The Tahoe Reno Industrial Center (TRIC) could gain up to 9 million square feet of new Class A inventory. Several of the world’s leading technology companies have claimed their space at TRIC and the new space coming online has already caught their attention. The more than 600-acre site, named C3, was purchased by Comstock Tric Associates LLC in 2014.
Redwood Materials joined TRIC to construct its battery materials recycling facility on 100 acres and purchased another 73 acres to expand its recycling operations. The Carson-city based company has already leased the first 676,000 square foot building now under construction at the development. In addition to Redwood Materials, Google lies just to the south, Tesla to the northeast, and Blockchains’ land holdings surround the site.
Joel Grace, CEO of Locus Development Group, is at the helm on behalf of Comstock Tric Associate LLC to execute the development plan for C3. The past few years have been set on the civil engineering and site plans for the industrial buildings. The land presents unique topography and Locus has taken great care to ensure the grading will be effective and still meet the size demands of current users in the market.
Activity for industrial buildings in Northern Nevada is extreme and companies are looking up to 18 months out for space. Overall industrial vacancy in the region reached 1% in Q3, an increase from the previous two quarters. The market remains white hot, even amidst current industry and economic headwinds.
This newest development represents the strong economic growth that remains in Northern Nevada in the technology and manufacturing sectors.