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8/14/26
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Alturas Capital Partners has acquired Legends at Sparks Marina, a 41-acre, 421.5k sf premier mixed-use retail and entertainment destination in Sparks, NV, for $103 mil ($244/sf). The property, located at 1310 Scheels Drive, was 95.8% occupied at the time of sale.
The centervserves as a regional draw throughout the Reno-Sparks metropolitan area and benefits from direct visibility along Interstate 80. The property attracts nearly 12 million annual visits and features a diverse tenant roster spanning retail, dining and entertainment uses.
The center includes Galaxy Theatres, Burlington, H&M, Nike, Sephora, Defy, Cavender’s and the recently announced Yard House, which is currently under development. The property also benefits from adjacent shadow anchors including Scheels, Target, Lowe’s, TJ Maxx and Legends Bay Casino.
Newmark Executive Managing Director Kyle Miller and Senior Managing Director Rob Ippolito represented the seller, BIG Shopping Centers USA and RED Development, in the transaction. The Newmark team also represented the seller in the disposition of The Summit Reno, another prominent open-air retail destination in the Reno market, in early 2023.
“Legends at Sparks Marina represents one of the most significant retail investment opportunities in Northern Nevada,” said Miller. “The property’s dominant market position, strong tenant performance and broad regional appeal generated substantial investor interest.”
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