Alturas Capital Partners Reposition Nampa, ID Property
Written by Travis Barney | March 16, 2017
The team at Alturas Capital recently completed the repositioning of 1124 Caldwell Blvd. in Nampa, ID.
Despite a prime location on a hard corner on the Nampa-Caldwell Blvd., within blocks of destinations like Karcher Mall, Lowes and WinCo Foods, the long term tenant was struggling, the property had a below market lease and was in need of additional investment.
In October 2015, Alturas purchased the 2,646 square foot building and began the transformation process.
In early 2016, Alturas came to terms with the new tenant – the popular regional breakfast and lunch cafe The Griddle. The Nampa location will be the 4th location in the Treasure Valley for the Griddle.
Working with the owners of the Griddle, Alturas completed a full remodel and revamp of the building inside and out, giving The Griddle team a warm, inviting new restaurant as they expand into Canyon County.
The Griddle has a reputation for doing a brisk business at its other locations around the Boise metro area and is having great success in their new location since they opened earlier this year.
“We were able to find a great property and we knew with our expertise and relationships we could add value to the asset,” Alturas Capital Managing Partner Blake Hansen said. “The team at Alturas worked together to bring new life into this property, creating the foundation of a long, successful partnership with the Griddle.”
See recent coverage of The Griddle’s expansion in the Idaho Press Tribune. You can also find them on Twitter or Facebook.
Read more: The Griddle is coming to Nampa – TheGriddle.com.
1124 Caldwell Update:
Alturas Sells 1124 Caldwell Blvd
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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.