WG Group and Krausz Companies Make Second Acquisition of 18.7 Acres in Tahoe Reno Industrial Center

BISWIRE / MAY 31, 2023 — WG Group and the Krausz Companies, LLC two Las Vegas-based real estate development groups have joined forces again, this time to focus on their second acquisition in the Tahoe Reno Industrial Center (TRIC).

Plans call for the speculative development of a 335,000-square-foot state-of-the-art industrial/distribution facility on 18.7 acres located at 1050 Waltham Way in McCarran, NV.

TRIC is a premier industrial park with over 8 million square feet already developed, located just minutes from downtown Reno. More than 200 tenants call TRIC home, including Tesla Motors, Google, Switch, Walmart eCommerce Fulfillment Center, as well as many smaller start up companies.  TRIC boasts an impressive 1% vacancy rate in its completed industrial buildings, and over 50% of the speculative developments underway in TRIC are preleased. 

TRIC is located in an Opportunity Zone, and the developers intend to use Qualified Opportunity Zone funds of their own along with the possibility of raising outside limited partner Qualified Opportunity Zone capital.

The developers plan to break ground by the fourth quarter of 2023.

According to WG’s Benjy Garfinkle, “This acquisition is a great opportunity for us to expand our presence in TRIC as well as maximize our returns through the use of qualified opportunity zone funds. We are excited to be able to bring this new development to the Tahoe Reno Industrial Center and look forward to continuing our success in this area." 

The development group purchased the 18.7-acre site for $7.13 million or $8.75 per square foot.  Upon completion, the project will cost approximately $44 million dollars.

For further information about the project or opportunity zone investment options email;

Andrew Dunn of WG Group via email andrew@wggroupllc.com; or

Katie Pyle-Thibault of The Krausz Companies, LLC via email katie@krauszco.com

For leasing information contact CBRE;

Greg Shutt: greg.shutt@cbre.com

Eric D. Bennett: eric.bennett@cbre.com