Barclay Group Acquires 46.7 Acre Development Site In Sparks From KM2 Development For $25.6M

The property asset involved in the transaction is a development site located at the Southwest Corner of Wingfield Hills Road & Pyramid Highway in Sparks, NV. This site spans approximately 46.7 acres and was acquired for a total sale price of $25,600,000, which translates to a price per buildable square foot of $64. The buyer, Barclay Group, has plans to develop a retail power center with a total building size of 400,000 square feet.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $25,600,000
• Address: Southwest Corner of Wingfield Hills Road & Pyramid Highway
• Market: Sparks, NV
• Acres: 46.7
• Building Size: 400,000 SQFT
• Price Per Buildable Square Foot (PPBSF): $64
• Buyer: Barclay Group
• Seller: KM2 Development
• Brokers: Sean Retzloff & Shawn Smith - Kidder Mathews

Sean Retzloff and Shawn Smith from Kidder Mathews represented KM2 Development in this transaction. They will also manage the leasing of the newly developed retail power center planned by Barclay Group.