October 22, 2019
Sparks Galleria, a premier grocery-anchored retail center in Sparks, NV, near Reno, has traded hands for $40.65 million. The 212,647-square-foot, grocery-anchored retail center is located on Disc Drive and Galleria Parkway, east of Route 445/Pyramid Way.
NKF’s Capital Markets group and Colliers International, together, represented the seller, Pine Tree Commercial Realty, in the sale to CIRE Equity.
The center is anchored by Sprouts Farmers Market and Marshalls/HomeGoods, and features a roster of additional national and regional retailers such as Starbucks, Qdoba Mexican Eats, See’s Candies and Kay Jewelers.
“The future for Sparks Galleria is bright, with unique landlord leverage due to increased consumer traffic driven by its anchor tenants, as well as recent economic and residential expansion in the surrounding area,” said NKF’s Rob Ippolito, who led the sale with support from Colliers International.
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