The Victory Logistics project boasts “tens of millions of square feet” and was the second-biggest land sale in Nevada history.
Reno Gazette Journal
A massive industrial park project east of Reno is entering its second phase after completing nearly 2 million square feet of industrial space.
The 4,300-acre Victory Logistics District industrial park in Fernley will hold a groundbreaking on Friday as it shifts its focus to building “critical infrastructure” for the project, according to developer Mark IV Capital, a real estate investment and private equity firm based in Newport Beach, California.
As of early 2025, the first phase of the Victory Logistics project is complete — the initial step in developing "tens of millions of square feet" of industrial space.
The project first made waves in 2019 as the second-largest land sale in the history of Nevada.
Only Blockchains' purchase of 65,000 acres of land at the Tahoe Reno Industrial Center in January 2018 was bigger.
The industrial park project is also located in a qualified opportunity zone, which makes it eligible for preferential tax treatment. In 2019, Mark IV Capital CEO Paul M. Cate stressed that the company is in it for the long run with the Victory Logistics District project.
“Our company is unique in our long-term approach where we seek to build and hold investments to perpetuity,” Cate said. We … thrive on long-term master-planned investments.”
What’s next for the Victory Logistics District during its second phase?
For its second phase, Victory Logistics will be grading 600 acres at the site and also opening about 1,600 acres for future development.
The developed land will target “hyperscaler” facilities, which typically refer to large-scale data centers geared toward cloud services. Examples of hyperscaler services include Amazon Web Services, Google Cloud, IBM Cloud and Microsoft Azure.
Hyperscaler facilities require a huge amount of computing power, storage and networking capability in order to support various digital services, according to Mark IV Capital.
The second phase includes the installation of key infrastructure for supporting hyperscaler operations.
These include installing data pathways along Interstate 80 and U.S. Highway 50.
The project will also include four miles of new paved road, more than five miles of new water lines, and more than six miles of storm drains.
All in all, just under 3 million cubic yards of solid will be relocated for the second phase of construction. That’s equal to filling roughly 880 Olympic-sized swimming pools or the Empire State Building, according to Mark IV Capital.
What’s the ultimate goal for the Victory Logistics District?
Once the project is completed, Mark IV Capital hopes to provide an array of services and facilities at Victory Logistics District.
The facilities include those not just geared toward data centers but operations such as distribution and manufacturing. The facilities will include a mix of build-to-suit projects for specific clients as well as some speculative projects that anticipate future demand.
Other projects on the list for Victory Logistics District include installing transmission-level power with access to geothermal, solar and other renewable sources. The project will also include a private railcar switching facility and a transloading hub for loading cargo from railcars to trucks and vice versa.
The Victory Logistics District will be eyeing some of the same prospective tenants as the Tahoe Reno Industrial Center, whose list of companies includes heavy hitters such as Tesla, Panasonic and Google. Proponents argue it is easier to develop due to its flatter terrain compared to the Tahoe Reno Industrial Center.
“Its logistical advantages and the shortage of available land in the region’s other submarkets make this the only option for users in need of top-quality distribution and manufacturing space of significant scale,” Evan Slavik, president of real estate with Mark IV Capital, said in 2019 following the land deal for the industrial space.
The Victory Logistics District is one of several projects by Mark IV Capital, which has developments in Nevada, California, Texas, Arizona and Colorado.