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2005 : CHICAGO-BASED BAUM BROTHERS ACQUIRES REGIONAL MALL IN NAMPA, IDAHO 545,000-SF Karcher Mall Anchored by Macy's and Ross Dress for Less June 24, 2005 Baum Brothers, L.L.C. – an award-winning commercial and residential development firm based in Chicago – has acquired the 545,000-square-foot Karcher Mall in Nampa, Idaho. Located at 1509 Caldwell Blvd., it was purchased for an undisclosed price from Lehman Brothers. Karcher Mall is anchored by Macy's and Ross Dress for Less, with in-line tenants including Bath & Body Works, Big 5 Sporting Goods and JoAnn Fabrics. It has the distinction of being Idaho's oldest shopping center, having been developed in phases between 1969 and 1973. Since that time, the mall has undergone a series of renovations with additional improvements being slated by the new owners. "We have worked on commercial projects in the Boise area for eight years. The opportunity to purchase Karcher Mall was too good to pass up," said Douglas Baum, principal of Baum Brothers, L.L.C. "With construction of the new Karcher Interchange underway and Nampa's continued growth, we see tremendous potential for Karcher Mall." Negotiations are already underway to fill the mall's third anchor tenant position as well as available in-line space. The center is situated in a high exposure location with easy access to I-84 and other main roads. |
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1030 W. Chicago Avenue :: Suite 200 :: Chicago, IL :: 60642 :: P: 312.666.3000 :: F: 312.666.7970 :: info@baumrealty.com |
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