Clarion Partners Acquires 322400 Square Foot Industrial Building In Sparks Nevada For $41.7M

Clarion Partners acquired an industrial property located at 500 Denmark Drive in Sparks, NV, for $41.7 million. The building spans 322,400 square feet with a price per square foot of $129. It features 32-foot clear heights and 36 expandable dock doors, positioning it within the Tahoe Reno Industrial Center.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $41,700,000
• Sale Date: 07/15/2024
• Buyer: Richard Schaupp
• Buyer’s Company: Clarion Partners
• Seller: Pure Development
• Brokers: Brett Hartzell & Paige Morgan
• Brokers’ Company: CBRE
• Square Footage: 322,400
• Price Per Square Foot: $129

This transaction highlights the involvement of Richard Schaupp representing Clarion Partners in the acquisition from Pure Development. The brokerage team of Brett Hartzell and Paige Morgan from CBRE facilitated the deal, contributing to the expansion of Clarion Partners' industrial operations in the Reno area.