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Summit Mall in Reno For Sale
Posted: June 12th, 2022, 3:29 pm
by Alpha8472
This outdoor mall is 15 years and features Dillard's, the Apple Store, Century Theatres, and restaurants. Newmark Capital Markets says sales at this center are off the charts. They estimate the price will be over $100 million.
Re: Summit Mall in Reno For Sale
Posted: June 12th, 2022, 8:12 pm
by storewanderer
Dillards owns its building. The area where apartments were built above the mall was supposed to be an additional phase of mall.
Many retailers have closed over the years at this center. Forever 21, Gap, Gap Kid, Hollister, Abercrombie, Verizon (corporate; may be a dealer left), Buffalo Wild Wings, Fatburger, Johnny Carino's, Buffalo Wild Wings, Banana Republic, and various others I can't think of offhand or chains that went entirely bankrupt.
The main reasons this place has traffic is due to having the movie theater, due to Dillards (which isn't especially busy but does definitely get some traffic), due to William Sonoma being there, due to Apple being there, and due to BJ's being there (which is extremely popular).
The seller is wise to sell now. Actually they would have been wise to sell about 9 months ago. It may be too late now.