FOR IMMEDIATE RELEASE
Contact: Tiffany East
Phone: 775 250 8092
Email: tiffany@tiffanyeastpr.com
RENO, Nev. – April 10, 2025 – NAI Alliance, a leading commercial real estate brokerage and property management company in Reno, has announced the successful sale of a ±181,600 square-foot industrial facility located at 1095 Spice Island Drive. The $27.85 million transaction represents the largest single-building industrial sale of the year in Northern Nevada, signaling strong investor confidence and market momentum heading into 2025.
The property, located in the heart of the Sparks industrial submarket, features eight warehouse units available for immediate leasing. Sold by a private trust and acquired by LBA Logistics, the facility offers an ideal opportunity for companies seeking modern industrial space in a prime Northern Nevada location.
“The sale and subsequent leasing of this property is a testament to the exceptional market knowledge and hard work of our team,” said Brian Armon, CCIM, SIOR, senior vice president and principal at NAI Alliance. “This transaction highlights the resilience and strength of the industrial market in Northern Nevada and our team’s ability to deliver results for both investors and tenants.”
LBA Logistics is a full-service real estate investment and management company with a diverse portfolio of office properties. LBA is a national vertically integrated real estate company focused on the ownership and operation of industrial buildings.
“LBA Logistics recognized the long-term investment value of this property, and their vision for a turn-key asset created a highly attractive opportunity in one of the region’s fastest-growing industrial markets,” added Armon.
For more information regarding the property at Spice Island Drive or any questions relating to industrial real estate in Nevada, please contact Brian Armon at barmon@naialliance.com. Or visit us on LinkedIn.
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About NAI Alliance
NAI Alliance, established in 2005, is a full-service commercial real estate company specializing in sales and leasing brokerage and property and facilities management in Northern Nevada. As a member of the NAI Global network, NAI Alliance is also connected to the largest network of independent commercial real estate firms worldwide. Learn more at naialliance.com.
About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 300 offices strategically located throughout North America, Latin America, Europe, Africa, and Asia Pacific, with over 5,100 local market professionals, managing more than 1.1 billion square feet of property and facilities. Annually, NAI Global completes more than $20 billion in commercial real estate transactions throughout the world.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. To learn more, visit www.naiglobal.com.
