Two centers follow residential growth

Two affluent, fast-growing Reno neighborhoods Somersett in the northwest and Damonte Ranch in the south are targeted by new shopping centers anchored by major grocers.

A 72,000-square-foot Raley's store will anchor the McQueen Crossroads center at the southeast corner of Robb Drive and Mae Anne Avenue in northwest Reno.

The project will be developed by Wall Street Property Co.

On the other side of town, a 56,000- square-foot Smith's store will anchor Village at Double Diamond at South Meadows Parkway and Double R Boulevard.

Great American Capital of Las Vegas is developing that project in conjunction with Smith's and its parent company, Kroeger Foods.

The first phase of the Smith's project also is planned for 17,500 square feet of shops on six pads.

Another 21,000 square feet of shop space is planned in a second phase of construction.

Chris Waizman of Trammell Crow, which is handling leasing of the retail space space for Great American Capital, said both phases of the retail space may be built simultaneously.

"I think things are going to move pretty quickly out there,"Waizman said.

He said the center targets the Double Diamond neighborhood as well as Damonte Ranch, where about 5,000 homes will be built.

The center also is expected to draw from the 10,000 people who work in the South Meadows area.

The Smith's store is projected to open next May.

The McQueen Crossroads project, meanwhile, will include about 15,000 square feet of space for retail space along with several pads for free-standing buildings.

The site is 15 acres.

"We've been watching that area for Raley's for quite a while," said Mike Perry of Wall Street Property Co.

"There's been a considerable amount of growth in northwest Reno."

He said the company has had the property under contract for about three months.

Wall Street Property, based in Del Mar, Calif., also owns D'Andrea Marketplace, Redfield Promenade, Galena Junction and Sparks Mercantile in the Truckee Meadows.

Gary Johnson of Colliers International, which is handling leasing, said the company has letters of intend from nine retailers who want to lease space.

Colliers notes that the nearby Somersett development is projected to include 2,648 residential units, including 2,408 single-family homes.

The average household income within a one-mile radius of the shopping center site currently is $70,973, Colliers says.


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