CCIM Team - Your Inland Northwest Commercial Specialists
Craig Hunter & Rob Kannapien specialize in all aspects of commercial real estate, including sales, leasing, consultation and commercial property management. If you are looking for professionals who will give you a complete understanding of the market generally and your individual needs specifically, you have landed on the right page.
Great article in this mornings Journal of Business
Health care, advanced manufacturing, and real estate are expected to remain steady growth industries in Kootenai County through 2016, sources there say.
Sam Wolkenhauer, Post Falls-based regional labor economist for the Idaho Department of Labor, says the employment growth is estimated at 1.8 percent to 2.6 percent in 2016, although he expects the unemployment rate to remain between 4 and 5 percent next year. The unemployment rate in Kootenai County was 4.8 percent in November.
Most employment growth will be through new hires entering the workforce, Wolkenhauer predicts.
The advanced manufacturing segment is showing robust employment growth. “We have a strong aerospace sector,” he says.
Health care is another growing employment sector, Wolkenhauer says, adding, “We have a large retirement population that generally demands more health care services.”
Steve Wilson, president and CEO of the Coeur d’Alene Chamber of Commerce, says the hospitality industry is seeing a strong number of pre-bookings, although the spring and summer weather also will have to cooperate for tourism dollars to exceed recent years.
“It will be difficult to repeat back-to-back years of outstanding weather that allowed an early start to the tourism season and lingered into the fall,” he says.
An anticipated major expansion of the Coeur d’Alene Resort could be a catalyst for additional construction activity in downtown Coeur d’Alene, Wilson says.
The latest design proposal submitted to the city of Coeur d’Alene envisions a 12-story, 166-room second tower at the hotel. Although no firm start or completion dates have been announced by the resort, Wilson says construction could get under way next year.
Tony Berns, executive director of Ignite CDA, which is the urban renewal agency for the city of Coeur d’Alene, says the $2 million first element of the city’s multiphase Four Corners master plan likely will be constructed in 2016. The project will include realigning Mullan Avenue from the west edge of downtown through the Fort Sherman grounds.
North Idaho College, Lewis-Clark State College, and the University of Idaho hope to firm up a $6 million funding package for a joint-use facility on the NIC campus near the west edge of the Four Corners area.
“It would be an economic entity for the next several decades,” Berns says of the planned facility.
The residential real estate market in Kootenai County has seen consistent strong growth in the last few years, and Kim Cooper, spokesman for the Coeur d’Alene Association of Realtors, predicts continued growth through the coming year.
“We’ve seen and will continue to see increases throughout the Multiple Listing Service,” says Cooper, who also is a broker at Select Brokers LLC, in Coeur d’Alene.
The number of homes sold through the Coeur d’Alene Association of Realtors MLS in the first 11 months of the year has jumped 19 percent compared with the year-earlier period, while the year-to-date $203,000 median sales price represents an 8 percent increase.
Shelly Enderud, Post Falls city administrator, says several factors could add horsepower to that city’s economic engine in 2016.
The recently opened Greenferry overpass at Interstate 90, which is a new north-south link in Post Falls, should provide a measurable boost in traffic for some businesses along Greensferry Road, Enderud says.
She predicts single-family and multifamily residential construction will remain strong through 2016.
In the first 11 months of 2015, Post Falls issued building permits for 400 dwelling units, including 226 single-family homes, up from 165 dwelling units, including 144 single-family homes, in all of 2014.
She says developers plan to construct multifamily housing projects in west Post Falls and near City Hall next year.
Draper, Utah-based Wadsworth Development Group, which owns 161 acres comprising the vacant land at the Pointe at Post Falls, is working with some large retailers and hopes to have contracts signed in 2016, with openings late next year or in 2017, Enderud says.
Medical facilities also are expanding in the Post Falls medical district along the Mullan Avenue-Polston Avenue corridor, where Kootenai Health is constructing a $10.5 million expansion and Northwest Specialty Hospital plans to begin constructing its second office building in 2016, Enderud says.
Great article in the Spokane Journal of Business Today!
Company starts $9.2 million project
By: Mike McLean, November 19th, 2015, Spokane Journal of Business
The Odom Corp., the big Bellevue-based wholesale beverage distributor, is erecting a 92,000-square-foot distribution center and warehouse in Hayden, where it plans to move its North Idaho operations, says Jerry Dexter, Odom’s Spokane-based senior vice president.
Dexter declines to disclose the dollar value of the facility. However, the building permit application on file with the city of Hayden lists the construction value at $9.2 million.
The new distribution center will be located at 12281 N. Warren, in northeast Hayden. The project site is on a 15-acre parcel of land that Odom real estate affiliate Odex North Idaho LLC acquired. It’s just northeast of the Coeur d’Alene Airport, on the west side of Warren Street, which is west of and mostly parallel to U.S. 95.
Commercial brokers Craig Hunter and Rob Kannapien, both of Coeur d’Alene-based Coldwell Banker Commercial Schneidmiller Realty, and Chris Schreiber, of Spokane-based Kiemle & Hagood Co., negotiated the real estate transaction.
Dexter says the project is scheduled to be completed next spring.
“The foundation is poured, and we think it will take about seven months to build,” he says.
Odom occupies about 60,000 square feet of leased space at its current North Idaho distribution facility, at 3858 N. Schreiber Way, in Coeur d’Alene.
“Our Idaho business is growing,” Dexter says. “The Coeur d’Alene space is at capacity, and there aren’t enough dock doors there for what our needs are.”
The Hayden center’s design will be similar in some respects to that of the company’s new West Plains facility, which opened last year, he says.
“It will be a tilt-up concrete building with attached offices on the front side,” Dexter says of the Hayden project. “Some large timbers will enhance the entrance and the design will have that Northwest feel to it.”
Odom opened its $20 million, 200,000-square-foot West Plains distribution center last year at 5810 W. Thorpe Road, replacing a nearby 100,000-square-foot leased facility.
Dexter says the new Hayden center isn’t expected to result in a net increase in employees, although he declines to say how many employees it will have.
Earlier this year, an Odom manager said about 100 company employees were based out of Coeur d’Alene.
At the time, the company also had 400 employees working in the Eastern Washington area served by its West Plains facility, including 150 who were based at that distribution center.
Concord, N.H.-based Design Group Facilities Solutions Inc. is the general contractor on the Hayden project, which the company also designed.
Design Group also designed and built Odom’s West Plains distribution center.
Dexter says Design Group is hiring local subcontractors, for the Hayden project.
Divcon Inc., a prominent Spokane Valley concrete contractor, will erect much of the structure, building permit application information shows.
Ruen-Yeager & Associates Inc., of Coeur d’Alene, is the civil engineer, and the Spokane office of Seattle-based DCI Engineers Inc. is the structural engineer.
Other subcontractors listed on the building permit application include mechanical contractor KTU of Spokane Inc. and excavation contractor Piersol Construction Inc., of Airway Heights.
Odom used the city of Hayden’s new same-day permitting process to get the project started, city records show. Odom submitted its building permit application on Sept. 30 and received site-plan and footings and foundation approval that day.
The project site is within Hayden’s designated industrial investment area, and is eligible for tax increment financing that would reimburse the developer over time for about $400,000 in public sewer infrastructure expenditures, city records show.
Odom distributes mostly adult beverages to grocery stores, restaurants, and convenience stores.
The company owns the distribution franchise here for MillerCoors, Pabst Brewing Co., and North American Breweries. Odom also distributes dozens of brands of craft brews, including beers produced by No-Li Brewhouse LLC., of Spokane, and Laughing Dog Brewing Inc., of Sandpoint.
Odom also handles more than 100 brands of imported beer, hard cider, other adult beverages, and soft drinks.
Companywide, Odom has 1,900 employees based at facilities in Washington, Idaho, Oregon, and Alaska. The company was founded in Alaska in 1934.
- See more at: http://www.spokanejournal.com/local-news/beverage-distributor-odom-plans-facility-in-hayden/#sthash.7BJJIyC9.dpuf
Developers aim to divide industrial land into 38 lots Spokane Journal of Business. By Mike McLean November 5th, 2015
Bighorn Farm LLC, of Spokane Valley, has bought 206 acres of land in unincorporated Kootenai County, near the north edge of Post Falls, and plans to develop an industrial park there, says George Lawrence, who co-owns Bighorn Farm with Rich Dahm.
Lawrence says Bighorn Farm will divide the park into 38 roughly 5-acre lots.
“The area is in need of some of that,” he says.
The property, located at the northwest corner of Poleline Avenue and Pleasant View Road, is zoned for industrial land use, Lawrence says.
“We’ve got a few manufacturers looking at it,” he says.
It’s too early to estimate the total value of the development, Lawrence says, although he asserts the land value alone likely will exceed $5 million when infrastructure is complete.
Bighorn Farm will sell some of the lots and will lease others, he says.
The developer also will build structures to suit buyers and tenants, or they can select their own contractors, Lawrence says.
The structures likely will range widely in size from 6,000 square feet to around 100,000 square feet, he says, adding, “We’re talking to a number of people about sizes.”
Bighorn Farm, which will act as its own contractor, plans to begin site work this fall and hopes to complete road and utility connections for some lots by next spring, Lawrence says.
“We’re going to try to market it before then,” he says of the industrial park development.
Dahm is a longtime Spokane real estate developer whose company, Summit Properties Inc., has been developing lots in the multiphase Morningside Heights subdivisions in south Spokane Valley for a number of years.
Lawrence is a principal of Consumer Auto Liquidators, an Airway Heights-based used-vehicle dealership. He says the Bighorn Farm venture is the first development that he and Dahm have owned jointly in Idaho.
Commercial real estate brokers Craig Hunter and Rob Kannapien, both of Coeur d’Alene-based Coldwell Banker Commercial Schneidmiller Realty, negotiated the real estate transaction.
“It took about a year to get it organized,” Lawrence says of the land buy.
Copeland sees increase in commercial design. Firm strives to continue founder’s 30-year legacy. LeAnn Bjerken November 5th, 2015
Copeland Architecture & Construction Inc. owners Bob Britton, Jeff Fountain, and Austin Dickey say the company, long known for its design of Spokane-area homes, is gradually becoming known for commercial design as well.
“In the last few years, more of our work has been commercial,” says Fountain. “It’s pretty exciting because Copeland used to be almost exclusively residential when Bob took over years ago. But we’ve always wanted to diversify, and commercial was one area we wanted to expand in.”
Founded in 1985 by Gerry Copeland, the company then was passed to Britton, who serves as company president as well as construction manager for home projects.
Fountain is the company’s vice president and manages residential design projects. He says Dickey brought commercial-project experience to the firm when he joined it in 2007.
“He’s a major part of how we’ve been able to go after more commercial work,” Fountain says.
Dickey oversees commercial design and oversees the company’s finances.
“I would say last year there was definitely an increase in commercial projects versus residential,” says Dickey.
Fountain says that in 2013 residential design made up 60 percent of company revenues and commercial design was 40 percent. However, for the last two years, those percentages have swapped.
“In 2014 and 2015, we have essentially flipped, and now commercial is at 60 percent and residential is at 40 percent of design revenue,” Fountain says.
Although the commercial work is growing, he says he still considers residential design and construction to be the company’s bread and butter.
The company had $2.3 million in gross revenue last year. Fountain says its design revenue, including both residential and commercial, is up more than 30 percent from a year ago and construction revenue, derived from projects in which it is acting as the general contractor, is up 40 percent.
“You have to keep in mind these numbers fluctuate, so we do have some ability to move around within the market,” Fountain says.
He says the company usually only constructs residential projects, although it has occasionally worked on commercial construction projects. The company builds both projects of its own design and some created by other architects. “That’s something we’ve only begun to do in the last few years,” says Fountain.
Copeland also has been expanding its geographical reach to include commercial projects in the Tri-Cities and Seattle areas, and residential projects as far west as Leavenworth.
“We’ve been getting more requests for design work in Central Washington, but North Idaho is also still very much a target area,” says Fountain.
In February of last year, the company moved to its current location at 121 W. Pacific, a 1,800-square-foot space which it designed.
“One of the owners of this building, C.K. Anderson, is a friend,” Fountain says. “He needed a tenant and kindly asked us if Copeland would like to design the building improvements.”
With this most recent move, he says Copeland is finally back in its old neighborhood, having begun in 1985 with offices at 216 W. Pacific. After 22 years, the company moved to the Schade Towers building, at 528 E. Spokane Falls Blvd., for seven years.
“There has been a lot of discussion in the community about how this area of town has been changing,” Fountain says. “We’re glad to be a part of it again.”
Some of the changes in the surrounding area are projects Copeland has been working on, like the Washington Cracker building, at 304 W. Pacific.
“That was a larger project at 40,000 square feet,” says Dickey. “But it was a lot of fun to work on. There is so much community interest and a cool mix of small business tenants moving in.”
In the last two years, the company has taken on more historic building renovations, and projects for local nonprofits such as Habitat for Humanity, Second Harvest Food Bank, and Spokane Public Radio.
“Second Harvest is an example of a nonprofit company we have done multiple projects with over the last four years,” Dickey says.
The three owners say Copeland also has been seeing a greater number of returning clients in both residential and commercial projects.
“We’ve seen almost half a dozen returning clients in just the last year,” says Fountain. “On the residential side, these are people who grew up in a Copeland house and now want us to create an addition, redesign, or remodel of the home.”
Britton agrees, saying, “One project leads into another, and it’s a good feeling to know they enjoy working with us.”
Copeland’s largest commercial design and remodel project to date has been the recent renovation project it did for Spokane Public Radio, renovating the old Fire Station No. 3 at 1229 N Monroe.
“It was a complicated project for many reasons,” says Fountain. “Firstly, it was a LEED (Leadership in Energy and Environmental Design) project as well as a historic building. Each of those types of projects have certain standards that have to be met. Secondly, the design had to take into account acoustics and broadcast sensitivity.”
“We needed an acoustical engineer to consult on that,” adds Dickey. “Although it was only about 11,000 square feet, there were a lot of technical things to consider that added to the complexity.” The project began in August of 2013 and was completed last month.
The company’s next large project will be assisting in the design and construction of cabins for the Sunrise Basin resort community that is being developed within the 49 Degrees North Ski area in Chewelah, Wash.
The Journal reported in August that John Eminger, the resort’s president and owner, had begun selling a mix of 35 single-family and multiunit residential lots near the base of its Sunrise quad chairlift. Construction on the first residential units in Aspen Glades is expected to begin in the spring of 2017.
Dickey says the company has been working on designs for single-family cabins to present to potential clients in the next year.
“We’re pretty excited,” he says.
Fountain says compared to most construction for the project, Copeland has more flexibility in designing the style of the cabins. “Things like townhomes and lodges all have similar styles and guidelines,” he explains. “We have more freedom than some of the larger projects that need consistent architecture.”
Fountain says so far Copeland will be working on residential builds for the project, but wouldn’t mind getting involved in future commercial development in the area.
“We’ve been invited to be involved because they see us as bringing our expertise in residential design and build,” says Fountain. “At the same time, it’s a huge project that will span years of work. We have time to grow into it, and perhaps get more involved on the commercial side.”
He says designers have met with prospective buyers and investors interested in the project several times to discuss what tenants might want to see there. “We’re just starting to bring in plans and models, so it’s getting more specific,” he says.
This year also marks Copeland’s 30th anniversary, one that its owners see as a continuing celebration.
“We feel like it’s both a 30-year anniversary for the company as well as the 10-year anniversary of when Bob took over ownership,” says Fountain.
Company founder Gerry Copeland passed away in 2010, which Fountain says was a tough year for the company.
“At that point we were still working to build back up after the recession,” he says. “But we’ve kept the Copeland name all these years because Gerry established such a good practice. Now, we really just want to see it keep going as well as it has been.”