Eagle Landing Neighborhood Center, an 18-acre shopping plaza at the corner of Pyramid Highway and Eagle Canyon Drive in Spanish Springs, is more than half leased despite a tough environment for retailing and shopping center development.
Steve Hamilton, managing partner of Eagle Landing Center LLC, said 10,276 square feet of retail space has been completed with an additional 15,194 square feet under construction and another 67,564 square feet planned. The $23 million property features contemporary Western architecture.
Hamilton Homes LLC is the general contractor managing construction on the 93,000-square-foot retail site.
"Lease rents are holding steady due to demand," says Hamilton, owner of Hamilton Homes. "In spite of tough economic conditions, about 30,000 cars cross this intersection daily. And NDOT rates this as one of the busiest corners in Northern Nevada."
Line-shop space in the center is advertised for lease at $2.35 a square foot.
Efforts to lease the new center come as retail sales are weakening across the region. Taxable sales in Washoe County during October fell by nearly 14 percent from year-earlier figures, the state Department of Taxation reported last week.
Leasing discussions are under way with an auto parts store, a take-and-bake pizza company, a pizza parlor, a game arcade and a self-service car and dog wash, said Hamilton.
Leases signed include Bully's Bar & Grill, Smokin' Bully's, H&R Block, Katz Coffee (owned by Spanish Springs resident Justin Bright), Walgreen's, Subway, and Fresh & Easy Neighborhood Market.
The Bully's locations are open, H&R Block was scheduled to open last week, Walgreen's will start construction in February, Subway plans a spring opening and Fresh & Easy is scheduled for a summer opening
Roxanne Stevenson, Adam Wexelblatt and Rick Casazza of Colliers International handle leasing.
