AEW Capital Management has acquired the South Reno Industrial Portfolio, a three-building industrial campus in Reno totaling approximately 392,000 square feet. The seller group consisted of WHI and McKenzie Properties. The transaction was completed at a reported sale price of $83.2 million for the fully built-out campus.
The portfolio is located on 20 acres and is composed of three concrete tilt-up warehouse and industrial buildings along Old Virginia Road. Building A, located at 12910 Old Virginia Road, totals 126,000 square feet. Building B, at 12920 Old Virginia Road, totals 124,000 square feet. Building C, at 12930 Old Virginia Road, is the largest of the three, with 141,000 square feet. Together, the assets form a contiguous industrial campus within the South Reno area.
The buildings are described as offering flexible demising options, allowing space to be configured for multiple tenants or larger single users. At the time of sale, the South Reno Industrial Portfolio was reported to be 92% leased, indicating a largely stabilized rent roll across the three assets. No additional details on tenant mix, lease terms, or remaining vacancy were disclosed.
The campus benefits from immediate access to Interstate 580, providing north-south connectivity through the region. It is also situated approximately 15 minutes from Reno-Tahoe International Airport, positioning the portfolio for regional distribution, logistics, and other industrial uses that require convenient highway and air-cargo access. The specific nature of the tenancy and any planned capital improvements by the buyer were not detailed.
Cushman & Wakefield’s Industrial Advisory Team advised on the disposition and acquisition. The team included Will Strong, Michael Matchett, Molly Miller, Jack Stamets, Madeline Warren, Jeff Chiate, Rick Ellison, Matthew Leuopold and Aubrie Monahan. They partnered with Cushman & Wakefield professionals Mike Nevis and Shawn Jaenson to represent the sellers and procure the buyer in the transaction. The firms’ roles encompassed marketing the portfolio and coordinating negotiations between the selling entities and AEW Capital Management.
The transaction underscores continued investor interest in institutional-scale industrial assets in the Reno market. However, the parties did not disclose cap rate, financing terms, or other detailed financial metrics associated with the sale.
