Mohr Capital and the Phenomenal Growth of the Northern Nevada Industrial Market
“Reno is exploding from an industrial standpoint,” said Tom Theobald, senior vice president of development for Mohr Capital. “The growth in the market is just phenomenal.” According to Theobald, the company is bullish on Northern Nevada due in part to its proximity to western-region markets and a favorable business climate that continues to draw in new businesses.
Current Developments and Industrial Expansion
Privately owned Mohr Capital, headquartered at Dallas, recently completed work on a 596,400-square-foot Class A industrial facility on 46 acres at Tahoe Reno Industrial Center. Not only was the building fully leased to Omni Cable and JT Logistics before it was completed, but it was sold while under construction as well. Regarding the regional advantages, Theobald noted that “From Reno you can reach 60 million of the U.S. population within a day’s drive,” which is one of the things that’s driving the industrial growth – particularly distribution growth – in the Reno market.
Future Projects and Strategic Locations
Looking ahead, Mohr Capital plans to begin additional projects in North Valleys and Fernley in the first quarter of 2023. The North Valleys project is located on 14 acres off North Virginia Street near Stead Boulevard, where the company plans to build a 179,000-square foot distribution/light industrial building. Furthermore, the 27-acre site in Fernley is located at 1000 Pilot Road and is scheduled to be a 447,000 square-foot cross dock distribution building.
Market Conditions and Speculative Development
Rising interest rates, increased borrowing costs, and the threat of a national recession did little to slow Mohr Capital’s first speculative industrial building in Northern Nevada. Theobald said that rising interest rates and increased borrowing costs haven’t affected Mohr Capital due to its existing relationships with capital partners. However, he admitted that “The biggest challenge the development community has is finding affordable construction debt,” as the construction lending environment has changed pretty dramatically. Despite these challenges, the incredibly low sub-1 percent vacancy rate in new Class A industrial buildings supports a speculative development strategy.
Spotlight on JT Logistics: A Growing Supply Chain Leader
JT Logistics is a transportation and supply chain leader in the third-party logistics industry, serving clients around the world. With locations from coast-to-coast, JT provides state-of-the-art warehouse, transportation, and fulfillment services to worldwide clients. The company was recently named one of the fast-growing businesses in the country as an Inc. 5000 Company and shows no signs of slowing down.
Key Company Milestones
| Year | Achievement |
|---|---|
| 2018 | Warehousing Services exceeds one million square feet! The company also expands into Transportation Services. |
| 2021 | Warehousing Services exceeds two million square feet! |
| 2022 | Warehousing Services quickly exceeds 3 million square feet. |
| 2024 | Opened 5 new locations in Iowa, Oklahoma and California. |
Operational Excellence and Values
JT Logistics continuously strives to provide the best possible service, supporting clients’ growth through their own. Their core objectives include:
- Deliver a positive experience for our clients.
- Provide a safe, secure work environment for all associates.
- Offer exceptional value in the marketplace.
- Operate our business profitably and responsibly.
As the company expands to Washington, DC and Dallas, Texas, they continue to establish transparent relationships with associates, customers and partners.
