- For sale
Colliers Retail Capital Markets Team is excited to present the unique opportunity to acquire the top retail destination in the Reno/Sparks market, the Legends at Sparks Marina, a ±1.1M square foot regional community and open-air lifestyle center that is prominently located at the northwest corner of Interstate the Interstate 80, Sparks Blvd and Veterans Parkway interchange.
The Legends at Sparks Marina is conveniently located within the rapidly growing Sparks submarket in northeast Reno but serves the entire Reno/Sparks trade area. Out of 50 qualifying shopping centers in Reno/Sparks, The Legends at Sparks Marina is the top retail destination in the market with over 11.4 million visitors in the last 12 months.
The entire Legends at Sparks Marina development features national retailers such as Target, Lowe’s Home Improvements, Scheel’s Sporting Goods, Burlington, Nike, Adidas, Old Navy, Galaxy IMAX Theatres, Residence Inn and Hampton Inn hotels, and the new ±80,000 SF Legends Bay Casino opening in the summer of 2022.
The Legends at Sparks Marina oﬀering is ±431,223 square feet that is 98.5% leased to over 65 tenants including Burlington, Nike, Adidas, Volcom, Vans, Sketchers, Levi’s, The GAP, Galaxy Theatre, H&M, Forever 21, Five Below, Sephora, Panera, Banana Republic, Converse, The Habit Burger, Jersey Mike’s and Blaze Pizza. Immediate upside exists in leasing up the vacant 6,637 SF and future upside exists in the lease or sale of the vacant land pads, and the rollover of below market and percentage rents.
The Legends at Sparks Marina is an exceptional opportunity to acquire the dominant shopping center in Reno, which provides a stable return from national credit tenants with signiﬁcant future upside.