Alturas is pleased to welcome Consign Furniture to Idaho. After several months of preparation and renovation, the 43,000-square-foot store at 1550 South Tech Lane in Meridian is now open.
Consign Furniture, a family-owned business, started in 2008 in an 8,000-square-foot shop in Reno, Nevada. The original staff started with Alan Rock and Remington Rock, along with two employees. Today, they have three locations and employ more than 50 full-time and 10 part-time employees.
“The Treasury Valley is growing so fast, it is a natural fit for us,” said owner Alan Rock. Consign Furniture owns two of the largest furniture consignment stores in the nation, one in Reno and the other in Liberty Lake, Washington. The Meridian store has the potential to expand and become the largest location of the three.
Alturas acquired 1550 Tech Lane in July of 2017 and has repositioned the centrally located and highly visible property. Alturas has a tenant-focused approach and works diligently to ensure its tenant partners like Consign Furniture are successful and have the real estate they need to achieve their operational goals.
“This transaction was complicated with many moving pieces; we are grateful to be working with Alan, Dave Martinez, the store manager, and their broker Sherry Schoen. Together we were able to create a win-win solution,” said Travis Barney, President of Alturas Capital Partners. “We are thrilled to be working with Consign and look forward to many years of mutual success.”
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.