DALLAS, TEXAS--(Marketwired - Nov. 8, 2016) -
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Dalfen America Corp. (DAC) today announced the acquisition of a 5 building, 1.25MSF, logistics portfolio located in the premiere Sparks submarket of Reno, NV. Scott Pertel and the San Francisco office of HFF (Holliday Fenoglio Fowler, L.P.) represented the seller, Global Logistics Properties, on the transaction.
The Reno Distribution Portfolio is currently 94% occupied to a mix of tenants who are primarily focused on third party logistics and next day delivery. OHL (Ozburn-Hessey Logistics), one of the largest logistics operators in the World, uses the properties as one of its key west-coast distribution hubs through which it services clients including Apple and Red Bull.
Reno has become a vital west coast location for companies focused on ecommerce and distribution. Ideally located in the geographic epicenter of the Western United States and a mere 3 hour drive from San Francisco, Reno offers direct access to key transportation routes including I-80 and Highway 395. Nevada also offers a competitive wage advantage to California, which has resulted in extensive tenant migration into the Reno market. This includes Tesla, who is currently building its $5 billion Gigafactory which is set to have the largest footprint of any building in world according to Tesla's CEO Elon Musk, who estimates it could be up to as much as 15 million square feet. Reno is also a key market for ecommerce giant Amazon, who recently completed its second distribution center facility in the area.
"This acquisition embodies our ecommerce investment strategy of buying quality assets in highly desirable infill locations along transportation corridors. The fact that the properties are located next to one of UPS's mission critical west coast ground shipping hubs, was a key factor in our decision to purchase the portfolio," said President Sean Dalfen. "Given the close proximity to California, the deregulated trucking industry, and the increased demand for next day fulfillment, Reno has become a gateway hub for many of the major west coast markets. We firmly believe in the explosive growth being seen in the ecommerce industry, and this portfolio strengthens our position to meet rising demand."
About Dalfen America Corp.
Dalfen America Corp. (DAC) is a leading industrial estate investment manager and hands-on real estate operator that is focused on acquiring, developing and operating industrial real estate throughout the United States. DAC currently owns and manages millions of square feet of premier commercial properties in the Unites States and in Canada through its Canadian counterpart, Dalfen's Limited. DAC was recently named 2016 Top Real Estate Investor Operator by the National Real Estate Investor. For more information, visit www.dalfen.com.
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