Loyal Walmart customers in the Reno, Nevada, area will not have to worry about empty shelves for the foreseeable future.
The big-box retailer renewed its lease at Tahoe Reno Industrial Center, which is billed as the world's largest industrial park at 107,000 acres. The industrial center, known as TRIC, also houses distribution and fulfillment centers for pet supplies delivery service Chewy, FedEx, Google, Tesla and 1-800 Flowers.com. The industrial center is in McCarran, Nevada, which is 9 miles east of Reno.
TRIC also has smaller tenants, including the American Red Cross, the Food Bank of Northern Nevada, Panasonic and sandwich shop chain Subway.
Walmart's lease renewal not only helps the retailer keep its store shelves filled at its various Nevada locations but also keeps local industrial workers employed. The renewal has earned a 2025 CoStar Impact Award for lease of the year in Reno.
Walmart has 43 stores in Nevada, most of which (25) are in Las Vegas or North Las Vegas. There are five locations in Reno.
The company has other fulfillment centers in Indiana, Pennsylvania and Texas, with plans to open another center next year just outside of Sacramento.
About the deal: Walmart signed its first lease for the TRIC space in April 2016 and began operations there in December 2016. During its roughly eight-year lease, the retailer held a 672,000-square-foot footprint in the building. The lease eventually expired in May 2024 — the same month that Walmart renewed.
Walmart's Reno distribution center is tasked with supplying inventory to stores within a 120-mile radius.
Six months after renewing, Walmart expanded its footprint in the TRIC space and now occupies 1.3 million square feet. The building Walmart uses is owned by Conco Cos. Conco is building two more 650,000-square-foot facilities at TRIC, one of which is slated to finish in December.
What the judges said: "Continued expansion for a major worldwide retailer shows the demand for major companies to have a distribution presence in Tahoe Reno Industrial Center," said Ben Galles of CBRE.
They made it happen: Greg Shutt of CBRE represented the landlord, and David Cantwell of JLL represented the tenant.