Los Angeles investor acquires Reno’s Mira Loma Shopping Center
RENO, Nev. — Continental Partners, a commercial real estate investment banking firm, recently secured a loan for a Los Angeles-based private investor to acquire the Mira Loma Shopping Center in Reno.
Financing was arranged by J.M. Grimaldi, executive vice president at LA-based Continental Partners.
The 102,782-square-foot shopping center in Reno is anchored by CVS Pharmacy and Scolari’s Grocery. According to Continental Partners, the private investor plans to implement renovations to the center, as well as remediate environmental contamination issues remaining due to a former tenant.
Editor’s note, 11:25 a.m. April 19: This story has been updated from a previous version to correctly report J.M. Grimaldi’s title with Continental Partners, as well as to make clear that Continental Partners secured a loan for the shopping center for a Los Angeles-based private investor to acquire the property. The NNBW regrets the initial errors.
The new owner of The Crossing at Tahoe Valley is Second Bay Holding Tahoe, LLC, based in Redwood City, Calif. The 46,041-square-foot center was originally constructed in 1973.