Benjamin  Widmyer  Broker  Coldwell  Banker  Commercial  Schneidmiller      Owner  Widmyer  Corpora7on    

Real  Estate  Development  and  Property  Management  

Outline

• Retail  

• Office  

• Land  

• Industrial  

• Forecast  &  Outlook  

Kootenai County Taxable Sales

0  

200  

400  

600  

800  

1,000  

1,200  

1,400  

1,600  

2005        2006      2007        2008      2009      2010        2011        2012        2013      2014        2015          

Retail Vacancy

0%  

5%  

10%  

15%  

20%  

25%  

Coeur  d'  Alene   Hayden   Post  Falls   Rathdrum  

2010   2011   2012   2013   2014   2015  

Retail Vacancy

Shopping  Center  

SF  Vacant/  Vacancy  Rate  

Lease  Rate  

Ironwood  Square  

15,589  /  19%   $18  PSF  NNN  

Prairie  Shopping  Center  

34,045  /  22%   $16  PSF  NNN  

Silver  Lake  Mall   26,004  /  8%   Not  Reported  

$0  

$2  

$4  

$6  

$8  

$10  

$12  

$14  

Coeur  d'  Alene   Hayden   Post  Falls   Rathdrum  

2010   2011   2012   2013   2014   2015  

Average Retail Rental Rate  $/SF/Year  

Sale Comps

Address   704  E    Sherman  Coeur  d  Alene  

309  E  Sherman  Coeur  d  Alene  

313-­‐315  E  Sherman    Coeur  d  Alene  

310  N  4th  St  Coeur  d  Alene  

Sale  Date   10/12/15   10/01/15   4/17/15   9/25/15  

Price   $1,200,000   $560,000   $1,150,000   $360,000  

Square  Feet  

5,332  One  level  

5,262        ½  Basement  

9,096    ½  Basement  

7  ,650    1/3  Basement  

Price/PSF   $225.06   $106.42   $126.43   $47.06  

Panera Bread Prairie Shopping Center, Hayden

Anthony’s 1926 W Riverstone Dr, CDA

Chipotle 305 W Appleway, CDA

Cracker Barrel Ramsey Crossing, CDA

Retail Center 3095 Mullan Ave, Post Falls

Downtown Office

Aspen Homes

Pinkerton Headquarters

Kootenai Health Hospital Expansion

Kootenai Clinic Post Falls Expansion

Tenant Relocation and Expansion

Office Vacancy  

0.00%  

2.00%  

4.00%  

6.00%  

8.00%  

10.00%  

12.00%  

14.00%  

16.00%  

CDA   Hayden   Post  Falls  2012   2013   2014   2015  

Office Average Rental Rate  

 $-­‐        

 $2.00    

 $4.00    

 $6.00    

 $8.00    

 $10.00    

 $12.00    

 $14.00    

 $16.00    

 $18.00    

 $20.00    

CDA   Hayden   Post  Falls  

2012   2013   2014   2015  

$0  

$5,000,000  

$10,000,000  

$15,000,000  

$20,000,000  

$25,000,000  

$30,000,000  

$35,000,000  

$40,000,000  

$45,000,000  

$50,000,000  

$55,000,000  

0  

10  

20  

30  

40  

50  

60  

70  

80  

90  

100  

110  

120  

130  

140  

150  

160  

2005   2006   2007   2008   2009   2010   2011   2012   2013   2014   2015  

Sold  Volum

e  

Number  of  Sold  Lis7ngs   Sold  Volume  

*As  Reported  to  the  CDA  Mul>ple  Lis>ng  Service  

$53m  

$1.5m  $5.1m  

Num

ber  o

f  Lis>n

gs  

Commercial Land Sales

2014-2015 Closed Land Transactions

•   SE  Corner  of  Sherman  Avenue  &  6th  Street  

• 0.48  Acres  Development  Land  

• $1,000,000    ($47/sf)  • Zoned  Downtown  Core  

• Tenta>ve  plans  for  mixed-­‐use  development  

Seltice Way- East of Atlas Road

• 4.6  Acres    • Zoned  C-­‐17  • Residen>al  Development  

Canfield Ave. & Pinegrove Dr.

• 1.2  Acre  • Zoned  C-­‐17L  • Mul>-­‐Family  Development  

PINEG

ROVE

 CANF

IELD  

Post Falls Medical Land Sales

•  3  Reported  Sales  •  5  Acres  

0

2

4

6

8

10

12

14

Coeur d'Alene Hayden Post Falls Rathdrum

5.91

7.93 7.76

13.69

6.57 6.94

4.42

8.42

4.92

3.33

5.07

8.5 2013

2014

2015

KOOTENAI COUNTY INDUSTRIAL VACANCY

•  565 Properties Surveyed •  6.3 Million Square Feet

•  305,000 Square Feet Vacant •  Average Vacancy Rate 4.86%

Source: Valbridge

Units Price PSF

15

$70.94

24

$60.55 2014 2015

INDUSTRIAL BUILDINGS

Source:  CdA  MLS  

CROFFOOT PARK

Multi Family

CdA AIRPORT

Indu

stria

l

Com

mer

cial

New Odom Site

Industrial

New Convenience Store

15 Acres Warren K Expansion

Ram

sey

Bypa

ss

Ramsey Bypass

The Odom Corp. expects to move its North Idaho operations in the spring to

a new distribution center, illustrated here

Source: Spokane Journal of Business

POST FALLS

OUTLET MALL

Plea

sant

Vie

w R

oad

Riverbend Commerce

Park

PLEA

SAN

T VI

EW R

OA

D

POLELINE AVENUE

38 LOT BIGHORN

INDUSTRIAL PARK

Strengths

• Solid  Vacancy  Rates  • Apartment  Market  • Industrial  Rental  Rates  • Investor  New  Construc7on  Low  • Absorp7on  of  Space  • Available  Capital  and  Low  Interest  Rates  

Weaknesses

• Stagnant  Rental  Rates  • Downtown  Office  • Post  Falls  Outlets  and  Larger  Retail  Centers  

• Quality  Investment  Sales  Inventory  Low  

Opportunities •  Industrial  Development  •  Class  A  Mul7family  •  New  Development  in  Winco  area,  Sel7ce  Way  and  North  of  the  Airport  and  East  Sherman  

•  Repurposed  Older  Buildings    in  Good  Loca7on  or  change  use  (Outlet  Mall)  

•  New  Larger  Companies  Coming  to  Kootenai  County  &  Con7nued  Growth  

Threats •  Rental  Growth  outpacing  Wage  Growth  •  Oversupply  of  Apartment  Market  •  Downturn  in  the  Economy    •  Loss  of  Construc7on  Jobs  •  Rising  Interest  Rates  

THANK YOU Benjamin  Widmyer  410  E.  Sherman  Ave    Suite  207  Coeur  d’  Alene,  ID  83814  208-­‐661-­‐6808  www.bwrealestatellc.com  www.widmyercommercial.com     Real  Estate  Development  and  

Property  Management