Updated Dec 4, 2024
CapRock Partners Acquires Industrial Building From Manulife Investment Management In Sparks, NV
3200 Usa Parkway
$81,500,000
$115/SF
Building Size
707,010 SF
Asset Type
Industrial
Closing
Jul 9, 2024
About this deal
AI
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
Sparks Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93