Cushman & Wakefield The Gateway Marketplace shopping center in Idaho has executed new leases with PGA TOUR Superstore and Chicago Fire Pizza in transactions brokered by Cushman & Wakefield’s retail team.
Owned by Orange County, CA-based Wood Investments Companies, Inc., the 135,732-square-foot asset is located at one of the busiest intersections in the city of Meridian, a suburb of the state capital, Boise, and co-anchored by Trader Joe’s and consists of premier Class A retail, shop, and restaurant space.
The retail destination is strategically positioned at the southeast corner of Eagle and Ustick roads. PGA TOUR Superstore signed a lease for 42,212 sf of anchor space in the middle of the property and Chicago Fire Pizza leased 5,994 sf of restaurant pad space that also includes a patio dining area. The pair of leases increase the center’s occupancy to 100% of the existing space.
The Cushman & Wakefield retail broker team based in Boise comprising Andrea Nilson, Leann Hume, CCIM, CLS, CRRP, Sara Shropshire, CRRP, Travis Dunn, Julie Kissler, and Braydon Torres handle Project Leasing for Gateway Marketplace, and led landlord negotiations for the PGA TOUR, Chicago Fire Pizza and the majority of all other leases currently in place at the center.
The two new tenants add to the ongoing leasing success Gateway Marketplace has enjoyed since Wood Investments became directly involved with the project, including its active role in tenant negotiations—together with the prior ownership—during its due diligence period prior to officially acquiring the property in November 2021. The center’s occupancy was 41% in the fall of 2021. Since then, the project has signed more than 80,000 sf of new leases with five tenants representing a variety of popular retailers that also feature fitness brand Mecca Gym (23,336 sf), steak and seafood restaurant Land Ocean Restaurant (7,341 sf), and trendy womenswear chain Apricot Lane Boutique (1,357 sf).
Greg Vujnov, COO , Wood Investments Companies, Inc, says: “We are thrilled by the resurgence of activity we’ve experienced and the work of our leasing team at Gateway Marketplace this past year, and whereby adding these two really great, high-quality brands. These signings also exemplify how brick and mortar retail is bouncing back through the pandemic, and that retail is again active in the Boise Metro.
“At the pace of new leasing we’ve secured at the project, we are bringing the center to 100% overall occupancy before the end of 2022.
“Located at the hard corner of two major intersections at the heart of the Boise Metro area, Gateway Marketplace provides high visibility and prime frontage for both tenants and guests. The project is also recognized as one of the best locations in the Treasure Valley area.”
Gateway Marketplace is encompassed by numerous national and regional restaurants and is surrounded by many well-known national and regional big box retailers and businesses. There are also schools, parks, financial institutions, local businesses, and other complementary retail services located nearby.
The location also offers solid traffic flow and draws from the surrounding businesses and residential subdivisions. The center also features a large parking area with several convenient access points.
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