“The Outlets at Legends is a valuable addition to our thriving joint venture with RED. The property is a market leader in greater Reno and continues to attract some of the region’s most desirable tenants.”
Sparks, NEV. (PRWEB)
September 21, 2017
BIG Shopping Centers USA and RED Development, LLC announced today the addition of the 1 million square-foot Outlets at Legends property in Sparks, Nev. to their successful joint partnership, BIG RED Portfolio LLC.
The Outlets at Legends features more than 40 brand-name retail stores and restaurants in a meticulously designed, pedestrian-friendly layout that includes outdoor plazas. The development is anchored by a 240,000 square-foot Scheels and Nevada’s only IMAX Theatre.
The BIG RED Partnership, first announced in 2013, seeks to maximize market presence and performance of select U.S. retail properties in the Midwest and West. With the addition of the Outlets, the portfolio now consists of 12 retail assets totaling more than 4.2 million square feet in 5 states, including Arizona, Nebraska, Wisconsin, Missouri and now Nevada.
Currently under expansion, The Outlets broke ground earlier this month on 75,000 square feet of new retail space that will house a 40,000 square-foot Burlington Coat Factory set to open this spring, along with a Habit Burger Grill, Jersey Mike’s and standalone Chik-fil-A, all set to open during the first half of 2018. Adjacent to The Outlets, two new hotels are also currently under development by Olympia Companies.
“The Outlets at Legends is a valuable addition to our thriving joint venture with RED. The property is a market leader in greater Reno and continues to attract some of the region’s most desirable tenants,” said Stanley L. McElroy, Jr., president, BIG Shopping Centers USA. “The expansion underway and proven track record exemplifies our focus on high-quality properties in select growth markets.”
Retailers at The Outlets have experienced tremendous sales growth in recent years, with year-over-year sales growth reported at more than 10 percent, compared to a national average of 5.6 percent. In the last 12 months, the development has welcomed openings of H&M, and a flurry of other new stores and…