HAYDEN, IDAHO — Blueprint Healthcare Real Estate Advisors has arranged the sale of Honeysuckle Place, a 39-unit assisted living community in Hayden, approximately 30 miles east of Spokane, Washington. A national owner-operator sold the property to a regional operator looking to expand into Idaho. The price was not disclosed. Originally built in 1996, the community was positioned as a value-add opportunity, though the seller did increase occupancy by 20 percent during the transaction process, according to Blueprint. The sale is part of a larger portfolio of strategic dispositions for the seller.
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 boutique bowling lanes, an arcade with redemption center, multiple party rooms, a lane-side café with expansive food and drink options, full bar, concessions area and eight movie auditoriums with recliner seating. Additionally, the development will feature a Superior Digital Experience auditorium with 4K digital laser projection, Dolby Atmos surround sound and a four-story, 70-foot-wide screen. ShowBiz Cinemas will anchor the 44-acre Jackson Hole Junction commercial project at Sunnyside Road and Interstate 15. The development will also feature retail, business, dining and hospitality space.
MERIDIAN, IDAHO — Avison Young has secured a $27.7 million loan to finance the construction of Summertown Apartments in Meridian, a suburb 12 miles west of Boise. The borrower is a joint venture between Phoenix Commercial Construction and 111 Capital. Jay Maddox and Peter Sherman of Avison Young Capital Markets Group arranged the loan, which a Los Angeles-based private lender provided. Located adjacent to the 58-acre Settler’s Park, Summertown will offer 190 units in a mix of two-story rowhouses and three-story garden-style apartments with gated front garden areas and enclosed garages. Situated on 5.8 acres, the property will feature resort-like amenities. Construction is slated to begin first-quarter 2020, with the first units delivered during summer 2020.
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 Newmark Knight Frank represented the seller in the deal.
NAMPA, IDAHO — Watchman Properties has acquired The Storage Co., a self-storage asset located in Nampa, approximately 20 miles west of Boise. A local family sold the property for an undisclosed price. Totaling 95,962 square feet, the self-storage facility features 555 rentable spaces, 408 drive-up, enclosed storage units and 147 outdoor parking spaces. The property also includes 4.5 acres of undeveloped land. Originally developed in 1957 for agricultural use, the asset was converted to self-storage space in 1995. The fully fenced and gated facility features keypad access and 24-hour video surveillance with off-site monitoring. Jordan Farrer and Adam Schlosser of The LeClaire Group of Marcus & Millichap represented the seller, while Andrew Helm, also of The LeClaire Group, procured the buyer in the transaction.
REXBURG, IDAHO — Blueprint Healthcare Real Estate Advisors has brokered the sale of Rexburg Care Center, a 119-bed skilled nursing facility in Rexburg, approximately 50 miles west of the Wyoming border. A publicly traded REIT and its operating partner sought to reduce their footprint in the state. The Ensign Group acquired the property for an undisclosed price. Rexburg Care Center is a 5-Star CMS rated facility situated adjacent to Brigham Young University-Idaho and less than 1.5 miles from the nearest regional hospital. With only one local competitor and the facility’s participation in the state’s Upper Payment Limit (UPL) supplemental payment program, Rexburg Care Center produced positive and increasing cash flow year-over-year. However, census remained at relatively low levels compared to industry averages. Blueprint positioned this as an upside opportunity, as only half of the facility’s operational capacity was being utilized, allowing for the potential introduction of lower acuity and/or specialty care services to boost overall census. Pennant Healthcare, Ensign’s portfolio company based in the Pacific Northwest, will operate the property following the sale. Christopher Hyldahl, Ben Firestone, Gideon Orion and Michael Segal facilitated the sale for Blueprint.
BOISE — The Opus Group has started construction of a mixed-use project in downtown Boise. River Caddis Development and Standard Capital, a division of Standard Cos., are developing the project. Slated for completion in summer 2021, the eight-story, 285,000-square-foot project will feature 173 apartments in a mix of micro, one- and two-bedroom floor plans, as well as 3,000 square feet of street-level retail space. The second, third and fourth floors will primarily serve as parking with 400 parking stalls and bike storage that will be privately managed by Ada County, Idaho. The remaining floors will consist of apartments, a fitness center and a landscaped rooftop courtyard. The development is located at the corner of South Third and West Myrtle streets. Opus is serving as design-builder, interior designer, architect and structural engineer of record. River Caddis and Standard Capital are co-developers and co-owners and GGLO is the design architect of the project.
NAMPA, IDAHO — Amazon has announced plans to open its first fulfillment center in Idaho, creating more than 1,000 full-time jobs. Located in Nampa, the 650,000-square-foot facility is slated to open in 2020. The fulfillment center is being developed in partnership with Pannotoni Development Co. Inc. Amazon plans to utilize the center to fulfill customer orders such as books, electronics and toys.
IDAHO FALLS, IDAHO — TYG Commercial Real Estate has negotiated the sale of Sand Creek Apartments, a 73-unit multifamily community located in Idaho Falls. A private investor sold the property to a Utah-based multifamily investor for an undisclosed price. Located at 1250 Ashment Ave., Sand Creek Apartments features 32 one-bedroom units, 17 two-bedroom apartments and 24 three-bedroom units. The property was built in 1978 and renovated in 2004. Richard Bird and Mathew Bird of TYG Commercial Real Estate represented the seller and buyer in the transaction.
KUNA, IDAHO — Marcus & Millichap’s LeClaire Group has arranged the sale of Kuna Self Storage, a self-storage facility in Kuna, a suburb of Boise. Messmer Properties sold the asset to an undisclosed buyer. The acquisition price was not released. Kuna Self Storage features 166 non-climate-controlled units, 15 rentable outdoor parking spaces, a fully fenced storage area and an on-site manager’s office. Jordan Farrer of Marcus & Millichap’s Salt Lake City office and Adam Schlosser of the firm’s Denver office, in cooperation with Paul Ryan of Marcus & Millichap’s Boise office, represented the seller in the deal.