Storey County, Nev. (March 17, 2025) – Tolles has acquired 15.8 acres of unimproved real property at 500 Italy Drive at the Tahoe-Reno Industrial Center, further expanding its footprint in northern Nevada’s industrial market. Tolles remains a significant player in the industrial real estate market, having developed more than 4 million square feet of industrial space in the region. Tolles acquired the property for $5.5 million from AMB Real Estate, LLC.
Tolles plans to develop a new 290,000 square foot warehouse facility on the site, with a groundbreaking scheduled for the second quarter of 2025. Given the region’s increasing need for industrial infrastructure, the project will help support businesses looking for modern, well-located logistics and distribution space. Additionally, Tolles is exploring the potential for data center development on the site, further diversifying its approach in the commercial real estate space.
“Northern Nevada remains a high-demand market for industrial development, and this acquisition aligns with our commitment to bringing additional options to the region,” said Kyle Rea, chief operating officer of Tolles. “We’ve built significant expertise in executing projects like this and we’re excited to bring this new project to life to meet the ongoing needs of businesses here.”
Located in northern Nevada’s prime industrial corridor at the Tahoe-Reno Industrial Center, just off of I-80, this new property benefits from close access to key transportation routes, a strong workforce, and a growing business ecosystem. The forthcoming development will provide modern facilities to support businesses looking to expand or relocate in northern Nevada. Tectonics Design Group will serve as the architect on the project and Devcon Construction will be the General Contractor. Chase Houston with Logic Commercial Real Estate brokered the land sale.
Tolles continues to invest in strategic opportunities across the region, ensuring that new developments align with evolving industry needs and bolstering the regional economy.
For more information about Tolles and its developments, visit tollesdevelopment.com.
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About Tolles Development
Tolles develops, owns, and manages industrial, office, retail, and hospitality properties in the Western U.S. delivering thoughtful development that strengthens communities. Built on years of hard-won industry experience and a belief in Nevada’s prosperous future, Tolles understands what it takes to help business owners lay down the roots they’ll need to succeed – all the while honoring Nevada’s unique spirit. Learn more at https://www.tollesdevelopment.com/
