635 Denmark Dr, Sparks, NV

This 19,200 square foot industrial property is located within the Tahoe Reno Industrial Center, the largest of its kind in the United States, spanning 107,000 acres. The location is approximately 20 miles from Reno, Nevada, placing it within the Reno/Sparks Metropolitan area, which has a population of nearly 500,000 and a workforce exceeding 250,000. The property is situated just east of USA Parkway, providing easy access to Interstate 80 and the Union Pacific Intercontinental Rail Line, which is a 5-minute drive to the north. Interstate 80 spans 2,900 miles from San Francisco, CA, to New York City. The Industrial Center is equipped with 5 power plants on site producing more than 900 megawatts. A new 10-year absolute net lease will commence in approximately June of 2022, with no landlord responsibilities. The lease includes 2% annual rent increases throughout the first 5 years of the main term and 3% annual increases throughout the last 5 years of the main term, as well as 3% annual increases included in the two, 10-year options to extend. Commercial Metals Company (CMC) guarantees the lease. CMC is the United States’ largest manufacturer of steel reinforcing bar and is a global leader in concrete reinforcement. CMC reports Q2 FY22 earnings of $188M and Core EBITDA of $323M. Earnings are up 373% from the same time as the previous year. Annual Revenue stands at approximately $5.476 billion. CMC’s market Cap is $2.6 trillion as of December 31, 2021.