Treasure Valley Marketplace in Nampa sold

admin//January 11, 2008//

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CenterCal, a development firm with offices in Oregon and California, purchased Treasure Valley Marketplace last month. Treasure Valley Marketplace is one of Nampa’s biggest new shopping centers in years and is anchored by Costco and Target.

The purchase would give CenterCal two major land holdings in the Treasure Valley. It also owns land at Meridian and Fairview roads, where it plans to build a lifestyle center, Meridian Town Center. It received zoning approval for the lifestyle center this week.

“Thinking of the greater Boise market, we really like the demographic trends and the good controls on quality growth,” CenterCal CEO Fred Bruning said.

CenterCal plans to acquire three or four properties in the Treasure Valley, said Bruning, who has experience in the area from when he worked as vice president of development for JP Realty when it developed the Boise Towne Square Mall. “We’re still in the market for more assets in Idaho,” he said. “We’re actively looking.”

Owning different retail product types, such as the Treasure Valley Marketplace and the planned Meridian Town Center, gives real estate developers an advantage when recruiting tenants, Bruning said. “It gives you several different things to talk about,” he said.