Dermody Properties Leases 40,750 SF in Reno to Power-Sonic
We recently leased 40,750 square feet in Building 4 of LogistiCenter℠ at I-80 in Reno to Power-Sonic.
A global leader in design, marketing, distribution and application support of high-quality energy storage solutions, Power-Sonic Corporation’s products are used in a variety of industrial and electronic applications serving end markets including life safety, medical, utilities and infrastructure, Powersports and industrial automation.
Power-Sonic Holdings has a workforce of more than 1,000 with major operations in the United States, United Kingdom, France, Mexico and the Netherlands. Their new presence at LogistiCenter℠ at I-80 marks the company’s first operations center in Nevada to support all western US, Mexico, South American and Canadian customers.
Reno will be the new Power-Sonic Holdings corporate headquarters and western distribution center to support growth initiatives and provide improved customer response times and flexibility for shipping points to international customers.
LogistiCenter℠ at I-80 is a master-planned industrial park near the California-Nevada border with four buildings totaling more than 803,322 square feet. Buildings 1, 2 and 4 are fully leased, and Building 3 currently has 104,000 square feet still available.
“We chose this location for its proximity to the Nevada/California state line and Interstate 80, which allows companies to quickly access suppliers and customers in California,” said George Condon, West Region Partner for Dermody Properties. “Nevada’s business-friendly environment and exceptional tax benefits combine to make it an attractive and affordable location for companies of all sizes.”
LogistiCenter℠ at I-80 is within minutes of the three major shipping providers—UPS, FedEx and OnTrac. Bordering five states, northern Nevada is perfectly situated as the hub of the 11-state western region, with 53 million people within a one day drive. More than 65 local, regional and national carriers provide trucking services in the area, with shipments to 80 percent of the 11 western states occurring on a next-day basis.
“Our strategy throughout the country has been to build or acquire state-of-the-art facilities in highly desirable markets, and northern Nevada has always been one such market for us,” said Douglas A. Kiersey, Jr., President of Dermody Properties. “We welcome Power-Sonic to our outstanding list of customers. We believe they will truly benefit from their new Nevada home.”
Eric Bennett of CBRE represented both Dermody Properties and Power-Sonic in the leasing transaction.