Alturas acquires Office Building: 1444 Entertainment Ave. ID
Written by Travis Barney | March 14, 2017
Alturas Capital has added a high-profile Boise building to its portfolio. The building, located at 1444 Entertainment, sits near the intersection of Overland and Cole, and is just feet from Interstate 84.
The building was constructed in 2006 and includes a total of 83,000 square feet of Class A office space.
At the time of acquisition, the property was only 67% occupied. Now, under Alturas’ ownership, the building is nearly 100% leased, adding new tenants like the Boise office of Truckstop.com, Clickbank and CBC Advisors to the tenant mix.
Alturas purchased the property at a cost which enables them to offer attractive lease terms to new tenants.
“This is exactly the type of core commercial real estate we desire to own as we grow,” Alturas Capital’s Managing Partner Blake Hansen said. “We are excited to add a quality asset of this nature to our portfolio.”
Drivers on I-84 will soon notice that the building will have a new outward identity with the addition of signage for Truckstop.com along the top of the building, as well as additional signage, landscaping and common area updates.
This acquisition is a prime example of the value-add properties that Alturas is adding to its portfolio across the Pacific Northwest and Intermountain West.
Alturas Capital Partners is a Boise, Idaho based commercial real estate investment company and manager of the Alturas Real Estate Fund. The company actively invests in office, industrial, retail, and multi-family properties with a focus on the Pacific Northwest and Intermountain West. Alturas owns properties in Idaho, Washington, Colorado, Utah and Arizona. Since 2009, the firm has made investments valued at over $250 million and is actively seeking to acquire additional assets in the Western United States.