Outlet Mall Article

Embed Doc
Copy Link
Readcast
Collections

CommentGo Back

Download

Linda Ball

/

rckwriter@roadrunner.com

“It’s mostly empty,” said Merv Wylieof Seattle as he walked along theshops at the Post Falls Factory Outleton June 16.

June 28, 2009 in Idaho Voices

Outlet mall makeover

New mix could include offices

Tags:Chris Bell Coldwell Banker Schneidmiller Realty Mike King NAI Black Commercial Real Estate post falls outlets

Driving past what were once prosperous outlet stores,the Post Falls Factory outlets look more like aghost town.Mike King and Paul Bielec with Coldwell BankerSchneidmiller Realty recently took over marketing theportion of the campus owned by Cotter RanchProperties of Houston called the Post Falls FactoryStores, and are hopeful that by repositioning theproperty and offering “screaming deals,” they will attracttenants and bring the place back to life.“We’ve been working with a lot of start-ups,” King said. “We’ll do some good leasesfor people.”He said the owner is offering space at $10 a square foot annually – so for a basic 1,000-square-foot space, it would cost the tenant $10,000 a year plus utilities, insurance andupkeep for the common areas (similar to condo dues).King said there is approximately 58,150 square feet of space plus a 2,000-square-footarea that’s suitable for a restaurant or farmers market. Currently 17,000 square feet isoccupied. King and Bielec are open to offices, classroom space – true mixed use. Kingsaid there is even a turn-key beauty salon ready to go.King and Bielec recently attended the International Council of Shopping Centers meetingin Las Vegas to stir up interest in the building.“We do have some interest – we’re definitely working it,” King said. “It’s not going tohappen overnight.”Across Interstate 90, Coldwell Banker is also marketing Expo at Post Falls, and has sold10 acres to Love’s Travel Center, a chain of upscale grocery store and fueling stations.It’s currently in escrow, King said. Love’s, based in Oklahoma City, has 200 locations inmore than 30 states, and is expanding at a rate of about 15 stores per year.“Basically it’s a big travel center with food, gas, retail and various services,” King said.Chris Bell and Chris Siemens with NAI Black Commercial Real Estate Services have beenworking the balance of the outlet campus, called the North Idaho Outlets, for two years.Bell said the buildings are owned by a group of investors.“We’re trying to re-position the center and focus on the good work going on at The Pointeat Post Falls,” Bell said.The Pointe at Post Falls, also on the north side of Interstate 90, includes Cabelas’“destination store,” and negotiations are under way with Wal-Mart, Sam’s Cluband Lowe’s.

1 of 2

of 00

Leave a Comment