PRESS RELEASE: Standard Real Estate and Mohr Capital to Develop Major Infill Industrial Project in Reno, NV
180,000-Square-Foot Industrial Project Represents First Development for Standard Real Estate’s Investment Vehicle in Partnership with Mohr Capital
Standard Real Estate Investments, LP (Standard), a national real estate investment and development firm with offices in Los Angeles and Washington, D.C., is making an equity investment via its investment vehicle, to develop a 180,000-square-foot industrial facility in partnership with Mohr Capital. Located at 9865 North Virginia St., on an 11-acre prime industrial parcel on the north side of Reno, NV, the site will be the future home to a state-of-the-art, multi-tenant industrial building. The site is shovel-ready with municipal infrastructure and Washoe County approvals.
“Reno’s burgeoning status as a strategic distribution node has spurred growth in the manufacturing, logistics, and data center space, and has led to a more diversified industrial base that will be beneficial to the success of this investment,” said Lindsay Louie of Standard. “The investment will be well positioned to accommodate Reno’s growing tenant demand in the sub -100K SF range. We are excited to partner with Mohr Capital on this investment - this partnership underscores our ability to source and tap into sought-after opportunities while bringing much-needed industrial projects to markets across the country.”
The site and the planned industrial development boast convenient access to Hwy 395 in the North Valleys submarket of Reno. The project will be developed by Mohr Capital and will include a single-story building with four 14-foot x 16-foot grade-level doors designed for logistics and distribution tenants and will include options to build office spaces on the end caps, as well as in-line. The building will feature a 32-foot clear height; 25 dock positions outfitted with 40,000-lb. levelers and seals; motion-sensing LED light fixtures; ESFR fire protection sprinkler system; 3,000 amp, 277/480 volt, 3-phase power, and 80/20 outside-air, roof-mounted, gas-fired make-up air units. The complex is expected to be complete in 3Q 2025. Greg Shutt of CBRE will manage leasing for the development.
“The North Valleys submarket is a very tight submarket in one of the best industrial markets in the country,” said Bob Mohr, Chairman of Mohr Capital. “For that reason, we are very excited to bring this project to fruition. This collaboration with Standard will create superior product in a market with low availability, excellent net absorption, and attractive asking rents. Mohr Capital owns land in the area and has successfully developed in Reno in the past.”
Recently, Standard invested in industrial projects including the Apopka Business Center in Orlando and a 17-acre parcel in the Village of Woodridge, IL, partnering with Trammel Crow Company on the development of those sites. In addition to these projects, Standard is targeting transactions with a preference for shovel-ready warehouse/logistics properties of approximately 150,000-500,000 SF in major logistics markets nationwide.
Standard is a national allocator of development capital, operated by a leadership team that previously invested in over $8 billion of assets. The company also has a direct operating platform focused on workforce housing nationwide.