Alturas’ Westpark Property Helps Support Boise’s RV Industry
Apr 25, 2017
Near The Boise Towne Square Mall and I-I84 sits an industrial building owned by Alturas Capital. Inside, dozens of workers are busy manufacturing components for recreational vehicles and manufactured homes.
Alturas acquired the 117,510 square foot industrial property on Westpark St. in 2016 and negotiated with Patrick Industries to locate operations for subsidiaries Décor Manufacturing and North American Forest Products at the property.
The site is home to manufacturing lines which create components for walls and cabinets used in RVs and manufactured homes, as well as trusses for RVs.
On the Décor side, production lines take lightweight raw wood product and laminate them with vinyls or papers to be incorporated into finished products. The process is ecologically friendly, producing minimal waste - mostly consisting of sawdust and water-soluble glue that actually help break down garbage once they reach the landfill.
Idaho is seeing a boom in the RV manufacturing industry, with Heartland Recreational Vehicles opening operations in Nampa and Jayco locating in Twin Falls - with both needing components delivered on a weekly basis.
Heartland chose the area because of the strong workforce and ability to find the people with the right skills. The company is able to cut down on costs by locating in the area - and this has attracted additional companies like Patrick to the Treasure Valley.
SW Idaho’s proximity to west coast markets helps lower shipping costs for RV makers - who traditionally assemble the vehicles in Elkhart, Indiana.
“It costs about $2,000 per RV to ship to the west coast from Eklhart, so you are adding to the cost of the product” Patrick Industries Territory Manager Jamey Waytenick said. “People who have plants out here, selling RVs locally have an advantage.”
With limited available industrial space available in SW Idaho, the property is a strong asset in Alturas’ portfolio.
“We are pleased to be able to assist Patrick with their needs for industrial space in SW Idaho, and facilitate new jobs in Boise,” Alturas Capital’s Travis Barney said. “This is a great addition to our community and will pay dividends for our growing economy.”
Waytenick says the partnership with Alturas gives Patrick and Décor an advantage.
“It’s worked out for us,” he said. “Travis has been good with the building - flexible and helpful. ”
Alturas Capital Partners is a Boise, Idaho based commercial real estate investment company and manager of the Alturas Real Estate Fund. The company actively invests in office, industrial and retail properties, with a focus on the Pacific Northwest and Intermountain West. Alturas owns properties in Idaho, Washington, Arizona, Colorado and Utah. The Shops at Decker Lake is the 24th asset purchase for the Fund. Since 2009, the firm has made investments valued at over $250 million and is actively seeking to acquire additional assets in the Western United States. Learn more about our commercial real estate investment company.