Alturas Capital brings Décor Mfg., 85 jobs to Boise
Written by Travis Barney | April 19, 2016
BOISE, Idaho (April 19, 2016) — One of the largest real estate transactions to take place in Idaho in 2016 will transform a vacant industrial building in Boise into a new manufacturing plant designed to support the booming RV industry in the Treasure Valley. Westpark is a 120,000 square-foot facility located in a vibrant commercial area near the Boise Town Square Mall. Alturas Capital acquired the vacant property and negotiated the arrival of Décor Mfg. by Patrick Industries, expected to bring 85 new jobs to the area.
RV manufacturing is driving the Treasure Valley economy forward. In 2015, two major players in the industry announced new operations in the area in order to expand their reach to growing West Coast markets. Heartland Recreational Vehicles will open in Nampa, expected to employ 120 workers. Omega RVs in Caldwell will bring in 150 manufacturing jobs. Décor will hire 85 employees in 2016.
Décor makes laminated panels and wrapped moldings for recreational vehicles. In 2012, Patrick Industries acquired the Oregon-based manufacturing operation, “in order to establish a significant RV presence in the Northwest…the second largest RV producing geographic sector outside of the Midwest,” according to CEO Todd Cleveland. The new Décor plant at Westpark is now well-positioned to support the incoming industry in Idaho.
With a $6.2 million sale price and $3.14 million lease, Colliers International called the sale and immediate leasing of Westpark, “one of the largest deals done in Idaho in 2016,” and highlighted the transaction in their prestigious “Ring the Bell” showcase of significant real estate projects from around the country. Mike Peña, Bryant Jones and Lincoln Hagood with Colliers International brokered the transaction.
“This transaction represents how Alturas works with partners to create win-win situations,” said Blake Hansen, managing partner at Alturas Capital. “We were able to provide Décor with the right space, that fit their operation and expansion needs, for a very competitive lease rate.”
Décor is expected to begin operations later this year.
Westpark Industrial Update:
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 and retail properties, with a focus on the Pacific Northwest and Intermountain West. Alturas owns properties in Idaho, Washington, Arizona, Colorado and Utah. The Shops at Decker Lake is the 24th asset purchase for the Fund. 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. Learn more about our commercial real estate investment company.