Spokane Journal of Business

Riverstone Village retail store space now fully leased

All 160 acres at Cd’A site either bought or spoken for

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-—Idaho Retail LLC
With negotiations nearly complete for the last available retail space at the Village at Riverstone, the retail center is fully leased for the first time.

There’s no space left to lease at the Riverstone Village retail center in Coeur d’Alene, and all of the land in the surrounding 160-acre Riverstone development is spoken for, says a commercial real estate broker involved in many of the recent transactions there.

The broker, Chris Schreiber, of the Coeur d’Alene office of Spokane-based Kiemle & Hagood Co., says the brokerage is handling final stages of lease negotiations for the last 1,200 square feet of retail space available in the Village at Riverstone.

“In the last 12 months, there’s been a ton of interest and a good mix of tenant types,” Schreiber says.

Recent tenants include Spokane Valley-based Empire Eye Physicians PS; Venia PLLC, of Coeur d’Alene; and Splendiferous LLC, of Coeur d’Alene. Kiemle & Hagood Co. handled the transactions on behalf of the landlord, Idaho Retail LLC.

Empire Eye Physicians, an eye clinic, occupies 2,700 square feet of space at 2175 N. Main.

Venia, an aesthetics and age-management clinic, occupies 3,700 square feet of space at 2109 N. Main.

Splendiferous, a toy store, will open soon in 1,300 square feet of space at 2061 N. Main, Schreiber says.

Main Street runs through the center of the Village at Riverstone, which is the retail heart of the overall Riverstone development, northwest of downtown Coeur d’Alene.

It might not be long before the vacant commercial parcels in Riverstone are developed, Schreiber says.

“There’s no land left,” he says. “Everything in here has been sold, is in escrow, or is otherwise spoken for.”

Riverstone began to take shape after Spokane developer John Stone bought the former W-I Forest Products mill site 18 years ago, although portions of the development struggled to survive a Great Recession-related real estate crash a decade later.

Office & Warehouse

Spokane Conservation District, a state agency governed by a local board, has bought for $1.3 million 49 acres of land, including a 7,000-square-foot office building formerly occupied by Spokane Rock Products at 4418 E. Eighth, where the district plans to capture stormwater runoff, restore wildlife habitat, and eventually move its offices. Craig Hunter and Rob Kannapien, both of Coldwell Banker Commercial Schneidmiller Realty, handled the transaction.

Orgill Inc., the Memphis, Tenn.-based hard goods distribution company that operates a big regional distribution center in Post Falls, has leased a 19,800-square-foot warehouse building at 500 W. Dalton, in Coeur d’Alene. Craig Hunter and Rob Kannapien, both of Coldwell Banker Commercial Schneidmiller Realty, handled the transaction.

Investment & Development

Beckenhauer Properties LLC, of Reedley, Calif., has bought for future development three 5-acre lots in the Bighorn Industrial Park, near the northwest corner of Poleline Avenue and Pleasant View Road, in Post Falls. Craig Hunter and Rob Kannapien, both of Coldwell Banker Commercial Schneidmiller Realty, handled the transaction.

MLR Enterprises LP, of Bellevue, has bought as an investment 4.4 acres of vacant land zoned for light-industrial use at 4020 E. Rowan. Bryan Walker and Jim Orcutt, both of NAI Black, handled the transaction.

Plan B Office LLC, of Wyoming, has bought as an investment two ground-floor retail units totaling 5,000 square feet in a multistory building at 401 W. First. Chad Carper, Colin Conway, and Steve McIntosh, all of Kiemle & Hagood Co., handled the transaction.

Retail

Inland Northwax Inc., the Coeur d’Alene-based franchisee for Aventura Fla.-based hair-removal salon chain European Wax Center, has leased 1,900 square feet of space in a multitenant retail center at 506 N. Sullivan. Stephen Pohl and Drew Ulrick, both of NAI Black, handled the transaction.

Fast Cash 4 Cards Idaho Inc., a Spokane-based affiliate of Phoenix-based aftermarket gift card buyer and seller Fast Cash 4 Cards LLC, has leased 800 square feet of space in the Ironwood Square retail center at 212 W. Ironwood Drive in Coeur d’Alene. Colin Conway, Chad Carper, and Casey Brazil, all of Kiemle & Hagood Co., and Ryan Oberg, of Goodale & Barbieri Co., handled the transaction.

Mike McLean
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Reporter Mike McLean covers real estate and construction at the Journal of Business. A multipurpose fisherman and vintage record album aficionado, Mike has worked for the Journal since 2006.

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