Colliers wins listing for Kmart in Sparks
Colliers International has been chosen to market the subleasing of the Kmart Distribution Center located at 1402 S. McCarran Boulevard in Sparks.
Sears Holdings Corp. previously occupied the 1,556,706-square-foot distribution center before becoming vacant. Chris Fairchild and Greg Shutt, both vice presidents of Industrial Services at Colliers, will be exclusively listing the property.
Originally built by McKenzie Properties in 1970 for Kmart, the building is currently the second largest in the area after its expansion in 1973. Centrally located in Sparks with close proximity to Interstate 80 and situated on 54.19 acres, Sears Holdings controls the property with six, five-year options to lease the asset. Colliers Reno is listing the building with a lease rate of 15 cents a square foot per month modified gross for a full building user.
Colliers began advertising the property in mid-July and already is engaged in conversations with potential tenants. Fairchild says the facility has drawn interest from those in the distribution, manufacturing and warehousing industries.
“It provide real opportunities with immediate access to I-80 in the heart of Sparks along with a large labor pool to draw from,” Fairchild said.
Reno’s median home price jumped to $413,405 in November, a 4 percent increase from the same month a year ago. Meanwhile, across greater Reno-Sparks, November’s median price of $400,000 remained unchanged from October.