The Crossroads

Name: The Crossroads
Brand: Marketplace

6625 S Virginia St,
Reno, NV 89511Represented by
Newmark

Asset Snapshot

Full Service

Retail Subtype

2005

Year Built

Floor Count

Building Count

12.36 Acres

Land Area

99.3%

Occupancy

Offering Summary

Investment Overview

Newmark is pleased to present the opportunity to acquire The Commons (“Property”), a ±148,275 SF, 99.3% leased community center in Reno, Nevada. Located at 6625–6795 South Virginia Street in Reno, Nevada, on the main north–south retail corridor connecting Midtown Reno to the region’s most productive big-box trade area. Built in 2005 on ±12.36 acres across two parcels, the center benefits from freeway-visible signage along Interstate 580 (±108,000+ VPD) and direct frontage on South Virginia Street (±23,900 VPD), placing it within the same corridor as Whole Foods, Walmart, Kohl’s, Target, Home Depot, WinCo, and the Super Regional Meadowood Mall. The Property is 99.3% leased across 23 tenants spanning 24 suites, anchored by Total Wine & More, PetSmart, DSW, Guitar Center, and 5.11 Tactical, and supported by a diverse mix of national and local services, medical, and food users including Mattress Firm, David’s Bridal, AAA, Massage Envy, Eyemart Express, Great Clips, and Sushi Minato. Approximately 82% of net rentable area is leased to national and regional credit tenants, and the weighted average tenure of the current tenant roster exceeds 15 years, reflecting a durable, well-established retail merchandising mix. The Commons carries an existing, assumable loan with a current principal balance of approximately $19.1 million, fixed at 4.555% through maturity in July 2028 on a 30-year amortization schedule — an attractive, below-market loan for a qualified buyer to assume or put new market rate financing (loan assumption NOT mandatory). Reno has earned significant recent national recognition. LinkedIn’s 2026 Cities on the Rise report ranks the Reno metro the 3rd fastest-rising U.S. job market in the country — driven by growth in data centers and advanced manufacturing, including a planned $1 billion lithium-sulfur battery factory. U.S. News & World Report ranks Reno #33 of 125 major U.S. metro areas in its Best Places to Live rankings, and Niche ranks Reno #13 among the Best Cities for Outdoor Activities in America. Nevada’s tax structure remains a consistent draw for both employers and residents relocating from higher-tax states: the state levies no personal or corporate income tax, and no inventory, franchise, inheritance, estate, unitary, intangibles, or capital gains tax. The property’s immediate trade area reflects this momentum with a five-mile radius population of roughly 160,000 and average household income of approximately $120,000, within a broader Reno-Sparks MSA projected to grow from approximately 578,700 to 600,000 residents by 2031.