
• Buyer: Jonathan Martin - AEW Capital Management
• Brokers: Will Strong, Jeff Chiate, Rick Ellison, Mike Nevis, Jack Stamets, Shawn Jaenson, Michael Matchett, Molly Miller, Aubrie Monahan, Madeline Warren & Matthew Leupold - Cushman & Wakefield
• Price Per Square Foot: $212

The transaction involved AEW Capital Management purchasing the asset from the private family investment firm WHI and McKenzie Properties, with Cushman & Wakefield facilitating the deal on behalf of the sellers while also procuring the buyer. The property is strategically located 8 miles from Reno-Tahoe International Airport, contributing to its current market position as Reno experienced an industrial vacancy rate of 14.6% in Q4 2025 amidst significant new supply.