Alturas Capital and Wallaroos Mattress team up to buy and fill Fairview property

Spokane-based Wallaroos Mattresses & Furniture will be the new tenant in a 22,500-square-foot retail building at Fairview Avenue and Curtis Road purchased Aug. 14 by Eagle-based Alturas Capital Partners.

The space was previously occupied by Carol’s Design House.

Wallaroos is a new name for Overstock Mattresses & Furniture that owner Nathan Chetrit started in Spokane 3½ years ago. He now has three stores in Spokane and one each in Spokane Valley, Hayden, Idaho, and Missoula, Montana.

“We love the Boise market,” Chetrit said. “It’s growing like crazy.”

Chetrit describes Wallaroos as selling “high-end” furniture and mattresses with discounts up to 50 percent on furniture and 90 percent on mattresses. He expects the Boise store to open Sept. 1.

“The space is perfect for us,” he said. “It was a design center.”

Chetrit initially contacted Sherry Schoen, principal broker at Newmark Grubb ACRES in Boise, to build a store or find a store somewhere in the Treasure Valley. Schoen, who represented the Fairview property, had brought in Alturas as a buyer for the 5804 Fairview property – on condition that a tenant was found.

“Alturas and I flew to Spokane and looked at (the Wallaroos) operation,” Schoen said.

“Wallaroos is a growing regional furniture retailer with a proven track record and a sustainable business model,” said Travis Barney,President of Alturas Capital Partners. “We are very excited to have them as a tenant partner and look forward to many years of mutual success.”

Alturas did not disclose the purchase price, but the Ada County Assessor assessed  the property at $1.78 million.

Alturas has acquired 17 commercial real estate properties in Idaho, Washington and Arizona since September 2015.

Alturas Capital owns the Adelmann building in downtown Boise (the one with the turret on Capitol Boulevard), 1444 Entertainment across from Boise Spectrum, Treasure Valley Crossing and Eagle Marketplace, along with other structures in Twin Falls, Idaho Falls and, in Washington, in Puyallup and Wenatchee, and in Phoenix, Arizona.

Alturas acquired the 5408 Fairview property through its Alturas Real Estate Fund.