Mohr Capital Starts Reno-Area Industrial Facility

1500 Waltham Way in McCarran, Nev. Image courtesy of Mohr Capital

Mohr Capital has started construction on a 596,400-square-foot speculative industrial facility at 1500 Waltham Way in McCarran, Nev. The project, which is taking shape on a 39.6-acre site in Reno’s East Valley submarket, at the Tahoe-Reno Industrial Center, is the company’s first industrial development in Nevada.

Tectonics Design Group is the project’s architectural engineer, and ARCO Construction has been selected as the general contractor.

The cross-dock facility will feature 36-foot clear ceilings, three access points to the site, 96 dock doors, four 14- by 16-foot drive-in doors, 374 auto and 100 trailer parking spaces, and motion-sensor LED lighting.

Nearby industrial facilities are leased by Tesla, Panasonic, Walmart, Zulily, Tire Rack, PetSmart, Home Depot, Hobby Lobby and other major companies.

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Tom Theobald, senior vice president of development at Mohr Capital, said in prepared remarks that tenant demand for industrial space in northern Nevada continues to rise as activities ramp up. In addition, high rents and low vacancy in the Inland Empire and northern California submarkets have been forcing companies to look eastward in search of cost-effective real estate, he added.

Greg Shutt, senior vice president at CBRE, assisted Mohr Capital on the land acquisition and will handle leasing for the property.

Desirable desert

Mohr Capital has another property under contract in Fernley, Nev., roughly 25 miles east of McCarran along I-80, for its next development project.

Metro Reno’s East Valley submarket has an average industrial availability of 7.8 percent, on an inventory of 21.6 million square feet, according to a second-quarter report from CBRE. The average asking rent is $0.49.

In April, Mohr Capital announced the imminent start of construction on an 827,00-square-foot spec industrial building in the company’s Mohr Logistics Park, roughly 20 miles from Indianapolis.