May

14

Jobs Plus Video

Filed Under Coeur d'Alene, Kootenai County, Local Market, Post Falls | Leave a Comment

Take a look at this video produced by Jobs Plus. It provides information on Coeur d’Alene, Post Falls and the Kootenai County area.

Mar

12

Sportsmans Warehouse Plans to Sell CDA Store

Filed Under Coeur d'Alene, Local Market | 1 Comment

From the Idaho Business Review:

Sportsmans Warehouse Holdings CEO Stuart Utgaard on March 10 announced that the Midvale, Utah-based outdoor retailer plans to liquidate 23 stores to reduce bank debt – including three stores in Idaho– and sell 15 stores to UFA Co-op.

The Nampa store, which opened in 2007, along with stores in Coeur d’Alene and Pocatello are expected to be closed within the next couple of months. Of the 23 stores nationwide to close, a majority is located in the East.

The Meridian and Idaho Falls stores are expected to remain open.

Sportsmans Warehouse to close 3 Idaho stores

3/13/09 Update:
According to the Sporstman’s Warehouse website, the Coeur d’Alene store and Spokane store are on the list of locations being sold to UFA Co-op.

15 stores are being sold to UFA Co-op.

  • Bend, OR
  • Bozeman, MT
  • Burlington, WA
  • Coeur d’Alene, ID
  • Fargo, ND
  • Federal Way, WA
  • Helena, MT
  • Kennewick, WA
  • Lacey, WA
  • Missoula, MT
  • Portland, OR
  • Salem, OR
  • Silverdale, WA
  • Spokane, WA
  • Vancouver, WA

Read more about UFA Co-Op at http://www.ufa.com/aboutUFA/aboutUFA.html

Feb

18

Kootenai County Retail Market Information

Filed Under Kootenai County, Local Market | Leave a Comment

Dani Bielec-Kramer from our team presented at the 2009 Spokane/Kootenai County Real Estate Market Forum. This year the event was hosted at the Coeur d’Alene Resort. Dani focused on the retail market in Kootenai County. You can view the information she presented below.

Dowload Kootenai County Retail Market Forum Slides

Nov

7

5 Real Estate Investment Strategies for Success in a Volatile Market

Filed Under Economy, Local Market, National Market | Leave a Comment

  1. Solutions Create Opportunity

    Solving problems for distressed investors will create prime investment opportunities.  Look for ways to provide workouts for distressed investments.  As loan terms mature, many properties will be unable to cover the debt service associated with new loans. Financing criteria has changed dramatically and will surprise many investors as they look to re-finance.  Large “vulture” funds are being formed for the sole purpose of raising capital to profit from distressed institutional grade investments.  On a smaller scale, attentive investors can capitalize on opportunities by providing solutions in their local market.

  2. Cash is King

    Investors who have been disciplined and kept a healthy amount of liquid assets are now in a favorable position.Kelly Hugh, a well respected real estate economist says “There is such a volume of capital out there. I have three pictures I use in my talks, one is of Niagara Falls, one is the Sahara Desert and the third is the Hoover Dam. The argument is that for a long time we had a Niagara of capital, now people think we have a Sahara but we don’t. It’s a Hoover Dam. It’s all sitting back there. The question is; when does it get released?”

    Those investors who can move quickly and provide interim resolutions will come out ahead

  3. Change Strategy from Growth Investing to Value Investing

    In recent years past, investors had a buffer that alleviated bad investment decisions.  Rent growth and appreciation seemed to remedy any ill-advised acquisitions.Now with rent growth and appreciation absent, property owners are forced to find new ways to produce the yield desired.  Strong asset management combined with tenant retention will help drive yield in existing properties.  New acquisition investments can take advantage of the upward trend in CAP rates.

  4. Avoid Lowering Rents

    Commercial real estate values are tied to the income the property produces.  As retailers are struggling we will see more and more vacancies in the market.  Existing property owners should strive to minimize down time and re-tenant quickly.  Up-front incentives such as free rent and tenant allowances will help entice new tenants while maintaining your property value for the long-term.

  5. “Buy into Fear, Sell into Greed”

    There is no arguing we are in a slowing market, however investors that seize the opportunity can turn this into a wealth-creation market. While the masses are standing on the sidelines there are unbelievable opportunities for a knowledgeable investor.

Jul

22

Keeping Nationwide Store Closures in Perspective

Filed Under Economy, Local Market, Statistics | Leave a Comment

The International Council of Shopping Centers estimates nationwide retail store closures will total 144,000 in 2007, a 7 percent increase from 2006.  Although this a large number, in 2006 123,000 new stores opened and 139,000 closed.  New store opening have helped soften the effects of nationwide store closures.

There is no arguing that retail is presently a troubled sector with consumer confidence dropping and consumer disposable spending in negative double digits for 50 straight weeks.  The confidence confidence index serves as an important bellwether of consumer spending, which accounts for two-thirds of the U.S. economy and an essential economic driver for the retail sector.

Nationwide retail properties reported a vacancy rate of 7.8 percent in the Reis Inc. second quarter 2008 survey.  Locally we have seen a number of store closures, but nothing close to other troubled markets around the United States.  Starbucks recently posted the final list of approximately 600 company-operated stores in 45 states scheduled to close beginning this month through next March.  Our MSA has only one store scheduled for closure, the Starbucks located off Market and Garland in Spokane.

Jun

27

Local Real Estate & Development News Roundup

Filed Under Coeur d'Alene, Kootenai County, Local Market, Local News, Project/Development News, Spokane | Leave a Comment

Deer Park looks to awaken – Spokane Business Journal

City approval of office tower is appealed – Spokane Business Journal

Big project planned in Rathdrum – Spokane Business Journal

Bankcda consolidating offices – CDA Press

Lounge aims to fill swanky void – Spokesman Review

Judge OKs county track purchase – Spokesman Review

Big projects eyed near raceway – Spokane Business Journal

Parker Toyota reconsiders expansion – Spokane Business Journal

Crown West plans project at SBIP, but sees slower growth – Spokane Business Journal

PARD will not take appeal to state supreme court – Daily Evergreen

Jun

3

Spokane Business Journal Real Estate News

Filed Under Local Market, Local News | Leave a Comment

Here are links to real estate & development news from the latest Spokane Journal of Business.

ALK-Abelló unit readies for growth

SRM buys, to redevelop Burgans site

Catholic Charities plans service center

Snap Fitness franchisees plan growth

Hampton Inn & Suites to rise in Spokane Valley

Two businesses plan to build near Esmeralda Golf Course

$3.7 million restaurant set in Valley

May

8

Avista Buys 3,200 Acres for Wind Farm

Filed Under Local Market | Leave a Comment

The Spokane Journal of Business is reporting that Avista has just tied up 3,200 acres near Rearden, Washington to build a wind farm. Here is the update from the Journal:

Breaking News
Avista ties up site to develop wind farm …
Avista Corp. said today it has acquired rights to to a site to develop a 50-megawatt, $120 million wind farm near Reardan, Wash. The 3,200-acre site is roughly four miles south of Reardan off of state Route 231, includes Magnuson and Hanley buttes, and mostly is farmland, Avista spokesman Hugh Imhof says. He says the company will lease the property from seven landowners, will order wind turbines for the project this year, and will build the wind farm in 2011. Avista says that because of the intermittent nature of wind, the project will generate an average of 15 megawatts of power, or enough to serve 11,250 homes, and it can carry the electricity on its own transmission system, which saves cost. Avista Chairman, President, and CEO Scott Morris says the wind farm will help Avista satisfy renewable resource requirements under Washington law. Imhof says the company, which plans to build or buy 300 megawatts of wind generation by 2017, is continuing to look for other wind-power sites, mostly near its own transmission system.

Apr

11

Industrial – Kootenai County Commercial Real Estate (5 of 5)

Filed Under Kootenai County, Local Market | Leave a Comment

Review

Job growth in Kootenai County manufacturing employment has driven high demand for this product type. Of the 2,215,420 square feet surveyed in Kootenai County, only 87,869 square feet is vacant (3.97%). The majority of the vacant space was found in smaller buildings with fewer than 3,000 square feet. These vacancies are due to substantial construction of small spaces over the last several years. Even with low vacancy, leasing rates have resisted upward movement and remain fairly static. Tepid rate trends have failed to keep pace with increased construction costs, which in-turn, have kept developers from building large speculative industrial space.

Over the past year, low interest rates and favorable owner-occupied financing have converted several leased industrial spaces to owner-user space. This shift could make room for additional lease space in the near future.

Industrial land rates in Hayden have edged higher than Post Falls. In Riverbend Commerce Park, offering rates are $4.00 to $4.50/sq. ft. Light industrial lots in EXPO at Post Falls range between $5.00 and $8.00/sq. ft for half to one-acre lots. Industrial land prices are slightly higher in parts of Kootenai County than Spokane County, with some asking prices above $10.00/sq. ft.

Forecast

Only a few new projects are proposed at this time. The Riverbend Commerce Park is currently finishing up two buildings with a combined total of approximately 87,000 square feet. The Park has a 43,000 square foot building slated for construction in the near future, but no formal decision has yet been made. Riverbend Commerce Park is moving forward on Phase 4 plans, with 24 lots ranging from 1.0 to 1.5 acres, of which several lots are currently pending sales.

Businesses looking for large spaces will need to consider build-to-suit options due to the lack of supply. The aforementioned static rental rates should begin trending upward to keep up with construction costs. The manufacturing employment underpinnings of the industrial market remain positive.

Furthermore, low vacancy rates and strong demand will create a healthy industrial market in 2008.

Industrial Vacancies
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Manufacturing Employment
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Apr

10

Recent Local Real Estate News Roundup

Filed Under Local Market, Local News | Leave a Comment

County top bidder on 300 acres at raceway auction – Spokesman Review

Article on Wallace, Idaho – New York Times

Landing marina nears completion – Spokesman Review

County halts Bayview restaurant remodel – Spokesman Review

Hayden Canyon developers try again – CDA Press

Owners seek to save course – CDA Press

Lithia Motors builds facility for dealership in Liberty Lake – Spokane Journal of Business

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