Argosy Real Estate Partners has joined WG Group and the Krausz Companies in a Qualified Opportunity Zone industrial development at 1050 Waltham Way within the Tahoe Reno Industrial Center in Sparks, Nevada. The partnership has closed on approximately 19 acres at the site and is proceeding with a 334,800-square-foot Class-A industrial warehouse and distribution facility — one of the larger speculative industrial projects to advance at TRIC using structured opportunity zone capital. The project's location within a designated QOZ enables investors to defer and potentially reduce capital gains tax obligations, a structure that WG Group and Krausz have employed to access a wider range of institutional equity for the development.
The planned facility will deliver 36-foot clear heights, tilt-wall construction with a panelized wood roof structure, 54 dock doors, four drive-in doors, and a 130-foot truck court. The building is designed to accommodate one to two users across its nearly 335,000-square-foot footprint, targeting logistics, distribution, and advanced manufacturing tenants that require large-format, well-specified industrial space in the western United States. TRIC's position within 5 minutes of I-80 and 15 minutes of Reno International Airport provides the regional connectivity that distribution-focused tenants demand, and the park's roster of existing occupants — including Tesla, Google, Apple, Walmart, Switch, and Home Depot — reflects the caliber of demand the submarket has attracted.
TRIC has grown to encompass more than 30 million square feet of space across 210-plus tenants, with a vacancy rate among completed buildings that has historically tracked near 1 percent. WG Group, founded by Benjy Garfinkle and with more than 300 real estate transactions completed nationally, and the Krausz Companies, which has developed and redeveloped over $1 billion in commercial properties, bring an established operating track record to the joint venture. The Argosy investment validates the institutional case for the 1050 Waltham Way site as one of TRIC's prime undeveloped parcels.