Firecreek Crossing

What it is

Firecreek Crossing is a 347,979 SF power center on Kietzke Lane in Reno, owned by Seattle-based Bridge33 Capital, which closed on it November 25, 2024, per Bridge33's acquisition announcement. Bridge33 lists Walmart, Floor & Decor, TJ Maxx/HomeGoods, and Reno's only Sam's Club among its tenants, and called the purchase its fifth acquisition in Nevada. The center is under renovation and backfill, per CoStar as cited in our June 2026 pipeline guide, with West Coast Sourdough planning its second Reno unit at 4809 Kietzke Lane, per This Is Reno.

This is not a ground-up project. Our June guide called it the most visible example of out-of-state capital acquiring and repositioning Reno retail. Purchase price and renovation budget: not disclosed. All tracked projects: the What's Coming to Reno hub.

Status as of October 2026

Under renovation, with backfill under way, per CoStar as cited in our June guide. Our September 9 openings roundup described it as under renovation by an out-of-state owner, and our fall tracker update lists it as landing backfill tenants. We list it as Under construction on the hub while the renovation continues; our sources do not report its current occupancy.

The one named new tenant is West Coast Sourdough. The California sandwich chain opened its first Reno restaurant on September 9 at 1171 Steamboat Parkway, Suite 110, with a second location planned at 4809 Kietzke Lane, per This Is Reno. No Kietzke opening date has been reported. Renovation completion: not disclosed.

Timeline

• November 25, 2024: Bridge33 Capital closes on the acquisition, per Bridge33; price not disclosed.
• June 8 and June 10, 2026: Our national brands post cites the center's acquisition and repositioning by out-of-state capital, per CoStar; our pipeline guide two days later describes it as renovation and backfill by an out-of-state investor.
• September 9, 2026: West Coast Sourdough opens at 1171 Steamboat Parkway, Suite 110, with a second unit planned at 4809 Kietzke Lane, per This Is Reno.
• September 16, 2026: Our fall tracker update lists Firecreek Crossing as landing backfill tenants.
• Kietzke opening, renovation completion: TBD.

Who is in

West Coast Sourdough is the only new tenant named in our sources, and it is planned, not open, per This Is Reno. The anchors, per Bridge33, are Walmart, Floor & Decor, TJ Maxx/HomeGoods, and Sam's Club.

What it means for tenants, owners, and investors

Tenants. Our Q2 2026 report estimates vacancy near 3.4% and asking rents near $1.53 per square foot per month NNN. Our fall update puts second-generation space at $2.00 to $3.00 against new construction at $4.00 to $5.00, the new-construction range per brokers cited by the Nevada Appeal, and its advice is to sign the good existing space when you find it. Firecreek's own asking rents are not disclosed in our sources. Ian Cochran's read from our September 9 roundup: a new-to-market brand choosing a repositioned center for its second unit is the backfill thesis working in real time, and not one of this summer's nine openings landed in a commodity center. Checklist: our restaurant space page.

Owners. Ian Cochran's view from our September 9 roundup, which pointed to a repositioned center landing a new-to-market brand's second unit before its first one had opened: renovation capital is being rewarded with tenant quality, not just rent. On the same corridor, In-N-Out filed a building permit application in May for the former Redwood Rotisserie site at Plumb and Kietzke, per the Reno Gazette-Journal via our fall update, with no construction start reported; that update expects every pad within a half mile on Kietzke to re-price when construction starts. Details on our In-N-Out project page. The fall update's owner guidance after the rate hike: higher rates push cap rates up at the margin and slow the next wave of development, and if you are holding, the scarcity thesis got another year. Our sell-or-hold guide has the math.

Investors. Two out-of-state institutional buyers paid a combined $122 million for Reno retail this summer, per our fall update, whose scorecard lists Legends at Sparks Marina at $103 million on July 23 and Reno Public Market at $19.3 million in June. Our Q2 2026 report places stabilized multi-tenant Reno retail at roughly 6.0% to 6.5% cap rates. The Federal Reserve raised its benchmark rate a quarter point to 3.75% to 4.00% on September 16, the first increase since 2023, per CNBC via our fall update. That update expects the institutional bid to hold for grocery-anchored and lifestyle product with in-place occupancy above 95% and to thin out for everything else, which is where a local buyer with local knowledge should be looking; Firecreek's occupancy is not disclosed in our sources. From our June guide: "When sophisticated capital starts buying your market's B+ assets to reposition them, the repricing of the whole market tends to follow." More on our NNN investment page and off-market page.

Sources

• Bridge33 Capital acquisition announcement (closed November 25, 2024): size, anchors, and Nevada acquisition count
• CoStar (center size; out-of-state renovation and backfill; data undated), via our June 8 national brands post and June 10 pipeline guide
• This Is Reno (West Coast Sourdough opening and planned Kietzke unit; article undated), via our September 9 roundup and fall update
• Our Q2 2026 Reno-Sparks Retail Market Report (August 14, 2026)
• Reno Gazette-Journal (In-N-Out permit application, filed May 2026; article undated), via our fall update
• Nevada Appeal (new-construction rents cited by brokers; article undated), via our fall update
• CNBC (Federal Reserve rate decision, September 16, 2026), via our fall update
• Our fall 2026 tracker update (September 16, 2026) and September 9, 2026 openings roundup