Las Vegas Developer Finds Success in Northern Nevada, with Multi-Million Dollar Expansion Projects

Online pet food and product retailer Chewy, located at the Reno Logistics Center

Award- winning Las Vegas-based company Acres Advisory Group has gained success by expanding its development services from Southern Nevada to Northern Nevada.

The AAG team understands what makes a specific property valuable for logistics users and how the timing of deals is critical to success. ”
— Geoff Griffin, West Region Partner at NorthPoint Development
LAS VEGAS, NEVADA, UNITED STATES, May 21, 2023/EINPresswire.com/ -- Las Vegas-based company Acres Advisory Group (Acres) has gained success by expanding its development services from Southern Nevada to the Northern Nevada area. Based on the combined square footage of projects, Acres has increased its footprint as one of the quickest-moving commercial development groups in the state.

With an already highly successful multimillion-dollar portfolio and over forty combined years of experience in Southern Nevada, Acres Advisory Group owner Scott Gaughan and Marcia Giordano, Director of Operations, recognized the industrial demand and saw the potential in the North Valley.

Acres initially acquired the 75-acre home of the Reno Logistics Center in August 2020. They then collaborated with NorthPoint Development to build the area's most prominent industrial site, the Reno Logistics Center. Just recently, the Reno Logistics Center was named the CoStar Impact Award winner for commercial development of the year by a panel of outside judges who are professionals in their field and familiar with the area. The sizable North Valley site, with a building span of over 795,000 square feet, had become the most viable in the City of Reno. Shortly starting construction, the online pet food and product retailer Chewy, headquartered in Boston and Plantation, Florida, confirmed a pre-lease deal with the center for thirteen years. Chewy's commitment has significantly added jobs and boosted employment in the surrounding suburbs in Reno's North Valley area. The new property location gives the company a competitive advantage with a focus on supporting distribution and the significance of the property's location at 8001 N. Virginia St., in Reno, Nevada, Chewy can now serve an entire region daily by truck.

Ranked as the #1 Industrial Developer in the U.S. since 2017 by Real Capital Analytics. NorthPoint Development is a Kansas City-based commercial real estate operating company committed to supporting the communities where they develop, lease, and manage Class A industrial space and multi-family communities. Acres are one of the first groups to collaborate in the state with NorthPoint to bring projects of this magnitude to the Northern and Southern Nevada Communities.

"We are honored to be one of the first partners to collaborate with NorthPoint, whose nationally ranked team acts as an extension of our own, working together to design and build out some of the most significant development properties in the state." – Scott Gaughan, founder, and president of Acres Advisory Group.

In 2021 Acres Advisory Group headed back south and secured the North Vegas Logistic Center (APEX) development site. In the fall of 2022, Acres confirmed its second joint venture with NorthPoint development for over 2M sq ft of what will be considered the most significant industrial site in North Las Vegas. Following Reno's success, the North Vegas Logistic Center has already secured a pre-lease for half of the site to Hey Dude, a subsidiary of another well-known giant, CROCS.

The nearly $300 million joint venture investment into North Vegas Logistics Center by NorthPoint Development and business partner Acres Advisory Group (AAG) is estimated to create hundreds of construction jobs and generate millions in permanent wages for the local community.

"The Acres Advisory Group has been a tremendous partner in multiple projects for our firm. They have been instrumental in assisting NorthPoint with some strategic acquisitions because of their team's experience and organizational structure. The AAG team understands what makes a specific property valuable for logistics users and how the timing of deals is critical to success. We look forward to future partnerships with Scott and the entire AAG team," said Geoff Griffin, West Region Partner at NorthPoint Development.

For more information visit https://www.acresadvisorygroup.com/, or email Info@acresadvisorygroup.com

About Acres Advisory Group
Acres Advisory Group's core value lies in its personable approach and commitment to building relationships. Our team specializes in unique land assemblage, acquisitions, and industrial commercial property development. With nearly 50 years of combined team experience in Commercial Real Estate, Acres Advisory Group has developed longstanding connections within the surrounding community of each market we enter.

Courtney Meredith
Design on Edge
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