Reno - Red Development LLC
Reno - Red Development LLC
Reno - Red Development LLC
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A legendary shopping experience<br />
w w w . E X P E R I E N C E L E G E N D S . c o m
PROPERTY OVERVIEW<br />
Catch the Spark<br />
The Outlets at Legends Sparks Nevada is sparking the imaginations of shoppers<br />
across the West. This beautiful shopping, dining and entertainment destination<br />
just minutes from downtown <strong>Reno</strong> offers top shopping in a fresh, outdoor setting<br />
bursting with appealing amenities.<br />
Magnificent artworks, fountains, lush landscaping and dramatic mountain views<br />
frame a collection of restaurants and retailers offering exactly what shoppers<br />
want today: including the best outlet stores – Adidas Outlet, Ann Taylor Factory<br />
Outlet, Banana Republic Factory Store, BCBG Final Cut, Converse Outlet, Guess<br />
Factory Store, Old Navy Outlet and Nike Factory Store. Add Scheels, the world’s<br />
largest collection of sporting goods and sportswear under one roof, together with<br />
important everyday draws like Target, Best Buy and Lowe’s, and the result is a<br />
legendary shopping destination.<br />
Here in Northern Nevada, the <strong>Reno</strong>-Sparks market is a magnet for millions of funseeking<br />
visitors, who come for extraordinary outdoor adventures and to<br />
experience the thrills of world-class events, casinos and more. Shopping – the<br />
number one tourist activity in the country, according to Shop America Alliance –<br />
puts the exceptional Outlets at Legends Sparks Nevada at the center of the<br />
region’s vibrant visitor-focused economy.<br />
Your legendary<br />
brand belongs here
RETAILER SUCCESS<br />
The Outlets at Legends Sparks Nevada is the regional powerhouse when it comes to retail. Shoppers’<br />
increasing interest in name-brand outlets, combined with this gorgeous amenity-filled environment,<br />
let us stand out from the competition.<br />
With a great mix of popular outlet stores, full-price brands, everyday uses and appealing restaurants<br />
– all in a beautiful outdoor setting – this successful property remains the region’s odds-on favorite.<br />
One-third of our shoppers come from outside the <strong>Reno</strong>-Sparks trade area and are not cross-shopping<br />
other centers while in the market.<br />
A Draw for First-to-Market Retailers<br />
The strong set of retailers at Outlets at Legends includes this impressive list of first-to-market stores:<br />
Adidas<br />
Ann Taylor Factory Store<br />
Banana Republic Factory Store<br />
BCBG Final Cut<br />
BCBG Max Azria<br />
Bose Factory Store<br />
Carter’s<br />
Forever 21<br />
Fuddruckers<br />
GAP Factory Store<br />
Grimaldi’s<br />
GUESS Factory Store<br />
Gymboree Outlet<br />
Jazz, A Louisiana Kitchen<br />
Jones New York Outlet<br />
Kenneth Cole<br />
Nike Factory Store<br />
Off Broadway Shoes<br />
Old Navy Outlet<br />
Osh Kosh B’Gosh<br />
Popeye’s Louisiana Kitchen<br />
Sanrio<br />
Scheels<br />
Sketchers USA Outlet<br />
The Old Farmer’s Almanac General Store<br />
Vans Outlet<br />
Volcom<br />
A Legendary Setting<br />
for Retailer Success
RETAILER SUCCESS<br />
New Retailers Opening in 2013<br />
The Outlets at Legends Sparks Nevada’s sustained sales growth<br />
continues to attract retailer interest. This increased activity<br />
translates into the addition of exciting new names in the coming<br />
months, including:<br />
Buffalo Wild Wings – Opening Fall 2013<br />
Galaxy Theatres IMAX – Opening Fall 2013<br />
A Legendary Setting<br />
for Retailer Success
MARKET INFORMATION<br />
PRO-BUSINESS<br />
Pro-Business Environment<br />
<strong>Reno</strong> – one of “America’s 50 Best Cities: Best Places to Live”<br />
-2012 BusinessWeek Magazine<br />
Nevada – the “No. 12 Best States for Business”<br />
-2012 Chief Executive Magazine<br />
Nevada – No. 7 for business costs and No. 6 for growth prospects<br />
-Forbes “Best Places for Business”, 2011<br />
Nevada – ranks high in “Enterprising States: Recovery and<br />
Renewal for the 21st Century”<br />
-2011 U.S. Chamber of Commerce<br />
<strong>Reno</strong> – one of the “Top 20 Least Expensive Cities to Do Business”<br />
-2011 Kosmont-Rose Institute Cost of Doing Business Survey<br />
Apple – the technology giant is investing $1 billion in Northern Nevada over the<br />
next 10 years<br />
• Estimated economic impact of $343 million in new jobs<br />
• $103 million in construction jobs<br />
• New data center just east of Sparks along Interstate 80<br />
• New business and purchasing center in downtown <strong>Reno</strong><br />
• 250 new jobs and 580 construction jobs<br />
• $16 million in tax revenue
MARKETING FOR SUCCESS<br />
Smart Marketing Draws Visitors and Locals<br />
A dedicated, on-site marketing team drives a creative year-round effort that maximizes traffic and sales for the<br />
Outlets at Legends. Strong community connections also put the property front and center for local causes --<br />
from non-profit walk/runs to the holiday season’s charity-focused Lights of Kindness.<br />
Just a sample of the appealing events on property:<br />
• Moonlight Magic and Tree Lighting Party – Two popular November events set the stage for the<br />
Holidays<br />
• Legendary Model Search – This signature annual event in partnership with a local modeling agency<br />
focuses on fashion<br />
• Back-to-School Fair – Sponsored by the local school district and area radio stations, this event<br />
helps kids and their families gear up for the new school year<br />
• Frightmare and Halloween Safe Trick or Treating – These events make Outlets at Legends a go-to<br />
family destination for spooky October fun<br />
• Plus: RV shows throughout year, summer craft fairs, the annual Crawfish Festival and so much more<br />
• Mom & Me Health Fair with St. Mary’s Hospital<br />
The robust tourism program leverages key partnerships with the <strong>Reno</strong> Sparks Convention and<br />
Visitors Authority, hotels, casinos, the airport and more. Elements include:<br />
• Visitor VIP Savings Passes and Vouchers – More than 30,000 passes distributed to groups and<br />
conventions each year<br />
• Airport Program – Signs invite visitors to receive a $5 gift card with out-of-state ID and boarding pass<br />
• First Choice Hotel Program – hotel partners give guests customized savings vouchers and driving<br />
directions to Legends<br />
Well-designed loyalty programs for locals build these important relationships, via:<br />
• Frequent Diner Program (the only shopping center dining incentive program in the region)<br />
• Shopper Rewards Program<br />
• VIP Savings Pass
TRADE AREA MAP<br />
BOISE<br />
RENO/SPARKS<br />
SACRAMENTO<br />
SALT LAKE CITY<br />
SAN FRANCISCO<br />
LAS VEGAS
MARKET AREA MAP<br />
US<br />
395<br />
659<br />
Downtown <strong>Reno</strong><br />
6 miles<br />
California/Nevada<br />
State Line<br />
17.5 miles<br />
I-80<br />
651<br />
<strong>Reno</strong>/Tahoe<br />
International Airport<br />
4.5 miles<br />
I-80<br />
Meadowood Mall<br />
9 miles<br />
US<br />
395<br />
Incline Village/Lake Tahoe<br />
40 miles<br />
The Summit Sierra<br />
16 miles
AERIAL<br />
OPEN TODAY<br />
UNDER CONSTRUCTION<br />
Galaxy<br />
IMAX<br />
Theater<br />
FUTURE DEVELOPMENT<br />
Future<br />
Casino<br />
Future<br />
Walmart<br />
Retail<br />
GAS<br />
Best Buy<br />
INT ERSTATE I--80<br />
Old Navy<br />
Opened<br />
March 2013<br />
Buffalo Wild Wings<br />
Fall 2013 Opening<br />
TJMaxx - Opened Fall 2012<br />
LI NCOL N WAY<br />
Future<br />
Anchor<br />
BJ’s<br />
BI G FI SH DRIV E<br />
SPARKS BLVD.
MARKET INFORMATION<br />
ACCESS<br />
Superior Regional Access<br />
The <strong>Reno</strong>-Sparks market is the center of everything in Northern Nevada. With<br />
a growing population, strong employment and millions of visitors year round,<br />
this robust region is the perfect setting for Outlets at Legends.<br />
The <strong>Reno</strong>-Sparks market dominates Northern Nevada and is the hub of an<br />
extensive transportation network on two major highway corridors: Interstate<br />
80 and U.S. Highway 395.<br />
<strong>Reno</strong>-Sparks is centrally located to major western cities including San<br />
Francisco, Portland, Salt Lake City, Las Vegas and Los Angeles – all within a<br />
day’s drive.<br />
Tourists arrive by air as well: The <strong>Reno</strong>-Tahoe International Airport boasts<br />
more than 120 daily flights, and transports nearly 4 million passengers per<br />
year on seven major airlines.<br />
Ideally located on I-80 and Sparks Boulevard, easy access and high visibility<br />
distinguish Outlets at Legends Sparks Nevada. Eight 65-foot pylon signs<br />
precisely placed on I-80, maximize the center’s presence to more than 65,000<br />
cars driving by every day.
MARKET INFORMATION<br />
DEMOGRAPHICS<br />
Vibrant Demographics<br />
An excellent quality of life along with family-friendly home prices, an<br />
exciting calendar of fun things to do and the temperate four-season<br />
climate make <strong>Reno</strong>-Sparks a great place to live.<br />
Growing Population<br />
The trade area’s population of 430,588 is expected to grow nearly 6% to<br />
440,275 in the next five years.<br />
Strong Incomes<br />
More than 27% of the population has an income of $75,000 or higher.<br />
Significant Business Presence<br />
The daytime population within 5 miles of the center is more than 95,150.<br />
<strong>Reno</strong> – one of “America’s 50 Best Cities: Best Places to Live”<br />
-BusinessWeek, 2011
MARKET INFORMATION<br />
COST OF LIVING<br />
<strong>Reno</strong>-Sparks Is an Affordable Place to Live<br />
When it comes to cost of living, <strong>Reno</strong>-Sparks has a great story to tell in the West. The <strong>Reno</strong>-Sparks<br />
trade area has a cost of living index that is below the national average and comparable markets.<br />
That translates into more disposable income for area shoppers and diners.<br />
Cost of Living Index*<br />
Population<br />
Average HH Income<br />
Median Housing Value<br />
Cost of Housing Index*<br />
Median Age<br />
<strong>Reno</strong>-Sparks<br />
92.3%<br />
430,558<br />
$60,925<br />
$189,748<br />
86.1%<br />
37.4<br />
Boise<br />
96.2%<br />
640,691<br />
$58,613<br />
$159,567<br />
84.6%<br />
34.7<br />
Salt Lake City<br />
95.3%<br />
1,171,412<br />
$70,622<br />
$210,826<br />
89.1%<br />
31.6<br />
Las Vegas<br />
98.3%<br />
1,990,244<br />
$61,405<br />
$155,525<br />
90.2%<br />
36.2<br />
Sacramento<br />
117.8%<br />
2,207,469<br />
$75,239<br />
$244,854<br />
144.9%<br />
36.4<br />
*Source: ACCRA Cost of Living Index. The index provides a measure of living cost differences<br />
among urban areas, including housing, grocery, utility, transportation and health care costs,<br />
and is based on a national average of 100%.
MARKET INFORMATION<br />
EMPLOYMENT<br />
Robust Employment Picture<br />
With high-tech manufacturing and healthcare plus a strong gaming and visitor<br />
economy, <strong>Reno</strong>-Sparks has a daytime office population of nearly 225,000.<br />
More than 46,000 office employees work within three miles of the Outlets at Legends.<br />
Top 10 Major Employers in the <strong>Reno</strong>-Sparks metro area are:<br />
Employer<br />
Number of Employees<br />
Washoe County School District 8,000-8,499<br />
University of Nevada <strong>Reno</strong> 4,000-4,499<br />
<strong>Reno</strong>wn Regional Medical Center 2,500-2,999<br />
Washoe County 2,000-2,499<br />
International Game Technology 2,000-2,499<br />
Peppermill Hotel Spa Casino 2,000-2,499<br />
City of <strong>Reno</strong> 1,700-1,499<br />
Silver Legacy Resort Casino 1,500-1,999<br />
Atlantis Casino Resort 1,500-1,999<br />
St. Mary’s Medical Center 1,500-1,999<br />
*Coming soon - Apple
MARKET INFORMATION<br />
EDUCATION<br />
A Center for Higher Education<br />
Higher education thrives within sight of the majestic Sierra Nevada Mountains.<br />
<strong>Reno</strong>-Sparks is home to The University of Nevada, <strong>Reno</strong>, a comprehensive<br />
research university that currently serves more than 18,000 students.<br />
Multiple research institutes, plus Truckee Meadows Community College and<br />
three career colleges – combined with the University of Nevada, <strong>Reno</strong> –<br />
account for more than 40,000 avid young consumers in the market.<br />
40,000+ college and graduate students reside in <strong>Reno</strong>-Sparks
MARKET INFORMATION<br />
TOURISM<br />
Tourism Drives Local Economy<br />
Tourism is big business for <strong>Reno</strong>-Sparks: Visitors generate more than<br />
$4 billion annually for the local economy.<br />
Approximately 4.6 million tourists visited the <strong>Reno</strong>-Sparks area in 2012 –<br />
that’s considerably more than:<br />
•The country of Jamaica (3 million tourists estimated in 2011)<br />
•Yellowstone National Park (3.4 million visitors in 2011)<br />
•Vail Mountain, Colorado (1.75 million skier visits in 2011)<br />
And visitors, of course like to shop. Nearly 50% of visitors to <strong>Reno</strong>-Sparks<br />
reported shopping as one of their activities. Those who came to the area<br />
for the primary purpose of shopping spent $330 per person, per day.<br />
Overall, <strong>Reno</strong>-Sparks visitors hail from:<br />
1. California (39.1%) 2. Texas (5.1%)<br />
3. Florida (4.3%) 4. Nevada (4.1%)<br />
5. New York (3.7%) 6. Illinois (3.0%)<br />
7. Arizona (2.9%) 8. Ohio (2.8%)<br />
9. New Jersey (2.6%) 10. Washington (2.5%)
MARKET INFORMATION<br />
AREA EVENTS<br />
Exciting Events Fill the Calendar<br />
<strong>Reno</strong>-Sparks hosts an incredible selection of annual events, along with year-round<br />
dining and gaming excitement. From balloon races and rodeo nights to taste-tempting<br />
cook-offs, high-profile special events attract visitors from around the country – and<br />
locals love them, too.<br />
Must-see regional events include:<br />
Name of Event<br />
Number of Attendees<br />
Hot August Nights 800,000<br />
Best in the West Nugget Rib Cook-off 500,000<br />
Artown 350,000<br />
National Championship Air Races 200,000<br />
The Great <strong>Reno</strong> Balloon Races 140,000<br />
<strong>Reno</strong> Rodeo 140,000<br />
US Bowling Congress Championships 100,000<br />
<strong>Reno</strong> Tahoe Open 50,000<br />
<strong>Reno</strong> River Festival 44,000<br />
The Outlets at Legends makes the most of popular regional events with special tie-in<br />
activities that support retailers and drive traffic to the center.<br />
For example, as a major sponsor of the community’s annual Hot August Nights, the<br />
center created Hot August Nights Legendary Shopping, which includes free shuttle<br />
service to the property from all major resorts for a day of shopping, music and prizes,<br />
plus the high-gloss “Legends Show and Shine” car show.<br />
Photo credit: Visit<strong>Reno</strong>Tahoe.com
MARKET INFORMATION<br />
AREA EVENTS<br />
Places to See and Be Seen Abound<br />
The <strong>Reno</strong>-Sparks area holds hundreds of events throughout the year – attracting more than 1.3 million<br />
people – that fuel the tourist economy. From stock shows and bowling tournaments to concerts and<br />
conventions, a wide range of events draws visitors to <strong>Reno</strong>-Sparks.<br />
A strong set of crowd-pleasing venues makes this possible, including:<br />
Venue About Numbers<br />
<strong>Reno</strong> Aces Ballpark Seasonal 9,100 capacity<br />
Lawlor Events Center Year-round multi-purpose arena 11,500 capacity<br />
<strong>Reno</strong> Events Center Year-round 150,748 annually<br />
<strong>Reno</strong> National Bowling Stadium Year-round 78 Championship lanes 204,177 annually<br />
<strong>Reno</strong>-Sparks Livestock Events Center Year-round 6,200 capacity 444,553 annually<br />
Pioneer Center for the Performing Arts Year-round 1,500 capacity<br />
<strong>Reno</strong>-Sparks Convention Center Year-round 500,000 square feet 310,824 annually<br />
<strong>Reno</strong>-Sparks is a recreation destination – a place where kayaks and climbing walls share the same<br />
stage as casinos and cabarets. With more than 300 days of sunshine each year, <strong>Reno</strong>-Sparks is a<br />
regional hub for a wide variety of outdoor recreation activities.<br />
The area boasts the largest concentration of ski resorts in North America and more than 100 miles of<br />
hiking and biking trails. PGA-caliber courses stretch from high deserts to stunning lakes – more than<br />
50 within a 90-minute drive of <strong>Reno</strong>.<br />
Photo credit: Visit<strong>Reno</strong>Tahoe.com
CONTACT INFORMATION<br />
Join the Legendary Shopping Experience -<br />
reach visitors and locals with a demonstrated passion for<br />
shopping in the dynamic <strong>Reno</strong>-Sparks market.<br />
For leasing, contact:<br />
SHARON WILKINS<br />
Director of Leasing<br />
RED <strong>Development</strong>, <strong>LLC</strong><br />
swilkins@reddevelopment.com<br />
425.222.4157 office | 425.241.0874 cell | 425.222.4159 fax<br />
RED has a track record for success, with a high-quality portfolio of more than 33 retail, commercial<br />
and mixed-used properties totaling more than 15 million square feet across 11 states.<br />
Resilient, Enterprising and Different, RED is a wholly integrated real estate company based in<br />
Arizona with exceptional projects across the West, including CityScape in downtown Phoenix and<br />
the new Rayzor Ranch Town Center in fast-growing Denton, Texas. www.reddevelopment.com<br />
A COMMERCIAL REAL ESTATE COMPANY