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November 04, 2016

5-Building Industrial Portfolio Near Reno Sells for $55.3M

Reno, Nev. (November 4, 2016) - Dalfen America Corp. has purchased a 5-building industrial portfolio in Sparks, Nevada for $55.3 million. The seller was Global Logistic Partners (GLP), a leading provider of modern logistics facilities in China, Japan, Brazil, and the United States. Kidder Mathews industrial brokers J. Michael Hoeck, SIOR, Michael Nevis, SIOR, CCIM, Dave Simonsen, SIOR, CCIM, and Steve Kucera, CCIM represented GLP US as the local leasing and market experts, along with Holliday Fenoglio Fowler's (HFF) Anthony Brent, Ryan Martin and Scott Pertel, who represented the seller, GLP US in this transaction.

Dalfen America Corp. is an industrial real estate investment manager with properties in key markets throughout the United States and Canada. This is their first entry into the Nevada marketplace.

The 1,250,084 square foot portfolio is part of Lillard Business Center and Vista Industrial Park. The distribution buildings are located within seven miles of the Reno-Tahoe International Airport, and in close proximity to Interstate 80, the second largest highway in the United States, connecting the West Coast to the East Coast.

"The northern Nevada market is considered a "bargain" when comparing cap rates to neighboring California, where they are as much as 250 basis points lower," said Hoeck. "There is still a considerable amount of investment dollars looking to be placed in commercial real estate and the Reno area is a good alternative investment position," he said.

Dalfen America Corp. has retained Kidder Mathews as the listing brokerage and property manager for this portfolio.

About Kidder Mathews
Kidder Mathews is one of the largest independently owned commercial real estate firms on the West Coast, with over 600 real estate professionals and staff in 17 offices in Arizona, California, Nevada, Oregon, and Washington. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, sustainability, and project and construction management services for all property types. The firm performs $4.7 billion in transactions, manages over 37 million square feet of space, and conducts over 1,300 appraisals annually. For more information, visit www.kiddermathews.com.

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