RENO, NV-Privately held AIG Baker of Birmingham, AL is looking to sell Sparks Crossing, its newly developed regional shopping center here by the end of the year. The 335,875-sf regional shopping center opened earlier this year in the City of Sparks, an eastern suburb of Reno. Faris Lee Investments has the disposition assignment.

Located at the intersection of Los Altos Parkway and Pyramid Lake Scenic Byway, the retail center has 220,000 sf for larger retailers and 115,000 sf of small shop space. The center is anchored by Best Buy; Bed, Bath & Beyond; PetSmart; Cost Plus World Market; Old Navy; Ross; Michaels; Shoe Pavilion and Office Max. Additional national tenants include Chili's, Famous Footwear, Subway and Panda Express.

Rents at the development range from $27 per sf to $38 per sf per year for the smaller shop spaces and from $12 per sf to $15 per sf for the larger tenants. The center is not yet stabilized. Faris Lee's Don MacLellan declined to estimate the property's retail value but says the seller is looking to close a deal by year's end that includes a future earn out based on the occupancy at that time.