SEATTLE, September 9, 2005 – Meriwether Partners has acquired the 249,000 square-foot Market Street Warehouse in Boise, Idaho. Meriwether was represented by Steve Gray and Bob Runyan of RFR Properties and RFR Properties will handle the leasing of the property.
Market Street Warehouse, located at 4719 Market Street near the airport, was formerly the Associated Food Stores regional distribution facility. It is a single-story building that consists of 11,000 square feet of office, 60,000 square feet of refrigerated space, 30,000 square feet of freezer space and 148,000 square feet of dry warehouse space on 21.46 acres of land.
“We were attracted to this property because it is well built and well located”, said Rob MacAulay of Meriwether. “We are real believers in Boise, and we think the vacant warehouse space, which has over 30 foot ceilings, will lease quickly.”
This is Meriwether’s second acquisition in Boise. It acquired the Parkcenter Red Lion in July, 2005 and is in the process of converting it to a Marriott SpringHill Suites.
Meriwether Partners is a real estate investment firm with offices in Seattle and Portland. We form partnerships to acquire and manage real estate investments on behalf of the Meriwether principals, high-net worth individuals, family offices, and institutions.
Meriwether was founded in 2002 by Joel Aslanian and Robert Briscoe who have worked together since 1998. The company has acquired more than 2 million square feet of commercial real estate at a cost of over $250 million.
The firm’s primary investment focus is in the Seattle and Portland metropolitan areas. Meriwether invests in properties that are well-located with sound physical and economic fundamentals; properties that have the ability to generate attractive levels of distributable cash; and properties to which we can add value by executing recapitalization or repositioning strategies.