Newmark Completes Sale and Financing of Four-Building Shallow Bay Industrial Portfolio Near Reno, Nevada

February 2, 2026 9:00 AM

Newmark announces the Company has arranged the sale and financing of Greg Center, a 514,900-square-foot, four-building, shallow bay industrial portfolio in Sparks, Nevada located just outside of Reno.

Newmark Executive Managing Director Dave Simonsen, in collaboration with Executive Vice Chairman and President, Western Region Capital Markets Steven Golubchik, Executive Vice Chairman Ramsey Daya, Vice Chairman Edmund Najera, Executive Managing Director Chris Moritz and Managing Director Darren Hollak represented the undisclosed seller and buyer in the transaction.

“Greg Center benefitted from robust interest from both institutional and family office investors,” said Golubchik. “Investor interest remains strong for shallow and mid-bay multi-tenant industrial product as these assets are outperforming the overall market.”

Located at 150 and 50 East Greg Street and 955 and 995 South McCarran Boulevard, the portfolio has had an occupancy of 95% over the last five years with more than 25 tenants, offering diversified in-place cash flow. The buildings feature suites ranging from 5,000 to 70,000 square feet, with an average size of 16,000 square feet, attracting tenant requirements in all size ranges. The portfolio is located in a prime infill location in Sparks, allowing for quick access to Interstate 80, the Reno-Tahoe Airport and the Union Pacific Intermodal Railway Hub.

The average size of industrial leases signed in the U.S. has steadily declined since peaking around 2022, according to Newmark Research, reflecting a shift in tenant demand toward shallow bay spaces, which are smaller-format and often multi-tenant light industrial properties. The Reno market has experienced strong rent growth over much of the past decade, supported by persistently low levels of new construction, which has constrained supply and allowed robust demand to drive higher rents.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2025, Newmark generated revenues of over $3.1 billion. As of September 30, 2025, Newmark and its business partners together operated from approximately 170 offices with over 8,500 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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