Mark IV Capital, a privately held real estate company founded in 1974, has announced its acquisition of the Crossroads Commerce Center in Fernley, NV, with the help of Brett Edwards and Rex Massey of CBRE. The 4,300-acre property has been rebranded to Victory Logistics District. "The acquisition was completed in partnership with Heath Rushing of New Nevada Resources, and the project is anticipated to be the region's premier Class-A distribution, manufacturing and commercial center," said a spokesperson. Victory Logistics District is approximately 30 miles east of Reno and just 15 miles east of the Tahoe Reno Industrial Center, which has been virtually sold out to users. Its location is central among key markets in the western U.S. with direct access to two transcontinental highways (Interstate 80 and US Highway 50) and a dual-served rail line serviced by UPRR and BNSF, providing enhanced access with strategic logistical dynamics that will be attractive to industrial users. The entire project is within an Opportunity Zone, delivering tax incentives to both tenants and investors through deferrals and exemptions of capital gains taxes.
"Victory Logistics District is perfectly positioned to meet the needs of the quickly growing Northern Nevada industrial market. Its logistical advantages and the shortage of available land in the region's other submarkets make this the only option for users in need of top-quality distribution and manufacturing space of significant scale," said Evan M. Slavik, President of Real Estate with Mark IV Capital. "Victory Logistics District will greatly benefit Fernley through its creation of thousands of jobs, its ability to facilitate manufacturing and distribution throughout the western U.S., and attract new investment capital."
Mark IV Capital's CEO, Paul M. Cate, commented, "Our company is unique in our long-term approach where we seek to build and hold investments to perpetuity. We are truly a generational investor and thrive on long-term master-planned investments where we can effect change through thoughtful stewardship driven by over 45 years of consistent real estate investment history. Heath Rushing will no doubt add powerful synergy to our partnership with his substantial holdings and considerable experience in Northern Nevada markets. We are thrilled to be in Fernley and anticipate that Victory Logistics District will deliver robust and well-planned growth that will contribute to a thriving local economy with a larger employment base."
Development Plan
Victory Logistics District will be developed over a series of phases. The first phase will include approximately 7.5 million sq. ft. of industrial space and is expected to be built out within seven to 10 years. The first building to be constructed will be a speculative cross-dock distribution building of approximately 800,000 sq. ft. with 40' clear heights. It will be designed to the highest specifications by HPA Architects, based out of Irvine, CA. Mark IV Capital's master plan will include manufacturing, distribution and data center development. Their plan anticipates the integration of housing options, convenience/daily needs retail, quick service retail and other dining and entertainment choices. In addition, Mark IV Capital has partnered with Black Gold Terminals to construct a full service transload rail facility in the first phase of development, which will serve both new and existing rail customers in the project as well as customers throughout the region. Mark IV Capital's responsible approach to development will incorporate LEED certifications and best practices that focus on sustainability and environmentally sound development practices.
For more information contact:
Mark IV Capital
4450 Macarthur Blvd, Second Floor
Newport Beach, CA 92660
949-509-1444
www.MarkIV.com
New Nevada Resources
527 Lander Street
Reno, NV 89509
775-737-9508
www.newnr.com