IDAHO
District 208 Shopping Center
The collateral for this loan is an approximately 107,000 square footbuilding that is part of the District 208 Shopping Center, formally known as the KarcherMall in Nampa, ID (approximately 22 miles west of downtown Boise, ID). Since acquiringthe nearly 400,000 square foot indoor mall back in 2019, this space is the last piece of thepuzzle that remains. The borrower demolished about 25% of the entire mall, added a fewoutparcels, and is turning the excess parking in the back of the shopping center intoapartment buildings. While the apartments are not part of this collateral, the completion ofthem is paramount to getting this last parcel leased. Now that the apartments are almostcomplete, a tenant has signed a new lease. The new lease will commence after theapartments and tenant improvements have been completed. This completion isanticipated to be in August of this year. The tenant is a discount store and warehousebased in Pennsylvania who currently has nearly 20 locations
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