Panattoni Development Co. has sold a 169,027-square-foot industrial facility in Reno, Nev., for $20.5 million.
An entity affiliated with ZLINE Kitchen and Bath, a local luxury kitchen and bath appliances supplier, picked up the asset, according to Washoe County public records. The buyer also secured a $14.4 million acquisition loan originated by Park National Bank, according to the same source.
Cushman & Wakefield’s Vice Chairman Mike Nevis and Executive Managing Director Shawn Jaenson worked on behalf of the seller. The company’s Executive Vice Chairmen Will Strong, Jeff Chiate and Rick Ellison, Directors Molly Hunt, Michael Matchett, Aubrie Monahan and Jack Stamets, together with Associates Madeline Warren and Matthew Leupold, were also involved in negotiations.
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Panattoni Development Co. purchased the facility in 2014 for approximately $4.4 million, according to CommercialEdge, marking an impressive difference when compared to the current transaction. The deal closed after Panattoni was involved in another industrial acquisition in the West. In April, the company sold a four-building industrial collection in Ontario, Calif., for $64 million. The properties encompass 243,394 square feet and were developed by Panattoni in 2006.
The property is at 400 E. Parr Blvd. on an approximately 7-acre lot. Situated close to interstates 80 and 580, the facility allows easy access through the Reno metro area and to Salt Lake City and Las Vegas markets. Downtown Reno is 4 miles away while Reno-Tahoe International Airport and Sparks, Nev., are both within a 6-mile radius.
Built in 1972 and upgraded in 2016, the industrial facility includes 25-foot clear heights, one grade-level doors, ESFR sprinklers and 18 dock-high doors. The single-tenant facility was formerly occupied by Sears Outlet Stores and will serve as ZLINE Kitchen and Bath’s next location.
Reno’s industrial market recent wins
Reno’s industrial vacancy rate dropped to 11.4 percent at the end of the first quarter of 2025, according to a recent Cushman & Wakefield report. The figure reflects a 40-basis-point improvement from the previous quarter. Additionally, the metro posted nearly 1.1 million square feet of positive absorption during the same period, signaling a solid recovery from early 2024.
The Reno industrial market also attracted notable investors. Clarion Partners made its entry in one of the metro’s most active submarkets. The company purchased a 322,400-square-foot asset in McCarran, Nev., for $41.7 million. During the same period, CapRock Partners also marked its first acquisition in Northern Nevada, by purchasing 3200 USA Parkway for $81.5 million. The 707,010-square-foot property in Sparks was sold by Manulife Investment Management.