Legends at Sparks Marina, a 41-acre mixed-use retail and entertainment destination in Sparks, Nevada, has been sold in a $103 million transaction. The open-air center, described as a premier regional destination, continues to draw significant investor attention within the Northern Nevada retail landscape.
The property spans approximately 421,479 square feet and was about 95.8% occupied at the time of sale. Located at 1310 Scheels Drive, the center sits within a larger retail hub that includes several major national brands, reinforcing its role as a core shopping and entertainment node in the area.
The buyer in the transaction is Alturas Capital Partners, which acquired Legends at Sparks Marina from BIG Shopping Centers USA and RED Development. Newmark, through its professionals Kyle Miller and Rob Ippolito, represented the selling entities in the deal. The sale underscores continued interest from institutional and private capital in stabilized, large-format retail destinations with strong tenant rosters.
Legends at Sparks Marina features a mix of retail, dining and entertainment uses. Current tenants include Galaxy Theatres, Burlington, H&M, Nike, Sephora, Defy and Cavender’s. A Yard House location has also been announced for the property and is currently under development, adding to the center’s food and beverage offerings.
The center benefits from a cluster of adjacent shadow anchors that help drive regional traffic, including Scheels, Target, Lowe’s, TJ Maxx and Legends Bay Casino. According to Newmark’s Rob Ippolito, the asset combines institutional-quality real estate with strong in-place cash flow and long-term upside potential, supported by the broader growth trajectory of Northern Nevada and its position within one of the Western United States’ more dynamic growth markets.
