Clarion Partners Expands Industrial Footprint with MEI Industrial Solutions Lease in Reno
TL;DR
Clarion Partners secures MEI Industrial Solutions as a tenant at 500 Denmark Drive, enhancing its portfolio in the high-demand Tahoe Reno Industrial Center.
MEI Industrial Solutions leases 161,200 sq. ft. at 500 Denmark Drive, part of a 1 million sq. ft. development in the TRIC, expanding its operational footprint.
MEI's new facility in Northern Nevada boosts service capacity and supports local data center and manufacturing sectors, contributing to regional economic growth.
Clarion Partners' strategic acquisition in Sparks, NV, marks its entry into a Qualified Opportunity Zone, showcasing its commitment to impactful real estate investments.
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Clarion Partners, LLC, a prominent real estate investment manager, has secured MEI Industrial Solutions as a tenant for 161,200 square feet at 500 Denmark Drive within the Tahoe Reno Industrial Center (TRIC). This lease represents approximately half of the newly constructed 322,000-square-foot Class A building, underscoring the growing demand for industrial space in Northern Nevada. MEI Industrial Solutions, a national leader in rigging, machinery moving, and related services, will utilize the facility to expand its operational footprint and service capacity, including secured indoor and outdoor storage space.
The Tahoe Reno Industrial Center, recognized as one of the largest industrial parks globally, offers strategic advantages due to its proximity to major transportation routes and a concentration of data centers and manufacturing customers. Jason Glasser, Managing Director at Clarion Partners, highlighted Reno's appeal as a high-growth submarket that provides industrial users like MEI with a compelling value proposition. This lease not only bolsters MEI's nationwide network of over 50 facilities across 24 states but also reinforces Clarion's commitment to expanding its industrial real estate portfolio in key markets.
Clarion Partners' acquisition of 500 Denmark Drive in July 2024 expanded its Reno-area industrial footprint to over 1.7 million square feet, marking its first entry into Sparks, NV, a vibrant submarket and Federally designated Qualified Opportunity Zone. With a portfolio of 170 properties in QOZs and an additional 560 in adjacent submarkets, Clarion continues to leverage its expertise in industrial real estate to meet the evolving needs of tenants like MEI Industrial Solutions. This development reflects the broader trend of industrial growth in regions offering logistical advantages and access to key industries.
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