Industrial Realty Group buys Fernley Rail Park
Industrial Realty Group, LLC, one of the largest industrial real estate developers in the nation, recently purchased a 224-acre site strategically located just east of Fernley, Nevada. The property is situated in both Lyon and Churchill counties.
The planned “Western Nevada Commerce Center” is located at 11000 Reno Highway and sits along U.S. Highway 50. It has excellent proximity to the Interstate 80 interchange and is just 30 minutes from Reno. The master plan features development land for build-to-suit opportunities and outside storage/yard space, 24/7 rail transloading, and an existing switch with rail infrastructure. Also in place are necessary utilities and favorable zoning.
The site has the rare distinction of being dual served by two Class 1 freight railroads: Union Pacific Railroad (UPRR) and BNSF Railway (BNSF). Because Reno-Sparks and the Sierra Region are both bisected by key rail and interstate highways, it has a federal “port of entry” designation.
The project’s unparalleled rail connectivity includes an east-to-west Class 1 freight rail mainline with existing direct spurs, and direct and dual-service from Class 1 railroad mainlines (UPRR and BNSF). Approximately 5,000 linear feet of track is already in place, with plans for expansion.
IRG also owns other rail operation sites within its 100 million square foot portfolio, including: MidPoint Logistics Center in Somerville, New Jersey and McClellan Business Park in Sacramento, California. Together, the sites provide coast-to-coast rail connectivity.
“IRG is thrilled to oversee this exciting, new venture in the dynamic city of Fernley,” Justin Lichter, Vice President of IRG, said. “Western Nevada Commerce Center will fulfill a unique need in the market. With no comparable sites in the vicinity, we can attract tenants to the region with access to nearly all major markets on the west coast and the expertise to tailor the site for specific rail and offloading requirements, as well as other manufacturing and industrial uses.”
“Northern Nevada’s logistics industry is quickly expanding to meet the multimodal shipping and distribution needs of customers in the Silver State and nationwide,” NNDA President & CEO Rob Hooper said. “NNDA has been working for several years to find a good match for this site, and we are excited to welcome IRG to the Sierra Region. The firm’s plans for Western Nevada Commerce Center will greatly enhance rail logistics.”
Trains are the most efficient and environmentally friendly way of transporting freight over land, moving a ton of cargo about 479 miles on a single gallon of fuel, according to the Association of American Railroads (AAR.org). GoRail.org reports that more than one-third of U.S. exports travel via the U.S. freight rail network of nearly 140,000 miles. Private rail companies pay their own way with little help from taxpayers. On average, railroads reinvest 40 percent of every dollar they earn back into their infrastructure.
“IRG’s team has shown the ability to transform ideas into successful projects throughout the country,” said Bruce Breslow of Churchill Fallon Economic Development. “We’ve enjoyed meeting Justin and are working to facilitate any entitlements they may need here in Churchill County. Rail, in and around the Hazen area, offers new companies great opportunity to thrive here in Northern Nevada.”