CapRock Partners, a real estate developer, investor and asset manager based in Newport Beach, bought a fully-leased industrial building in Northern Nevada.
The Newport Beach company paid $14.9 million for 55 Vista Blvd., a 117,000-square-foot industrial building in Sparks, Nevada. It is CapRock’s third property in Northern Nevada, bringing the Orange County company’s Silver State investment and development pipeline to 5.37 million square feet of industrial space.
CapRock bought the warehouse from United Parcel Service (UPS), according to CoStar data.
“Reno’s industrial market is poised for continued growth, driven by strong demand for logistics and distribution services, expanding e-commerce, and ongoing investment in infrastructure,” Chad Ridenour, a senior associate with CapRock Partners, said in a statement.
The single-tenant warehouse at 55 Vista Blvd. was built in 1995 and sits on five acres. Keefe Group, a provider of clothing, electronics, food, personal care items and technology for prisons and jails across the country, is the building’s tenant.
55 Vista Blvd. features 24-foot clear height, 26 dock-high doors, two grade-level doors and a half-acre trailer parking yard.
Joel Fountain and Nick Knecht of Dickson Commercial Group and Jeff Huberman with Lee and Associates brokered the deal for 55 Vista Blvd.
CapRock has been in the Reno industrial market since 2024.
Sparks is a suburb of Reno, Nevada.
