Double R Marketplace

What it is

Double R Marketplace is roughly 135,000 SF of Class A retail on 15 acres at Double R Boulevard and Damonte Ranch Parkway in South Reno, with Grocery Outlet confirmed as an anchor, Dickson Commercial Group as leasing agent, and construction underway as of September 2026. Tenant turnover is expected in the first quarter of 2027.

Size, acreage, and location are per our June 2026 pipeline guide, which places the site between SouthTowne Crossing and Damonte Ranch Town Center. Our Q1 2026 report describes the project as retail and office space. The developer is not disclosed; the building permits were filed by Double R Marketplace LLC, per City of Reno permit filings cited in our Q2 2026 report. Hub: What's Coming to Reno.

Status as of September 2026

Under construction. Our September 16 tracker update counts Double R among the projects already under construction, and its scorecard describes the first building as delivering. On this hub, Delivering starts when shell space is turned over to tenants, which Gary Tremaine of Dickson Commercial Group, the leasing agent, expects in the first quarter of 2027 rather than the fourth quarter of 2026, per our Q2 2026 report. Until turnover begins, this hub lists the project as Under construction.

The roughly 45,000 SF first building was expected online this summer, per Nevada Business Magazine's Q1 retail summary as cited in our July 2026 permit watch. Our Q2 2026 report's base case assumed a third-quarter delivery for the Damonte Ranch building. We have not confirmed completion as of September 16.

The Grocery Outlet permit is reported in two places. Per City of Reno permit filings cited in our Q2 2026 report, Double R Marketplace LLC submitted building permits in April and May 2026 for a roughly 16,000 SF cold-shell building for Grocery Outlet. Separately, the Reno Gazette-Journal, as cited in our July permit watch and fall update, reports that Grocery Outlet holds a permit for a 16,000 SF cold-shell building at 640 Damonte Ranch Parkway. No source we track states the filing months and the address together.

Timeline

• Q1 2026 report (published June 2026): Grocery Outlet confirmed as a tenant, per news reports cited in the report. The same report lists a roughly 45,000 SF Damonte Ranch building under construction and expected to deliver in summer 2026, without naming the project.
• April and May 2026: Double R Marketplace LLC files building permits for the roughly 16,000 SF Grocery Outlet cold shell, per City of Reno permit filings cited in our Q2 2026 report.
• June 2026: The first roughly 45,000 SF section shows availability, per our June guide.
• Summer 2026 (target): First building online, per Nevada Business Magazine's Q1 retail summary.
• Q1 2027 (target): First tenant turnover, per Gary Tremaine of Dickson Commercial Group, revised from Q4 2026, per our Q2 2026 report.
• Later phases: Not disclosed.

Who is in

Grocery Outlet is the only tenant named in the sources we track: confirmed per news reports cited in our Q1 2026 report, and described as the project's first confirmed tenant in our Q2 2026 report. No other tenants have been announced publicly.

Our Q2 2026 report lists a roughly 45,000 SF Damonte Ranch building as under construction and substantially pre-leased at the end of the quarter. That passage does not name Double R, and we have not confirmed which tenants it covers.

Full Belly Deli opened nearby at 9333 Double R Boulevard in August, per the Reno News & Review. Our fall 2026 tracker update calls that opening a preview of the daytime demand this corridor supports.

What it means for tenants, owners, and investors

Tenants. Ian Cochran's view, from our July permit watch: a shell delivered this summer with a Q1 2027 turnover means the leases are being negotiated now, and if you need South Reno in 2027 and have not made contact, you are already late. The next comparable delivery in the corridor is Downtown Damonte, per our June guide, which is working through a FEMA floodplain review ahead of major construction, per News 4 on July 1. New construction needs $4.00 to $5.00 per square foot per month, per brokers cited by the Nevada Appeal, against $2.00 to $2.25 for Class A space in Damonte Ranch, per our Q1 2026 report. Alternatives: our South Reno guide.

Owners. Ian Cochran's view, from our June guide: well-located existing centers are validated by this pipeline, not threatened by it. South Reno vacancy sits near 1.5%, per our Q2 2026 report. In-place rents of $2 to $3 against $4 to $5 replacement-cost rents, per brokers cited by the Nevada Appeal, are both a moat against new supply and embedded upside as leases roll, per our June 2026 supply squeeze post. Per our fall 2026 update: if you are holding, the scarcity thesis just got another year.

Investors. Ian Cochran's expectation, per our fall 2026 tracker update: the institutional bid holds for grocery-anchored and lifestyle product with in-place occupancy above 95% and thins out for everything else, which is where a local buyer with local knowledge should be looking. The Fed's September 16 hike to 3.75% to 4.00%, per CNBC, makes projects already under construction more valuable and the next wave costlier to finance, per the same update. Stabilized multi-tenant Reno retail trades near 6.0% to 6.5% cap rates, with investment-grade single-tenant net-lease assets tighter, per our Q2 2026 report; the report gives no South Reno breakout. See our NNN investment and off-market pages.

Sources

• Retail Reno June 2026 pipeline guide (June 10, 2026), size, acreage, and location
• Nevada Business Magazine Q1 2026 retail summary, first building expected online summer 2026 (article undated; via our July 2026 permit watch and fall 2026 tracker update)
• Reno Gazette-Journal, Grocery Outlet 16,000 SF cold-shell permit at 640 Damonte Ranch Parkway (article undated; via the same two posts)
• City of Reno permit filings (April and May 2026), Double R Marketplace LLC building permits for a roughly 16,000 SF Grocery Outlet cold shell, via our Q2 2026 report
• Gary Tremaine, Dickson Commercial Group, leasing agent, Q1 2027 tenant turnover (via our Q2 2026 report, August 2026)
• Retail Reno Q2 2026 Reno-Sparks Retail Market Report (August 14, 2026)
• Retail Reno Q1 2026 Reno-Sparks Retail Market Report (June 2026)
• Nevada Appeal, new-construction rent range cited by brokers (article undated; via our June 2026 supply squeeze post and fall 2026 tracker update)
• News 4 (July 1, 2026), Downtown Damonte FEMA floodplain review, via our Q2 2026 report and fall 2026 tracker update
• Reno News & Review, Full Belly Deli August 2026 opening at 9333 Double R Boulevard (article undated; via our September 2026 openings roundup and fall 2026 tracker update)
• CNBC (September 16, 2026), Federal Reserve rate decision, via our fall 2026 tracker update