CapRock Partners recently planted its flag in Northern Nevada with the off-market acquisition of a 707,010-square-foot industrial warehouse at Tahoe Reno Industrial Center, but the company headquartered at Newport Beach, Calif., is no stranger to industrial development and acquisitions in the Silver State.
Since 2017, CapRock Partners has acquired, entitled or developed more than 5 million square feet of industrial property in Southern Nevada, said Chad Ridenour, senior associate of acquisitions at CapRock Partners. Reno-Sparks had long been a target market for the company, though, as it continues its expansion plans.
“Nevada is a very familiar place,” Ridenour told NNBW during a recent video conference to discuss CapRock’s Northern Nevada acquisition. “But for Reno specifically, we’ve had our eye on the market for probably a year to two now, and we’ve just been patiently waiting for the right opportunity and continually developing relationships in the market that helps us to have these off-market opportunities.”
