We are pleased to announce that Argosy Real Estate Partners, in partnership with The Krausz Companies and WG Group, has closed on the acquisition of an approximately 19-acre site for the development of Waltham Industrial, a 334,800 sf, Class-A industrial building located in a Qualified Opportunity Zone in the Tahoe Reno Industrial Center (TRIC) in the Reno, Nevada MSA.

Upon completion, the project will be comprised of a 334,800 sf warehouse / distribution facility featuring 36′ clear heights, tilt walls with a panelized wood roof structure, 54 dock doors, four drive-in doors, and 130’ truck court. The business plan is to deliver flexible space that can accommodate either a single- or multi-tenant lease up strategy targeting tenants in the logistics, distribution, and manufacturing spaces. Reno has become a prime distribution location for companies looking for a single point of access to all West Coast, Mountain West, Southwest, Western Canada, and Mexico markets within a two-day drive. The project is located within five minutes of I-80, within 15 minutes of Reno International Airport, and is well-positioned within TRIC, which has proven to be one of the most in-demand industrial submarkets in the country, having attracted tenants such as Tesla (Gigafactory 1), Google, Apple, Walmart, Switch, and Home Depot. TRIC has quickly become a data center, electrical vehicle, lithium battery, and logistical hub with over 210 tenants, 25,000 plus daily workers, and 30 million sf of industrial space.

Argosy’s co-investor and development partner is a partnership between The Krausz Companies and WG Group, two Las Vegas, Nevada-based firms. The Krausz Companies, led by CEO Ron Krausz, has developed, or redeveloped more than $1 billion of commercial properties across the United States. WG Group, founded by Benjy Garfinkle in 1978, has national experience in the development, redevelopment, and operations of industrial and other commercial assets across the U.S. via more than 300 real estate transactions. Waltham Industrial represents Argosy’s first investment with The Krausz Companies and WG Group. The Krausz Companies and WG Group have completed ten projects together since 2013. The Krausz / WG Group partnership has completed several transactions in both TRIC and the broader Reno area.