RENO, Nev.--(BUSINESS WIRE)--It’s not just the desert location that makes Reno hot, but also the growing number of global and national distribution, manufacturing and data center companies setting up operations in the area. Since 1998, the Tahoe Reno Industrial Center (TRIC) has attracted over 120 companies currently occupying more than 11 million square feet of industrial space.
“Based upon the low starting bid that has been set, it’s clear they are very motivated to sell this property.”
TRIC is the world’s largest industrial park with current tenants such as Toys-R-Us, James Hardie, PetSmart, Wal-Mart, TireRack.com, APL Logistics, Dell, Alcoa, Fed Ex, GSI Commerce, and a surge of telecommunications/data centers, including recent reports that Apple intends to build a new data center for their iCloud and iTune products in the area.
From having the lowest property taxes in the region, numerous tax incentives for businesses and site conditions fully prepped with utilities and necessary permits and zoning to allow for accelerated construction, the Tahoe Reno Industrial Center is widely recognized as a strategic business location. Even more so for logistic operations as Nevada is a major distribution hub with overnight to one day truck shipping to eleven western states.
The property offered in the online auction is approximately 104 acres located at the northwest corner of USA Parkway and Sydney Drive. Dipping far below pricing of current property listings in the center, this development parcel has a starting bid of $1.00 per square foot.
“The property owners’ core business is not to own land and their past attempts to sell it through traditional methods has not generated a successful sale,” states Ryan Devin, Director of Operations for the auction marketing company. “Based upon the low starting bid that has been set, it’s clear they are very motivated to sell this property.”
The online auction of this development site presents an incredible opportunity to set up or expand a business, or invest in Reno’s hottest industrial location.
As with all auctions on the Freedom Realty Exchange, interested buyers can download specific property documents and auction information, as well as place bids by visiting FRE.com/145R2.
The Freedom Realty Exchange®
The Freedom Realty Exchange is owned and managed by LFC Internet Marketing, Inc., a member of the LFC Group of Companies. For more than 30 years, the LFC Group of Companies has successfully auction marketed thousands of commercial, industrial, land and residential properties, with sales in excess of $5 billion; and for the last nine years, has conducted real estate auctions exclusively online. We have successfully served numerous Fortune 500 companies, real estate developers, investors, financial institutions, government agencies and real estate brokerages, providing a complete suite of real estate disposition strategies and auction marketing programs for commercial and residential property and mortgage notes.