Sprouts-Anchored Center in Sparks, NV Sells for $41M

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.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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Sprouts-Anchored Center in Sparks, NV Sells for $41M

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Sprouts-Anchored Center in Sparks, NV Sells for $41M

Inside The Story

About Dennis Kaiser