Updated Jan 28, 2025
Nuveen Real Estate Acquires Fully Occupied Industrial Portfolio In Reno For $90.2M
4681 Aircenter Circle, 4689 Aircenter Circle, 4745 Longley Lane, 4855 Longley Lane & 4980 Longley Lane
$90,200,000
$36/SF
Building Size
497,875 SF
Asset Type
Industrial
Closing
Jan 28, 2025
About this deal
AI
Nuveen Real Estate acquired an industrial portfolio consisting of five fully occupied buildings located at 4681 & 4689 Aircenter Circle and 4745, 4855 & 4980 Longley Lane in Reno, NV. The total square footage of the properties equals 497,875 square feet, with a sale price of $90.2 million, resulting in a price per square foot of $181.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $90,200,000
- Address: 4681 & 4689 Aircenter Circle, 4745, 4855 & 4980 Longley Lane
- Market: Reno, NV
- Buyer: Nuveen Real Estate
- Brokers: Jack Stamets, Jeff Chiate, Matt Leupold, Michael Matchett, Molly Hunt, Will Strong, Aubrie Monahan, Rick Ellison & Madeline Warren - Cushman & Wakefield
- Total Square Feet: 497,875
- Price Per Square Foot: $181
The properties were sold by Link Logistics and were represented by Cushman & Wakefield’s National Industrial Advisory Group in this transaction. This substantial portfolio is strategically located near the Reno-Tahoe International Airport, highlighting the investment's potential in industrial real estate.
Players
Reno 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
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93