Bendetti JV Lands $71M Refi for Reno Industrial Portfolio
The collection recently underwent renovations.
A joint venture between Bendetti and Singerman Real Estate has completed a $71 million off-market recapitalization of a three-building industrial portfolio in Sparks, Nev. Dubbed Southern Way Industrial, the collection spans 635,000 square feet.
Bendetti acquired the assets in 2016. In 2019, the company took out a permanent loan from Voya Financial that was set to mature later this year, according to Yardi Matrix information.
The facilities sit on a 21-acre site and feature clear heights ranging from 18 to 28 feet. The buildings were completed between 1974 and 1977, a Bendetti spokesperson told Commercial Property Executive, and are 54 percent occupied overall.
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The buildings are at 750 Greg St., and 1280 and 905–1485 Southern Way, close to the Reno-Tahoe International Airport and Interstate 80. Downtown Reno, Nev., is also within 5 miles.
The portfolio recently underwent extensive renovations, including new roofs, upgraded landscaping, refreshed exterior facades, a standardized tenant signage program, and new monument signage.
Picking up into the new year
As 2026 gets into full swing, the northern Nevada industrial space market is seeing more leasing activity, such that availability has decreased to 13.5 percent, after having risen across most of 2025, according to a first-quarter report from Colliers.
Gross absorption for the quarter hit 2.24 million square feet, against an inventory of 123.3 million. In addition, distribution space in the Sparks submarket has a total availability of 14.1 percent and saw year-to-date negative absorption of about 262,000 square feet.
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