Reno, NV, 7/19/2016
- Colliers International announced today that the company has been chosen to market the subleasing of the Kmart Distribution Center located at 1402 South McCarran Boulevard in Sparks, NV. The 1,556,706 square foot distribution center was formerly occupied by Sears Holdings Corporation before becoming vacant. Chris Fairchild, CCIM
and Greg Shutt, SIOR
, both Vice Presidents of Industrial Services at Colliers, will be exclusively listing the property.
Originally built by McKenzie Properties in 1970 for Kmart, the building is currently the second largest in the Northern Nevada area after its expansion in 1973. Situated on 54.19 acres, Sears Holdings controls the property with six, five-year options to lease the asset. Colliers Reno is listing the building with a lease rate of $0.15/sf/month modified gross for a full building user.
"The Kmart Distribution Center provides an industrial user a unique opportunity to cut their facility overhead by almost 65%," commented Fairchild. "Those kinds of savings on this size of a building should turn user's heads at a regional level."
Centrally located in Sparks, the property draws from all labor pools within the Metropolitan Statistical Area (MSA) and offers a convenient commute for employees due to its location along the public transportation line. Its location on South McCarran, less than a mile off Interstate 80, will be advantageous for many users. With its proximity to California and one-day drive time to five western states, coupled with Nevada's tax incentives and a low lease rate, the building should get attention from distribution, manufacturing, and storage users with West Coast requirements.
"The listing of the Kmart Distribution Center is an amazing accomplishment that demonstrates the exemplary talents of the industrial team at Colliers," said Melissa Molyneaux
, a Senior Vice President and Executive Managing Director with Colliers. "Having one of the largest listings in the state is just another testament to our broker's unparalleled work ethic and dedication to the client."
About Colliers International Group Inc.
Colliers International Group Inc.
(NASDAQ: CIGI; TSX: CIG) is an industry leading global real estate services company with more than 16,000 skilled professionals operating in 66 countries
. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals'
Global Outsourcing 100 for 10 consecutive years, more than any other real estate services firm.
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For further information, please contact:
- Marketing Coordinator, Brokerage
100 West Liberty Street, Suite 740
Reno, NV 89501
+1 775 823 6628