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Company newsIdahoInvestment salesNewsOhio

Kroger, Albertsons to Sell 166 Additional Stores in $2.9 Billion Divestiture Agreement Ahead of Proposed Merger 

by Hayden Spiess

Cincinnati — Cincinnati-based The Kroger Co. and Boise, Idaho-based Albertsons Cos. Inc. have announced plans to sell an additional 166 grocery stores to C&S Wholesale Grocers in a divestiture package. This marks an amendment to an existing agreement with the buyer, which will now acquire a total 579 stores in a $2.9 billion deal. The original divestiture package was announced in September of last year, in connection with a proposed merger between Kroger and Albertsons.  In February, the Federal Trade Commission (FTC) sued to block Kroger’s $24.6 billion acquisition of Albertsons …

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Kroger_Banks-Crossing_Fayetteville
Company newsIdahoInvestment salesNewsOhio

Kroger, Albertsons Agree to Sell 413 Stores in Connection with $24.6 Billion Merger

by Hayden Spiess

Cincinnati and Boise, Idaho — Kroger Co. (NYSE: KR) and Albertsons Cos. Inc. (NYSE: ACI) have agreed to sell 413 stores across 17 states and Washington D.C. as part of the $24.6 billion merger between the two grocery giants. The buyer is C&S Wholesale Grocers, a New Hampshire-based grocery supply company overseeing brands including Piggly Wiggly and Grand Union. According to multiple news outlets including USA Today and Crain’s, the sales price is roughly $1.9 billion. In addition to the 400-plus grocery stores, C&S will also acquire eight distribution centers and two office properties …

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Gateway Marketplace
FinanceIdahoNews

Wood Investments Cos. Secures $39.1 Million Refinancing for Two Shopping Centers in Metro Boise

by Hayden Spiess

Meridian, Idaho — Wood Investments Cos. has secured refinancing totaling $39.1 million for two shopping centers located in Meridian, roughly 11 miles outside Boise. The first shopping center, Gateway Marketplace, is leased to tenants including a 42,212-square-foot PGA Tour Superstore, Trader Joe’s, Mecca Gym, Land Ocean, Chili’s, Le Peep, Mathnasium and Orange Theory Fitness. Wood acquired the property in 2021. Tim Winton of Keystone Mortgage Corp. arranged a $16.5 million permanent loan through Voya Investment Management for the 135,732-square-foot property.  The second shopping center, CentrePoint Marketplace, totals 197,288 square feet and …

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IdahoInvestment salesNews

Kidder Matthews Brokers Sale of 139,064-Square-Foot Shopping Center in Pocatello, Idaho

by Hayden Spiess

Pocatello, Idaho — Kidder Matthews has brokered the sale of Pocatello Square, a 138,064-square-foot shopping center located in Pocatello. Tenants at the property, which was built in 2006 and fully leased at the time of sale, include Dick’s Sporting Goods, Grocery Outlet, Ross Dress for Less, JOANN Fabric and Crafts and Old Navy. Mike King, Erik Swanson, Darren Tappen, Peter Beauchamp and Nathan Thinnes of Kidder Matthews represented the seller, CWCapital, in the transaction. An undisclosed buyer purchased the center through CWCapital’s online auction platform, RI Marketplace. 

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IdahoLeasingNews

Wood Investments Adds 42,212-Square-Foot PGA Tour Superstore to Shopping Center in Metro Boise

by Hayden Spiess

Meridian, Idaho — Wood Investments Cos. has announced the opening of a 42,212-square-foot PGA Tour Superstore at Gateway Marketplace, a 135,732-square-foot retail center in the Boise suburb of Meridian. The store now leases a space formerly occupied by Rosauers grocery store. Other tenants at the center include Trader Joe’s, Mecca Gym, Land Ocean, Chili’s Grill & Bar, Le Peep, Mathnasium and Orange Theory. Andrea Nilson, LeAnn Hume, Travis Dunn, Julie Kissler and Braydon Torres of Cushman & Wakefield handle leasing at the property. Stuart Thain of Colliers represented the tenant …

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Grocery-anchoredIdahoLeasingNews

Wood Investments Cos. Adds Three Tenants to Canyon Park West in Twin Falls, Idaho

by Hayden Spiess

Twin Falls, Idaho — Wood Investments Cos. has announced the addition of three new tenants to Canyon Park West, a 160,140-square-foot retail center located in Twin Falls. Natural Grocers will open a 20,000-square-foot store at the property this fall. Additionally, Ashley HomeStore and Carter’s have signed leases totaling 18,000 and 4,084 square feet, respectively, and are now open at the center.

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IdahoInvestment salesNews

Marcus & Millichap Arranges Sale of 105,406-Square-Foot Shopping Center in Northwest Idaho

by Hayden Spiess

Coeur d’Alene, Idaho — Marcus & Millichap has arranged the sale of Ironwood Square, a 105,406-square-foot shopping center located in Coeur d’Alene in northwest Idaho. Staples and Rite Aid anchor the property, which was 96.2 percent occupied at the time of sale. Other tenants at the center include Holiday’s Hallmark, Wells Fargo, Tesoro Fuel Center, Beyoutiful Hot Yoga and Norco Medical. Kobe Furqueron of Marcus & Millichap represented the seller, an entity doing business as Ironwood Partners LLC, in the transaction. Allan Friedman of Westlake Associates procured the buyer, an …

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IdahoInvestment salesNet leaseNews

Hanley Arranges Sale of 4,200-Square-Foot Single Tenant Retail Property in Metro Boise

by Hayden Spiess

Meridian, Idaho — Hanley Investment Group Real Estate Advisors has arranged the sale of a newly constructed 4,200-square-foot retail building located in Meridian, roughly 11 miles west of Boise. The single-tenant property is occupied by Heartland Dental, operating as Dental Care at Verona, on a triple-net-lease basis. Jeff Lefko and Bill Asher of Hanley, in association with ParaSell Inc., represented the buyer, a private investor, in the 1031 exchange transaction. Andrea Nilson of Cushman & Wakefield represented the seller and developer, Northwest Development Group.

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Company newsIdahoNewsOhio

Kroger to Acquire Albertsons in $24.6 Billion Merger of Grocery Giants

by Hayden Spiess

Cincinnati and Boise, Idaho — Kroger Co. (NYSE: KR) and Albertsons Cos. Inc. (NYSE: ACI) have agreed to a merger in which Kroger will acquire all outstanding shares of Albertsons’ common and preferred stock for an estimated total consideration of $34.10 per share, or a total enterprise value of approximately $24.6 billion. The deal includes the assumption of $4.7 billion of Albertsons’ net debt. Both company’s boards of directors unanimously approved the agreement. The purchase price represents an approximately 32.8 percent premium to the closing price of ACI stock on …

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Meridian retail
FinanceIdahoNews

PSRS Secures $4.6 Million Refinancing for Two Retail Properties in Metro Boise

by Julia Sanders

Meridian, Idaho — PSRS has secured a $4.6 million refinancing for Gramercy and Mason Creek Retail, two retail properties in Meridian, about 10 miles from Boise. Kostas Kavayiotidis and Jacob Lee of PSRS arranged the 65 percent loan-to-value, non-recourse loan on behalf of an undisclosed borrower. The financing features a 10-year term and 30-year amortization schedule. The properties consist of four retail buildings featuring 14 units across 27,022 square feet of space. All buildings were fully occupied at the time of financing by a mix of restaurants, local and national …

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