Mark IV Capital announced it has broken ground on the second phase of master-planned construction at Victory Logistics District, a 4,300-acre industrial development in Fernley, Nev., owned by Mark IV.
The move marks a major milestone at the multi-phased project, which has nearly 2 million square feet of class A distribution space completed to date and is predicted to contribute significantly to the local economy once fully delivered, according to Evan Slavik, president and CEO at Mark IV Capital.
“Mark IV continues its long history of building in the path of progress by breaking ground on the second phase of the master plan infrastructure at Victory Logistics District,” said Slavik. “This development is set to eventually encompass tens of millions of square feet of distribution and manufacturing space and establish Fernley, a submarket of Reno, as the premier industrial and data center hub in northern Nevada.”
Phase II of Victory Logistics District’s master plan is focused on installing $120 million in infrastructure upgrades that are necessary to provide access and utilities to the next 1,600 acres of land at the project, allowing the development of significant industrial, manufacturing and data center projects.
“Master Plan Phase II will focus on creating new and enhancing existing roads and installing utilities and drainage systems to support future development and ensure Victory Logistics District’s long-term operational efficiency,” noted Rick Nelson, senior vice president of northern Nevada at Mark IV Capital. “The grading effort in this phase builds upon the project’s previous successes, including the completion of the first building at the site and the mass grading of over 400 acres in earlier phases. This major investment underscores Mark IV’s commitment to establishing Fernley as a premier logistics hub with world-class infrastructure.”
Construction in this second phase of the project will include:
- 600 acres of grading, opening approximately 1,600 acres for future development
- Newly developed land capable of handling multiple hyperscale data center campuses
- Data pathways to both Interstate 80 and Highway 50
- 9 million cubic yards of relocated soil to accommodate the construction of new buildings
- 4 miles of new paved roads
- More than 6 miles of new storm drains
- More than 5 miles of new water lines
Additionally, Mark IV is working with the City of Fernley and Nevada Department of Transportation to extend the Nevada Pacific Parkway connecting I-80 to Hwy 50, utilizing a Department of Transportation BUILD Grant contribution of $25 million. This key connector will substantially improve local transportation corridors around Victory Logistics District.
Victory Logistics District is situated in a Qualified Opportunity Zone. The development is being built in multiple phases and offers both distribution- and transmission-level power, along with access to renewable-energy sources like geothermal and solar power. Its location provides easy connectivity to key rail and highway networks. The master plan encompasses both speculative and build-to-suit construction, as well as infrastructure enhancements to support a variety of logistics solutions, including a private railcar switching facility and a transload facility.
Victory Logistics District will also be home to the Northern Nevada Advanced Materials Center of Excellence, a workforce development and academic and laboratory educational facility set to open during the summer of 2025.
Article Source: irei.com
