Tranche 3
Dave Simonsen, Michael Hoeck, and Michael Nevis, commercial real estate brokers in Kidder Mathews’ Reno office, have been recognized at the 2016 Northern California SIOR Premier Broker Awards for two transactions.
The ITS Logistics deal in Sparks, was recognized as the Top Industrial Lease of the Year, small market. ITS Logistics, a third-party logistics company, signed the 11.5-year lease for 629,552 square feet in June 2016. It was the largest lease transaction in the greater Reno area during the first quarter of the year. The space, an infill property located at 555 Vista Boulevard, was a consolidation of five operations into one. Simonsen, Hoeck, and Nevis represented the landlord, Lake Washington Partners, in the deal.
The portfolio investment sale of Tranche 1, 2, and 3, also in Sparks, was recognized as the Top Industrial Sale of the Year, small market. It was completed in two transactions. Dalfen America, an industrial real estate investment manager, purchased Tranche 1, a five-building, 1,250,084 square foot portfolio for $55.3 million. Westcore Properties, a commercial real estate investment company, purchased Tranche 2 and 3, a 1,170,151 square foot, 12-building portfolio for $54.5 million. Simonsen, Hoeck, and Nevis represented the seller, Global Logistic Properties, in the transactions. Both Dalfen America and Westcore Properties retained Kidder Mathews as the listing brokerage and property manager for the portfolios.
The annual SIOR Premier Broker Awards recognizes brokers with the largest deals in four categories: industrial, office, flex, and land.
