BRENT BOHLKENSenior Managing [email protected] RE License #01022607
RON REYNOLDSCalifornia [email protected]
FOR SALESingle Tenant Net-Leased Investment
2401 E. 5th Street | Reno, NV 89512 FEATURES:
• 38 Position Cross-Dock Truck Terminal on 2.17 Acres
• ± 13,400 SF Under Roof w/ Offices and Warehouse
• New Roof in 2018
• ± 2.17 Acres Land Area
• 16’ Ceiling Height
• APN: 008-224-01
• MUE4 Zoning
• Credit Tenant - Central Freight Lines
• Tenant has occupied for over 25 years
• New seven year lease recently signed
• Excellent Freeway Proximity to I-580 & I-80
SALE PRICE: $3,300,000CAP RATE: 6.65%
80
580
FOR SALE2401 E. 5th Street | Reno, NV 89512
SITE
Single Tenant Net-Leased Investment
SITE AERIAL
PLAT MAPAPN: 008-224-01
2.17 AC
80
SITE
± 2.17 ACRES
AREA OVERVIEWMAJOR ECONOMIC DRIVERS TAHOE RENO INDUSTRIAL CENTER
The Tahoe Reno Industrial Center (TRI Center) is a remarkable, massive 107,000-acre park that encompasses a developable 30,000 acre industrial complex. It is located in Storey County, Nevada approximately nine miles east of the Reno-Sparks area on the 1-80 freeway.
TRI Center currently has approximately 15,000 acres in Phase I, Phase II and Phase III zoned for industrial use, with plans of future expansion. This vast park is intended to be a mixed-use, nonresidential development, consisting of a wide range of industrial, office and commercial businesses. There is approximately 11 million SF of industrial space now in use by almost 130 companies.
107,000 ACREStotal area
11.0 MSFtotal industrial space
170+tenants
APPLE DATA CENTER
The one that started it all. The Reno area has had its fair share of economic development triumphs, including distribution centers for some well-known companies. Apple's $100 million data center, however, was the first sexy project to really put Reno on the map while making it a viable location for data centers at the same time. Since Apple's arrival, the area has racked up a nice list of data center facilities as well as high-profile projects such as Tesla and Switch. The data center also continues to expand years after its announcement and is poised to get 100% of its power from renewable energy sources.
$100.0M+400,000+ SF
TESLA GIGAFACTORY
Costing $5 billion and projected to employ 6,500 people once up and running, Tesla Motors’ gigafactory at the Tahoe Reno Industrial Center is considered one of the biggest wins in economic development history. The gigafactory is the linchpin in Tesla’s plans for expansion, manufacturing an estimated 500,000 battery packs for the company’s electric cars each year when operational. It will also allow the company to eventually scale up its Tesla Energy line of storage batteries for homes and businesses. Just as important as its raw numbers, however, is its impact on Reno’s reputation as a place to do business for companies looking to expand.
$5.0B10.0 MSF
RACKSPACE DATA CENTER
San Antonio-based Rackspace plans to build a $422 million, 150,000-square-foot data center at Reno Technology Park, which will be serving clients on the West Coast. The company is projecting $95.5 million in payroll as well as a projected economic impact of $323.4 million. Rackspace is a managed cloud services company with 300,000 clients in more than 120 countries.
$422.0M150,000 SF
SWITCH SUPERNAP CAMPUS
The colocation data center at the Tahoe Reno Industrial Center is a huge undertaking, projected to cost $3 billion and comprise of 6.49 million square feet. Once finished, the SUPERNAP will be a key part of Switch's "Superloop" system, allowing incredibly fast connection speeds for clients in a circular area bordered by Reno, San Francisco, Las Vegas and Los Angeles. It will also be the largest data center campus in the world and house the largest single data center building at 1.2 million square feet. Switch's clients number more than 1,000 and includes high-profile names such as eBay, Xerox, DreamWorks and Shutterfly.
$3.0B6.4 MSF
AMAZON RENO FULFILLMENT CENTER*
Amazon operated a fulfillment center in Fernley for years before deciding to do a horizontal move to Reno by building a new 630,000-square-foot facility. Compared to the old Fernley center, the new facility in Reno literally got supersized to handle larger packages while also featuring the latest technology in Amazon's warehousing arsenal. The facility processes tens of thousands of items per day.
*Note: The Amazon Reno Fullfillment Center is NOT located at the TRI Center.
$100.0M630,000 SF
TENANT OVERVIEW
Property 2401 E. 5th Street Reno, NV 89512
Tenant (Lessee) Central Freight Lines, Inc.
Term 84 months
Commencement Date March, 2018
Termination Date February 29, 2025
Extension Option One (1) Seven (7)-Year Option at $21,000 NNN per month ($252,000 Annual)
Monthly Rent $18,310
Annual Rent $218,600
Payment of Rent Monthly rent - first of each month
Lease Form AIR Single Tenant Net Lease
2401 E. 5th Street is currently 100% leased by Central Freight Lines, Inc. The tenant has been occupying the property over 25 years and has just renewed for an additional seven (7) years at $18,310/month.
Central Freight Lines has sustainability, financial strength and an infrastructure designed to intelligently support the logistical needs of North America’s largest manufacturing, retail and distribution enterprises. Central Freight Lines entire team is focused on: Safety, Sustainability and Service. They have expanded to cover shipping services through 21 states. Central continues to deliver ever-improving value to their customers. They are proud to be celebrating 90 years of service to the shipping public.
CENTRAL FREIGHT LINES, INC.
CENTRAL FREIGHT LINES SERVICE AREA
N
RENO
SPARKSSITE80
580
LOCATION2401 E. 5th Street | Reno, NV 89512
BRENT BOHLKENSenior Managing [email protected] RE License #01022607
RON REYNOLDSCalifornia [email protected]
1 Mile 3 Mile 5 Mile
2018 Population 18,656 126,054 256,342
2023 Population 19,995 134,525 273,566
Pop. Growth (2018-2023) 7.18% 6.72% 6.72%
2018 Households 6,951 50,793 102,144
Average HH Income $41,729 $50,223 $63,700
Median Home Value $153,825 $209,161 $263,147
Total Businesses 1,148 9,485 15,257
Number of Employees 30,383 136,064 196,295
DEMOGRAPHIC