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What Reno Has To Offer This OC Firm


IRVINE, CA—There is a bright future for industrial real estate in general...

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IRVINE, CA — There is a bright future for industrial real estate in general, but the Bendetti Co. likes Reno especially for its opportunity for NOI growth, Jared Christensen tells in this EXCLUSIVE interview.

IRVINE, CA — There is a bright future for industrial real estate in general, but the Bendetti Co. likes Reno especially for its opportunity for NOI growth, the firm’s managing director Jared Christensen tells The locally based firm recently completed two acquisitions in Sparks, NV, in the Reno submarket, bringing its investment portfolio to more than 2 million square feet of industrial property. The first acquisition was Southern Way, a three-building portfolio consisting of 631,115 square feet, and the second was Spice Island, a 165,000-square-foot building. We spoke exclusively with Christensen about what attracts the firm to Reno and how to gain an edge in the competitive industrial investment market. What does your company like about the Reno market for industrial properties?

Christensen: We feel there is a bright future for industrial real estate in general, but we especially like Reno since its recovery has trailed the primary markets, leaving more opportunity for NOI growth over the next several years. Reno is also strategically located for distribution and logistics, providing efficient transportation links to all major western states through trucking and rail. Because of its overall lower cost to do business and its strong workforce, it has attracted some major employers to the market including Tesla, Apple, Patagonia, Urban Outfitters, PetSmart and eBay, to name a few. As the Reno economy continues to rebound, we will see further tightening of vacancy rates and continued upward pressure on lease rates. We anticipate these favorable dynamics to continue for some time. What do you look for in the markets in which you are investing?

Christensen: We look for solid, infill markets with long-term stability and predictable growth patterns. These markets generally have a solid transportation infrastructure with very little developable land and are located within close proximity to major thoroughfares. We like markets that have an institutional presence, but may be on the periphery of institutions’ radar screens, which allows us to be more competitive. We are currently looking to expand our existing California and Nevada footprint into new primary and secondary markets west of Denver. How do you gain an edge on industrial property investing when the market is so tight and the competition so fierce?

Christensen: In the current market environment, it seems like several assets have been priced and trade with very little margin for error. Price is important to sellers, but so is demonstrating a buyer’s ability to close, in addition to performing a timely and thorough due diligence. Bendetti’s competitive edge is found in its ability to rely on a 50-year track record to quickly underwrite with reasonable assumptions and to create an actionable business plan for each asset we pursue. Further, it is bringing verified liquidity and surety of close during final interviews that has helped us. There is not an escrow we haven’t closed in the past 15 years, and sellers seem receptive to that track record. The investments we own and manage are equal to the investments we buy, and sellers like to see that. What else should our readers know about your company?

Christensen: Bendetti has a 50-year track record of developing, acquiring and managing industrial real estate. Over the years we have built strong relationships with key groups. Bendetti targets value add and core plus industrial investments located in infill markets. We are management intensive and excel in evaluating upside potential and implementing value-add strategies for our partners.

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Media Contact: Leslie Licano, Beyond Fifteen Communications, Inc. 949.733.8679,