The asset involved in the transaction is an industrial property located at 3300 Waltham Way and 201 Ireland Drive in Sparks, NV, encompassing 45.9 acres. The property was sold for $140,000,000 and features a total square footage of 1,100,000, resulting in a price per square foot of $127. The facility is fully leased to five tenants, including Tesla, and is situated near I-80 and the Tahoe-Reno Industrial Center, capitalizing on the growing demand in the EV and data center sectors.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $140,000,000
• Address: 3300 Waltham Way & 201 Ireland Drive
• Market: Sparks, NV
• Acres: 45.9
• Square Feet: 1,100,000
• Price Per Square Foot: $127

The transaction involved Ward Fitzgerald representing EQT Exeter as the buyer and Altus Group as the seller. The deal was brokered by Brett Hartzell, Paige Morgan, and Rebecca Perlmutter, representing CBRE. The property represents a strategic investment in an area experiencing nearly 10% rent growth year-over-year.