BOISE, ID — August 14th, 2018 – The Alturas Real Estate Fund has acquired 5804 Fairview, a retail property in Boise, ID. The vacant 22,500 SF retail location will be leased by Spokane-based regional furniture retailer Wallaroo’s, making this store their second location in Idaho and first in the Treasure Valley.
The property is centrally located at the busy intersection of Fairview Avenue and Curtis Road. Fairview is a primary east/west retail corridor, and Curtis is one of the few north/south connections that crosses the Boise River.
“Approximately 60,000 vehicles pass through the intersection each day and the excellent access to downtown Boise and I-84 made this an attractive acquisition for us” said Travis Barney, President of Alturas Capital Partners. “Through our collaborative and hands-on approach with the brokerage community, we were able to find a tenant that could take advantage of the heavily trafficked intersection.”
Alturas worked with Sherry Schoen and her team at Newmark Grubb Acres on both the lease and sale transaction. The property was previously tenanted by Carol’s Design House, which operated from this location for the last 10 years.
This is the seventeenth commercial real estate acquisition for the Fund and tenth in the Treasure Valley. With this acquisition, Alturas has approximately $90 million in assets under management.
Alturas is a Boise, Idaho based commercial real estate investment company. The company actively invests in office, industrial and retail properties, with a focus on the Pacific Northwest and Intermountain West. Alturas manages several properties in Idaho, Washington, and Arizona. Since 2009, the firm has made investments valued at over $250 million and is actively seeking to acquire additional assets.