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CapRock Partners Acquires Industrial Building From Manulife Investment Management In Sparks, NV

Property Image
SOLD
$81,500,000

Nevada

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Industrial707,010 SF
Sold 07/09/2024
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Property Image
SOLD

CapRock Partners Acquires Industrial Building From Manulife Investment Management In Sparks, NV

3200 Usa Parkway

See Similar Deals
Industrial707,010 SF
Sold 07/09/2024
the dealplayerscompscontact
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Summary

NEVADA
Asset Type:Industrial
Price Per Square Foot:$115
Total Square Footage:707,010 SF
Transaction Type:Sale

An industrial building spanning 707,010 square feet located at 3200 Usa Parkway in Sparks, NV, was sold for $81.5 million. The property, part of the Tahoe-Reno Industrial Center, boasts LEED Silver certification, 36-foot clear heights, and a multitude of dock and drive-in doors.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $81,500,000
  • Address: 3200 Usa Parkway
  • Market: Sparks, NV
  • Acres: 48
  • Square Footage: 707,010
  • Price per Square Foot: $115

CapRock Partners, represented by Patrick Daniels, acquired the industrial building, marking their first purchase in northern Nevada. The seller, Manulife Investment Management, was represented by Paul R. Lorentz. Facilitating the transaction was Brian Armon of NAI Alliance, the broker involved in the deal.

Players

Brian Armon
NAI Global
Brian Armon
1 deal$81.5M volume(775) 772-0957
BROKER

Details

SOLD
IMAGE: Patrick Daniels, Paul R. Lorentz & Brian Armon DATE: 07/09/2024 ADDRESS: 3200 Usa Parkway MARKET: Sparks, NV ASSET TYPE: Industrial ~ ACRES: 48 BUYER: Patrick Daniels - CapRock Partners (@Caprock_Partners) SELLER: Paul R. Lorentz - Manulife Investment Management (@Manulife) BROKER: Brian Armon - NAI Alliance (@NAIAlliance) SALE PRICE: $81,500,000 SF: 707,010 ~ PPSF: $115 NOTE: CapRock Partners acquired a 707,010-square-foot industrial building in Sparks, Nev., for $81.5 million, marking its first purchase in northern Nevada. The LEED Silver-certified facility, previously owned by Manulife Investment Management, is part of the Tahoe-Reno Industrial Center and features 36-foot clear heights and extensive dock and drive-in doors.

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Debt Service Coverage Ratio (DSCR)

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