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Dermody Properties Completes First Building at LogistiCenterSM at I-80 near Nevada-California Border

Dermody Properties, a national real estate investment, development and management company specializing in acquisitions and development of industrial real estate in strategic locations across the United States, today marked the completion of the first building in Phase 1 of its LogistiCenter^SM at I-80 project which is located in northern Nevada, immediately adjacent to California. The 223,619 SF building was 100 percent leased before construction was complete.

The business park is located just four miles from the California border in western Reno, with immediate access to Interstate 80. Because of its transportation-advantaged location, LogistiCenter^SM at I-80 is ideally suited for warehouse, distribution and e-commerce companies that need to quickly reach consumers in the western United States. In addition, LogistiCenter^SM at I-80, Phase 1, Building 1 features 32-foot clear height, 146 car stalls, 46 dock doors, four drive-in doors and a 60-foot loading bay. These features make the building e-commerce ready.

“This location puts our clients even closer to their California customers,” said Michael C. Dermody, Chairman and Chief Executive Officer, Dermody Properties. “In today’s world speed of delivery is the key and LogistiCenter^SM at I-80 provides that advantage.”

Plans to develop additional phases of the 803,022 SF industrial park are also under way; Building 2 in Phase 1 is currently under construction and will provide 182,000 SF of space and is expected to be completed in September. Phase 2 will follow with 1 or 2 buildings totaling 400,000 SF.  Build-to-suit opportunities are available. “This site is in a strategic, highly desirable location,” said George Condon, Partner, Dermody Properties West Region Office. “We are pleased that the LogistiCenter^SM at I-80 development is part of the ‘New Nevada’ as it continues to be the economic hub of the west.”

Future buildings of LogistiCenter^SM at I-80 are being marketed for lease by Eric Bennett, Vice President and Gordon Zach, SIOR, First Vice President, both with CBRE of Reno, Nev.