Tom Miller, CCIM
Reno/Sparks New Business Activity Update
TNT Auctions, out of Salt Lake City, has purchased 9 acres in the Tahoe Reno Industrial Center for roughly $880,000. TNT Auctions specialize in selling municipal surplus property city, county, state college/university and school districts. fleet equipment, heavy equipment and helping banks reduce “non performing” assets and other real estate. The company is currently finish grading its site and will use it as its area auction yard. It already has some fleet automobiles stored on the site for a future auction. Also expanding in TRI, Trammell Crow purchased 104 acres in the Tahoe Reno Industrial Center for $10,227,343. The 104 acres adds to MEPT’s holdings at TRI. Previously they purchased two buildings totaling over 800,000 square feet dubbed USA Parkway Distribution Centers one and two. One is a 310,000 square foot building that is currently occupied by Tire Rack. The second at nearly 500,000 square feet is presently unoccupied. MEPT is looking to leverage USA Parkway’s location in TRI as an attractive distribution hub for companies trying to capitalize on the area’s low cost of doing business, favorable tax environment and as a distribution point with 24 hour access to 11 western states. In addition to those two, F. Rogers, one of the largest insulation and specialty companies in the Western United States, has leased 100,000 square feet in Union Property Capital’s 500,000 square foot building at TRI. This is the second company to lease space from Union Property Capital, a California based firm. Midwest Air Technologies has leased 140,000 square feet. F. Rogers will utilize its space as warehouse for storage of material for distribution throughout the West Coast. The company presently has a showroom in Reno where it displays all of its home improvement services.