Reno, Nev. — ShopOne Centers REIT Inc. has acquired Caughlin Ranch, a 113,376-square-foot shopping center in Reno, for $18 million.
The name of the seller was not disclosed. A 50,451-square-foot Raley’s Supermarket anchors the center. Additional tenants include Starbucks Coffee, Anytime Fitness and Wells Fargo. ShopOne has already made improvements to the property by increasing occupancy from 88 percent to 91 percent, and securing a long-term lease with Raley’s to replace previous tenant Scolari’s Warehouse Markets.