Investor activity continues to push health of Class A industrial market
Denoting a still-growing demand in the West for Class A industrial investments, JLL’s Capital Markets experts today announced the firm has closed the sale of the Zulily building, a 2014-built, 707,010-square-foot Class A warehouse/distribution project located in the Reno suburb of Sparks, Nev.
JLL Managing Directors Mark Detmer and Bo Mills completed the sale on behalf of USAA Real Estate Company. Michael Nevis of NAI Alliance served as the local market expert. CBRE Global Investors purchased the building for $41.75 million, or $59.05 per square foot.
The Zulily building is located at 3200 USA Parkway within the Tahoe Reno Industrial Center (TRIC). The building is currently 100 percent occupied through a long-term, NNN lease to Zulily.… Read More
Categories: Industrial / Logistics News & Trends
, Investor News & Trends
, JLL News
and tagged Bo Mills
, capital markets
, Industrial center
, industrial investments
, industrial real estate
, Mark Detmer
, Tahoe Reno Industrial Center