Industrial real estate firm expands Northern Nevada portfolio in burgeoning industrial real estate submarket with 100% leased warehouse asset
SPARKS, Nev. – February 12, 2025 – Western and Central U.S. industrial real estate investor, developer and asset manager, CapRock Partners (“CapRock”), today announced its closing on 55 Vista Boulevard, a 117,000-square-foot, free-standing industrial building in Sparks, Nev. The transaction marks CapRock’s third acquisition in Northern Nevada, increasing the firm’s total statewide investment and development pipeline to 5.37 million square feet of industrial space.
Built in 1995, 55 Vista Boulevard is a single-tenant warehouse on a five-acre site within the Sparks industrial submarket. Fully leased, the property features 24-foot clear height, 26 dock-high doors, two grade-level doors, and a 0.50-acre trailer parking yard.
“55 Vista Boulevard represents an excellent value-add investment in one of Reno’s strongest submarkets, and we are excited to introduce another strategic asset to our Northern Nevada portfolio,” said Chad Ridenour, Senior Associate at CapRock Partners. “Reno’s industrial market is poised for continued growth, driven by strong demand for logistics and distribution services, expanding e-commerce, and ongoing investment in infrastructure.”
55 Vista Boulevard is well-positioned for efficient logistics and distribution. North of Interstate 80, a key east-west corridor connecting the San Francisco Bay Area to the East Coast, and close to Interstate 580, which links northern and southern Nevada, the location provides convenient access to regional and national markets and is within a day’s drive to major cities like Sacramento, San Francisco, Los Angeles, and Portland. 55 Vista Boulevard is approximately six and a half miles from Reno-Tahoe International Airport and approximately seven miles to Downtown Reno.
“Sparks’ advantageous location and business-friendly policies make it a competitive and attractive area for companies looking to establish or expand their operations in the Western U.S.,” added Ridenour. “As the market continues to grow, CapRock is committed to investing in opportunities that enhance the area’s economic performance and efficiency, and that align with our long-term strategy.”
Reno’s industrial real estate market is a national leader in rent growth historically with demand driven by its modern logistics and distribution facilities, competitive leasing costs, and strong rail and air connectivity, as well as limited regional land availability and federal land ownership. Boosted by Nevada’s supportive economic approach and skilled workforce, Reno has drawn many Fortune 500 companies such as Panasonic and Tesla, and it continues to attract more corporations seeking an efficient, cost-effective location in the Western U.S.
The 55 Vista Boulevard purchase transaction was facilitated by Joel Fountain and Nick Knecht with Dickson Commercial Group as well as Jeff Huberman with Lee and Associates.
“The acquisition of 55 Vista Boulevard aligns with CapRock’s entrepreneurial approach as we tactfully expand our footprint in Northern Nevada,” said Taylor Arnett, Senior Vice President at CapRock Partners. “Reno is a dynamic and rapidly growing market, and we look forward to continuing to bolster CapRock’s portfolio with high-quality investments that deliver exceptional value to our investors.”
CapRock entered the Reno industrial market in 2024, acquiring two existing industrial warehouse assets. 3200 USA Parkway is a 707,010-square-foot cross-dock industrial warehouse in the Tahoe-Reno Industrial Center (“TRIC”). 120 and 250 Greg Street includes two free-standing mid-bay warehouses totaling 177,100 square feet in Sparks’ infill submarket.
Adding 55 Vista Boulevard, CapRock’s growing local portfolio now exceeds one million square feet in Reno, and the firm is actively looking for additional acquisitions throughout the Western and Central U.S.
As of December 31, 2024, CapRock’s current portfolio, including its development pipeline, includes approximately 21 million square feet of Class A logistics facilities across the Western U.S. and Texas that the company recently completed, is currently building, or is about to commence. CapRock continues to pursue additional opportunities for new development in targeted markets throughout the Western and Central U.S.
ABOUT CAPROCK PARTNERS
Founded in 2009 in Newport Beach, Calif., CapRock Partners is a privately owned investor and developer of industrial real estate in the Western and Central United States. The company specializes in acquiring middle-market value-add industrial assets, developing large-scale institutional-quality Class A industrial warehouse facilities in key locations, and providing third-party asset management services for institutional investors. The firm is actively acquiring land for development and middle market value-add assets across the Western and Central U.S. Since inception, its total investment and development pipeline exceeds 33 million square feet of industrial real estate. Follow the company on Facebook, LinkedIn, X and Instagram.
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