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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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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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IdahoInvestment salesNews

Wood Investments Cos. Acquires CentrePoint Marketplace in Meridian, Idaho for $35 Million

by Julia Sanders

Meridian, Idaho — Wood Investment Cos. Inc. has acquired CentrePoint Marketplace 197,288-square-foot shopping center in Meridian, for $35 million. Built in 2007, CentrePoint Marketplace is located on 19.3 acres at 3319 N. Eagle Road at the intersection of East Ustick Road and Eagle Road. The property is fully leased to tenants including Kohl’s, Dick’s Sporting Goods, Walgreens, Qdoba Mexican Eats, Panera Bread and Wingers Restaurant & Alehouse. Chad Moore of Mountain West Commercial Real Estate represented Wood Investments Cos. in the acquisition of the center from Centrepoint Marketplace LLC, a …

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FinanceIdahoNewsUtahWashington

JLL Capital Markets Arranges $274.4 Million Refinancing for Six-Property West Coast Retail Portfolio

by Katie Sloan

Seattle; Boise, Idaho; and Salt Lake City — JLL Capital Markets has secured $274.4 million in financing for a six-property portfolio of core-quality retail centers totaling 2.7 million square feet across Seattle, Boise and Salt Lake City. The borrower is a joint venture between CenterCal Properties, a large pension fund and its advisors Principal and PCCP. The financing includes five separate 10-year, fixed-rate, non-recourse CMBS loans provided by JP Morgan Chase. Loan proceeds were used to retire existing debt and rebalance leverage across the portfolio. The portfolio consists of four grocery-anchored shopping centers, one power …

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DevelopmentIdahoNewsRetailers

ShowBiz Cinemas to Develop Entertainment Center in Idaho Falls, Idaho

by Alex Tostado

Idaho Falls, Idaho — ShowBiz Cinemas plans to develop one of its Bowling, Movies and More! entertainment centers at Jackson Hole Junction in Idaho Falls. This location will be ShowBiz Cinemas’ first complex in Idaho; the company currently operates locations in Texas, Oklahoma and Florida. Slated to open in December, the entertainment center will be located at Sunnyside Road #116 Exit off Interstate 15. Construction is currently underway, with the official groundbreaking ceremony scheduled for Feb. 27. Bowling, Movies and More! entertainment center at Jackson Hole Junction will feature 14 …

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IdahoInvestment salesNewsRetailers

Geronimo Divests of Two-Property Retail Asset in Idaho for $50.9 Million

by Alex Tostado

Twin Falls, Idaho — Geronimo has completed the sale of Canyon Park East and Canyon Park West, a two-property retail asset located in Twin Falls. Wood Investments Cos. acquired the asset for $50.9 million. Located at 2068 Bridgeview Blvd. and 1945 Fillmore St., the properties were 100 percent leased at the time of sale. Current tenants include Ross Dress for Less, Ulta Beauty, Bed Bath & Beyond, Petco, Dick’s Sporting Goods, HomeGoods, TJ Maxx, Best Buy, Michaels, Sportsman’s Warehouse and Famous Footwear. Paul Sleeth, Billy Sleeth and Patrick Allen of …

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