Panattoni Development Company, a privately held commercial real estate firm specializing in industrial, office and build-to-suit projects, has sold a 169,027-square-foot industrial building in Reno, Nev. Located at 400 East Parr Boulevard, the northern Nevada facility was acquired by an undisclosed owner/occupant in the kitchen and bath appliance industry for $20.5 million.
Sears Outlet Stores previously tenanted the property.
Cushman & Wakefield represented the seller in the transaction. They were joined by the firm’s National Industrial Advisory Group – Mountain West, along with the IAG – West team.
400 East Parr Boulevard is situated on approximately 6.72 acres and was originally built in 1972 but completed renovations in 2016. The property features 25-foot clear heights, 18 dock doors, one grade door, ESFR sprinklers and skylights.
