Revitate has announced the expansion of its Opportunity Zones portfolio with a new investment into Victory Logistics District, an industrial development in Fernley.
California-based Revitate has expanded its Opportunity Zones portfolio with a new investment into Victory Logistics District, an industrial development in Fernley.
Located in a qualified Opportunity Zone, the 4,300-acre project will hold more than 25 million square feet of speculative and build-to-suit logistics, distribution, manufacturing, and data center space upon buildout, while delivering significant economic benefits to the region.
Revitate has invested from its Impact OZ Fund 2022, LP (Revitate Impact) to support the project led by development and investment firm Mark IV Capital.
Located at the intersection of Interstate 80, U.S. Highway 50 and the future Interstate 11, Victory Logistics District also will provide on-site access to the Union Pacific and BNSF rail line, which will be aided by a planned transload facility within the project.
The first phase of 815,000 square feet was completed in 2022, and the second phase is currently under construction, expected to be complete in October.
This second phase will consist of three, Class A industrial facilities totaling 1.2 million square feet. Future phases will offer build-to-suit developments and additional speculative space.
For information, visit www.revitate.co/strategies.
