An unnamed cloud company has acquired a plot of land outside Reno, Nevada, for a potential data center development.
Real estate investment firm Mark IV Capital this week announced the sale of 300 acres within its Victory Logistics District to an unnamed technology company.
The buyer is described as a “global leader in enterprise software, cloud computing, artificial intelligence, and state-of-the-art hyperscale data center campuses.”
Further details regarding any planned development on the land haven’t been shared.
“We are thrilled to welcome this world-class technology company to Victory Logistics District,” said Evan Slavik, president and CEO of Mark IV Capital. “This transaction is a testament to Victory’s unique combination of scalability, infrastructure, and strategic location."
He continued: "We see this as a major step toward many data center developments at Victory, and we look forward to continuing to attract industry-leading enterprises that will drive economic growth to the region.”
Located some 30 miles east of Reno in Fernley, Lyon County, the Victory Logistics District is a 4,300-acre master-planned industrial and logistics hub. Mark IV acquired the site in 2019, completing the first buildings in 2023.
To date, the development comprises close to 2 million sq ft of warehouse and distribution space. The company recently broke ground on the next phase of development, set to comprise another 600 acres, which will be made pad-ready.
Founded in 1974, California-based Mark IV Capital is a privately held real estate investment and venture capital firm. Its investments include industrial, multifamily, retail, office, entertainment, and hotel properties. On its website, the company said it has developed some 2.5 million sq ft (232,257 sqm) in the past five years, with another 12 million sq ft (1.1m sqm) to be developed in the next five, with a landbank totaling some 5,000 acres.
The likes of Vantage, PowerHouse, Google, Apple, EdgeCore, Novva, Oppidan, Colovore, and Tract are developing around Reno, largely in Storey County. Switch, DataBank, Microsoft, and DeepEdge are also present in the state.
