The Parr Reno industrial portfolio includes three large distribution buildings, as well three smaller individual buildings, ranging in size from 14,645 sf to 210,600 sf. All six properties are located for distribution services to the entire Western United States -- just north of Downtown Reno and the intersection of Interstate 80 and Highway 3395.

Seagate principal Wick Polite tells GlobeSt.com the company plans to make building and site improvements while implementing a dual leasing and individual building sales program. One of the smaller buildings already has been sold to an owner-user, says Polite, adding that another of the smaller buildings is under contract by an investor and the third is vacant. Of the three larger buildings, one is fully leased and will be going back on the market, while the other two need some leasing activity before they are put back on the market.

"We believe the location, current condition and fundamental building configuration of these six individual properties, combined with the current market conditions in Reno, represent a unique opportunity to create substantial value," adds Polite. "It will take two or three years to complete the process, maybe less."