588,560-SF Industrial Building Leased to Amazon.com Sells for $22.8M

RENO, NV-Panattoni Development Company of Sacramento has sold an Amazon.com-leased 588,560-sf warehouse/distribution facility in Nevada for $22.8 million.

The high-cube fulfillment center is located on a 35-acre site at the Nevada Pacific Industrial Park in Fernley, NV, which is 30 miles east of the Reno-Sparks metropolitan area and considered the transportation hub of Northern Nevada. When Panattoni acquired the property in 1996, it housed a 322,560-sf building. It expanded the concrete tilt-up to its current size and leased the whole thing to Amazon in 1999.

Since Amazon moved into the facility in 1999, the company has invested in state-of-the-art inventory management, sorting, routing, packaging and distribution equipment including a highly advanced conveyor system. Amazon also constructed a mezzanine level of approximately 140,000 sf. The Fernley facility is one of four fulfillment centers nationwide used to process and ship orders received on its websites.