Alturas Real Estate Fund Purchases Pad for 10,257 SF Retail Space at Eagle Island Marketplace in Meridian, ID
Written by Travis Barney | December 14, 2018
EAGLE, ID - December 13, 2018 - The Alturas Real Estate Fund has acquired a pad at Eagle Island Marketplace in Eagle with plans to develop it into a 10,257 square foot strip retail center. The new shopping center is substantially pre-leased to Boise Fry Company, Palm Beach Tan, and Profile by Sanford with one 2,900 square foot space still available.
The project is currently in the permitting process with the City of Eagle with plans to break ground, weather permitting, in the spring of 2019. Construction is anticipated to take approximately six months with an expected completion by late summer or early fall of 2019.
Eagle Island Marketplace is a grocery-anchored shopping center located at the corner of Chinden Blvd and Linder Rd in the under-served North Meridian and Eagle markets directly in the residential growth path for those expanding communities.
“We are excited to be working with tenant partners who want to bring their businesses to this thriving and growing part of the Boise valley.” says Travis Barney, President of Alturas Capital Partners, “We are always looking for opportunities to provide great retail space for our tenant partners in under-served markets.”
Sherry Schoen of Newmark Grubb ACRES worked with Alturas Capital Partners to acquire the property and represented Palm Beach Tan. Mike Erkmann of NAI Select represented Profile by Sanford while Mike Christensen of Colliers International represented Boise Fry Company.
Schoen continues to represent the Alturas on the available 2,900 square foot end-cap space.
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.