Marcus & Millichap : Brokers Shopping Center Sale in Northwest Idaho
January 27, 2023 at 04:44 pm EST
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Marcus & Millichap Brokers Shopping Center Sale in Northwest Idaho
January 27, 2023
COEUR D'ALENE, Idaho, Jan. 27, 2023 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Ironwood Square, a 105,406-square-foot shopping center in Coeur d'Alene, Idaho.
"Anchored by Staples and Rite Aid, which have extended their leases by seven and 10 years respectively, Ironwood Square was 96.2% occupied at the time of the sale," said Kobe Furqueron of Marcus & Millichap's Salt Lake City office. "The acquisition provides our buyer with a great opportunity to add value by leasing the two vacant units." Furqueron represented the seller, Ironwood Partners LLC. Allan Friedman of Westlake Associates procured the buyer, EMES Ironwood LLC. Adam Lewis, vice president and regional manager is Marcus & Millichap's broker of record in Idaho.
The shopping center is across the street from the region's largest employer, the Kootenai County Medical Center. Access to Interstate 90 and U.S. Highway 95 is nearby and over 32,000 cars pass by the property every day. Spokane, Washington is approximately 40 minutes away. Shadow-anchored by Albertsons, Ironwood Square's tenants include florist and gift shop Holiday's Hallmark, a Wells Fargo bank, Tesoro Fuel Center, Beyoutiful Hot Yoga and Norco Medical.
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About Marcus & Millichap (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on 27 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 January 2023 21:43:02 UTC.
Marcus & Millichap, Inc. is a brokerage company. The Company is specialized in commercial real estate investment sales, financing services, research, and advisory services. The Company also offers market research, consulting, and advisory services to its clients. The Company offers services to its clients by underwriting, marketing, selling, and financing commercial real estate properties in a manner that maximizes value for sellers, provides buyers with a diverse inventory of commercial properties, and secures competitive financing from lenders for borrowers. The Company divides its commercial real estate into four market segments: properties, private client market, middle market, and larger transaction market. The Company serves clients with one property, multiple properties, and large investment portfolios. The Companyâs investment brokerage and financing professionals serve private clients within the private client market segment.
MARCUS & MILLICHAP, INC. 
