Three Airlines To Add New Idaho Falls Flights

- The Associated Press

IDAHO FALLS, Idaho — Allegiant Air, Delta Air Lines and United Airlines have announced additional service to Idaho Falls International Airport.

Allegiant announced Wednesday that it will be offering two nonstop flights per week from Idaho Falls to Los Angeles International Airport, beginning June 3. The flights will operate Thursdays and Sundays.

On Tuesday, Delta Air Lines added a fifth flight from Idaho Falls to Salt Lake City. The flight is scheduled to depart from Idaho Falls Regional Airport at 6:10 p.m. every day but Tuesday and Saturday. Delta plans a sixth, seasonal evening flight from Idaho Falls to Salt Lake City, beginning on June 10.

United Airlines plans to add a third flight to Denver on May 2. The flight is scheduled to depart at 4:56 p.m. and will operate every day except Saturday.

1Q 2010 Featured Agent: Don Zebe

Don Zebe
(208) 525-8088
don@nai-idaho.com

Scope of Service Experience
Donald Zebe joined NAI Commerce One's team of dedicated real estate professionals in 2010. Zebe, formerly with Premier Properties, in Pocatello, Idaho, brings a wealth of experience in retail leasing, land acquisition, development, entitlements and site selection services to the team. Donald's career began in 2004 with the acquisition and development of Pocatello Square as principle owner and developer.

Background & Experience
Donaldhas provided site selection and disposition services to many retail and restaurant clients - including Pita Pit, HFC, Hollywood Video, Jack in the Box, Batteries Plus, AT&T/Edge Wireless, Ruby Tuesday, Del Taco, Craigos Pizza, Walgreen's, and DL Evans Bank.

Donald's landlord representation clients have included Trevision Development LLC.

Educational Background
Zebe earned a BBA in Business Management from Idaho State University, Pocatello, Idaho. He hold a Black Belt in Six Sigma from GE. While at GE Zebe led a national and international sales organization as a senior executive at GE.

Professional Affiliations & Designations
Donald is a member of the International Council of Shopping Centers (ICSC).

Significant Transactions
Buyer Representation - 20-acre regional shopping center site - $3.0 million
Owner Developer. 67 acre Regional Power Center
Landlord Representation - regional power center
Landlord Representation - New regional lifestyle center
Tenant/Buyer Representation - Del-Taco multi-market site selection/acquisition
Tenant Representation - AT&T Wireless

1200 SF Professional Office Space For Lease in Ammon

1552 S. Midway Ave | NAI Commerce One | 208.525.8088 1552 Midway Ave, Idaho Falls, ID Professional Office Space For Lease for $10.80/SF/YR NNN Office Year Built 2008 Sq Footage 1,200 Floors 1 Parking Unspecified Lot Size Unspecified Maint $0 per month DESCRIPTION Well located professional office space just off 17th Street and Midway, with 5 hardwalled offices, a private restroom, and a front reception area. There is a crawl space for convenient wiring. Rental rate is $10.80/SF/YR NNN. see additional photos below ADDITIONAL PHOTOS Photo 1 Location Contact info: 1552 S. Midway Ave NAI Commerce One 208.525.8088 For sale by agent/broker Equal Opportunity Housing Posted: Mar 23, 2010, 12:12pm PDT

Flyer: http://www.tinyurl.com/1552midway
Contact Brent Butikofer or Steven Frei at 208.525.8088 for more information or to schedule a tour.

Thoughts on Property Taxes from the President of the Eastern Idaho Apartment Association

At the EIAA meeting last week we learned two important things. First, we learned the process on how to challenge a property’s valuation. Second, we learned the key to reducing overall property taxes. I want to focus on the later.

I was totally surprised to find out how our property taxes are calculated. It is totally backwards from how individuals or companies manage their money.

1) The government body (city, county, etc…) creates a budget.
2) The Assessor calculates the total value of the real estate in the geographical area covered by the government body.
3) The budget is divided by the total value. This created the Levy amount.

If the overall value of housing goes down in the area, the levy amount actually goes up! So, it doesn’t matter if housing values go down significantly, your taxes will remain the same or even go up!!!

The key to getting the overall tax rate to go down is to lower the government body’s budget. In the past Blake Mueller said that hardly anyone shows up to challenge the budgets. We need to go to these meetings to make our voices heard. I have info on a few of the upcoming meetings:

City of Idaho Falls
July 21st, 28th and Aug 4th. All are at 8:30 AM, upstairs in the Municipal services building of City Hall.

Bonneville County
September 8th upstairs in the Centennial Court room at the old County Court house.

If you have information on when and where other meetings are going to be held, please contact me so I can send it out to the EIAA members.  As citizens and property owners, we need to go to these meeting and make our voices heard.

Bart Weaver, President
Eastern Idaho Apartment Association (EIAA)
http://www.eiaa.info/
(208) 535-8888

The next meeting of the EIAA will be held on April 14th and the guest speaker with be Idaho Falls Mayor Jared Fuhriman.  Location TBA.   For questions about the EIAA, contact Bart Weaver.

NAI Global Named Global Broker of the Year by PERE Magazine

NAI Global Named Global Broker of the Year By Private Equity Real Estate Magazine   The readers of Private Equity Real Estate (PERE) magazine named NAI Global the Global Broker of the Year in the PERE Awards 2009.   “Each year, the readers of PERE magazine and PERENews.com nominate and choose the firms, individuals and deals they believe stood out from the crowd the previous year,” said Zoe Hughes, Senior Editor, Real Estate. “2009 was a year in which the private real estate investing world experienced a tremendous amount of turmoil, so to be selected in this year’s awards is a tremendous accolade from our readers and a vote of confidence in what lies ahead for NAI Global.”   “This award is a testament to the quality and commitment of NAI Global and its professionals around the world in serving the private equity and financial sectors,” said Jeffrey M. Finn, NAI Global President & CEO. “Looking ahead, we will continue to innovate and add value with focused service offerings like our Special Asset Solutions group or the Commercial Property PowerSale™ program, to deliver exceptional results for clients around the globe.”   NAI Global offers a wide range of services for the commercial real estate investment sector, including asset management, acquisition/disposition, property management, leasing/agency services, valuation and advisory, market analytics, auction and portfolio optimization. The Global Broker of the Year award from PERE serves as recognition that NAI Global is the best at identifying and anticipating a client’s investment and brokerage needs.

 

 

 

Jackson Hole, Wyoming Commercial Real Estate Report

It’s been a while now since I’ve used this forum to address any topic directly relevant to our Industry. There’s a simple reason for this, day after day I see, I read, I hear reports from various sources providing commentary and projections on the future of the market and the industry, so the last thing the world needs is another wind bag blowing smoke.

Here are the facts for 2009 in the Jackson Hole Commercial Real Estate Market;

Total No. Leases: 7
Total No. Building Sales: 4
Total No. Lot Sales: 1
Total No. Transactions: 12
Total Volume: $17.9m

Notes:

1. Transactions include commercial leases, commercial building sales and commercially zoned land sales as reported in the MLS.

2. Wyoming is a non-disclosure state so not all transactions are reported.

3. The majority of lease transactions are conducted outside of the MLS directly between the Landlord and the Tenant.

What does this mean? Truthfully - Not very much. By the numbers 2009 was a more ‘normal’ year in the context of the past decade. 2005, 2006, 2007, 2008 were ridiculously high, 2000, 2001, 2002, 2003, 2004 were generally on par with 2009.

However, coming off a 4 year sugar high, 2009 felt like detox for our industry and for our city and county revenue streams. Less permit activity, less fees paid for applications etc.

As we know, perception is reality. 2009’s perception was pain. 2010’s forecast…you’re not going to get one here, try the hundreds of commercial commentating windbags, take the average of the forecasts, divide by your age and then stand on your head. That should give it some clarity.

Seriously, what we do know is that there is little to no commercial lending available at present and nationally the CMBS market will face many new challenges in 2010 as existing loans fall due without a new vehicle to pick them up. Until the national CMBS picture gains some clarity and direction, we don't expect to see any significant recovery in the Commercial Real Estate market.

Meagan Hill is a Commercial Real Estate Investments Specialist and Principal of NAI Jackson Hole servicing the Jackson Hole WY and Teton Valley ID markets.

For further information, contact Meagan at (307) 734-8700 or meagan@naijacksonhole.com

Social Media and Commercial Real Estate

Kevin Maggiacomo, President and CEO of Sperry Van Ness, is a fan of social media.  In a recent blog post, he responds to three common objections to being engaged in social media (which he calls "cop-outs"). He then details the benefits of using social media for commercial real estate professionals, and for clients.  I agree with Kevin!  Click here to the read the full blog post. 

The Bloom Box: An Energy Breakthrough?

(From CBS News) In the world of energy, the Holy Grail is a power source that's inexpensive and clean, with no emissions. Well over 100 start-ups in Silicon Valley are working on it, and one of them, Bloom Energy, is about to make public its invention: a little power plant-in-a-box they want to put literally in your backyard.

You'll generate your own electricity with the box and it'll be wireless. The idea is to one day replace the big power plants and transmission line grid, the way the laptop moved in on the desktop and cell phones supplanted landlines.

It has a lot of smart people believing and buzzing, even though the company has been unusually secretive - until now.

K.R. Sridhar invited "60 Minutes" correspondent Lesley Stahl for a first look at the Bloom box that he has been toiling on for nearly a decade.   


Watch CBS News Videos Online

NAI Commerce One broker Brent Wilson said, "I think this new invention could be bigger than the lightbulb." 

What do you think?  Read the full story: The Bloom Box: An Energy Breakthrough? at CBSNews.com.

Prime Restaurant Location Anchored by Edwards Theatres

The Teton Spectrum Shopping Center is the dominant entertainment and dining destination within the Idaho Falls / Ammon, Idaho market. Anchored by a 14-screen Edwards Theaters movie theater, the center draws from a large trade area which includes 14 counties within portions of Idaho, Montana and Wyoming. Current tenants include Carino's Italian Grill, Texas Roadhouse, Five Guys Burgers & Fries, Café Rio and IHOP. Adjacent anchor tenants include Target, Best Buy, Ross, Sportsman's Warehouse, TJ Maxx, Bed, Bath & Beyond and Kohl's. General Growth Properties' Grand Teton Mall (540,000 s.f.) is located immediately north of the center.
The subject property is an approx. 5,000 s.f. restaurant leasehold opportunity located directly in front of the movie theater along Hitt Road/S. 25th East. The building, currently occupied by TGI Friday's, enjoys tremendous exposure along S. 25th East, with monument signage and a significant amount of street frontage.

For more information, please click here, or contact Brent Wilson, CLS, at (208) 525-8088.

Commercial Real Estate Valuation: Not for the Faint of Heart

This week after completing a BOV for a retail pad site, I had a lengthy conversation with a local Idaho Falls appraiser about the challenging task of valuation in today's market. As commercial real estate professionals, we frequently get calls from appraisers seeking information. We also routinely complete opinion of value assessments on our clients' properties and for lenders and other institutions. But the task of valuation is a whole new ball game because of the recession. Comps from two years ago or more often don't mean much. Recent comps are few and far between. An in-depth evaluation of each property, along with an understanding of current local, regional, and national market conditions is critical. And the task is definitely not for the faint of heart.

--Kaly Shippen

Snake River Landing Chosen as Location for Idaho Falls Event Center

IDAHO FALLS - After listening to public input and receiving eight possible proposal's for the site, the Idaho Falls Convention and Visitors Bureau has been busy thoroughly studying locations over the past nine months.

The committee shortened that list to three possible sites and submitted the properties to a consulting firm to make a final decision. Their final recommendation; Snake River Landing.

"Any one of the three would have been viable candidates for this project. However, that is farther along in it's development. There are plans for complimentary businesses that would work with the event center there and that edged out the other two," explains Convention and Visitors Bureau Executive Director, Bob Everhart.

The other two site locations would have forced construction to start basically from nothing. Snake River Landing already has immediate name recognition, plans in place to build, roads and infrastructure, parking availability, and a close proximity to hotels, restaurants and the interstate. The site selection committee also took in factors such as access to utilities and possibilities of sustainable energy sources.

Snake River Landing plans to hold the facility on the southwest corner of their property. They're also very excited about all the possibilities the event center brings for them.

"We have been excited that they're working on this process for a long time and have always supported the idea of having an event center and thought it would be a great thing for this community. We were just extremely excited when we found out that we'd been selected for the site," says Snake River Landing Chief Development Officer, Eric Isom.

Click here to read the full article from KIDK Channel 3.

Idaho SIOR Sees Improvement in the Office Market

It's great to hear news like this from fellow Idaho commercial real estate professionals!

From Idaho Business Review Reports...

Debbie Martin, president of the Idaho chapter of the Society of Industrial and Office Realtors, maintains a positive attitude about an office market that remains sluggish but offers some opportunities.

She is “taking the market we have and dealing with it,” she said. Instead of waiting for conditions to improve, she’s staying proactive when it comes to finding and pursuing deals, and trying to put herself in the shoes of clients or prospective clients. She had more planned and expected deals in the pipeline as of the first week and a half of 2010 than she did during many periods of 2009, she said.

Click here for the full article.

Micron Goes Solar

Micron Technology took a big step toward entering the renewable engery industry on Jan. 14, with the announcement that it has entered into a joint venture with Australian firm Origin Energy Limited to develop solar photovoltaic technology.

Mark Durcan, president and COO of the Boise-based memory chip maker, stated: "As we have looked to leverage our core strengths in other markets, photovoltaic energy technology is a natural area of investigation.  Origin is a company with a significant interest and history in renewable energy technologies.  Combining our semiconductor manufacturing expertise with Origin's solar experience could result in a strong partnership."

Read the full article from the Idaho Business Review here.

AARP Tax-Aide to Locate in Sandcreek Plaza in Ammon

AARP Tax-Aide will be again be locating in Suite 107 at Sandcreek Plaza in Ammon, adjacent to Wal*mart Supercenter. AARP Tax-Aide is the nation's largest free, volunteer-run tax assistance and preparation service available to taxpayers with low- and moderate-income, with special attention to those age 60 and older.

According to Norm Kramer, AARP Tax-Aide District Coordinator, "All of the 40 tax counselors are IRS certified. Last year we prepared over 3500 tax returns, and the value of our service to the community was over $400,000." The local group has been serving the Idaho Falls area for 36 years. AARP membership is not required and they serve people of all ages.

Randy Waters and Brent Wilson with NAI Commerce One represented the landlord and AARP in the lease transaction. "These men and women go through training on their own time and its a great service that they provide to the community", said Waters.

AARP Tax-Aide will open their doors for walk-ins from February 1st through April 15th, and can be reached at 528-8887.

Nordic Windpower Announces Financing Deal

Berkeley, CA, January 5, 2010 – Nordic Windpower announced today that it has raised $38 million in a new financing round led by Khosla Ventures, a premier investor in clean technology companies. Joining Khosla Ventures in the Series C equity financing are New Enterprise Associates (NEA), one of the largest venture firms worldwide, Novus Energy Partners, a US/Europe-based investor in clean technology, and existing investor Impax Asset Management, a London-based fund. Other participants include I2BF Management, an international cleantech focused investment management group, and Pulsar Energy Capital.

“This investment represents a significant achievement for Nordic Windpower,” said Patricia Bellinger, Chairman of the Board of Nordic Windpower. “We are committed to greatly expanding access to our high quality, innovative two-bladed wind turbines to communities across America and beyond. The support of this world class group of investors led by Khosla Ventures will enable us to build and grow Nordic Windpower substantially, while contributing to global efforts to reduce dependence on fossil fuels and President Obama’s goal of energy independence.”

Click here to view the full Press Release from Nordic Windpower

About Nordic Windpower

Nordic Windpower designs, manufactures and sells innovative, two-bladed utility-scale wind turbines for community wind and utility markets worldwide. The company’s N1000 turbine has the lowest installed cost and highest reliability of any turbine in its class. Nordic Windpower’s patented, flexible teeter hub significantly extends mechanical life and lowers maintenance. With headquarters in Berkeley, CA, and a technology office in Bristol, UK, Nordic Windpower operates an assembly plant in Pocatello, Idaho. Visit www.nordicwindpower.com, or contact 322-2080 or (510) 665-9463 in Berkeley, CA.

Hoku Secures Financing to Complete Pocatello Plant

Chinese solar energy firm Tianwei New Energy Holdings Co., Ltd., is now – officially – the majority owner of Hoku Scientific, a Hawaii-based clean tech company building a polysilicon plant in Pocatello.

Dustin Shindo, chairman and CEO of Hoku, said the stock sale and subsequent financing agreements close a crucial funding gap for the Pocatello project, which had been slowed over the past year by shortfall of between $106 million and $121 million.

Full scale construction at the Pocatello plant is set to resume, and equipment that had been placed on hold pending Hoku’s receipt of financing is on its way, the company reported.

Read the full article from the Idaho Business Review by clicking here.

Other Regional Business News

Pacific Ethanol resumes production in Burley

Pacific Ethanol, Inc. on Jan. 6 said it resumed production at its Magic Valley facility in Burley, Idaho. The plant is designed to produce 60 million gallons of ethanol per year.   Click to read more

Wyoming Tax Benefits for Investors

By Meagan Hill

Happy New Year! We know that many of you are spending the time between Christmas and New Year trying to reconcile your records and finalize $ before the end of the Tax Year. As you wrestle with these challenges, take a minute to consider the Tax Benefits of Investing or Residing in Wyoming;

No State Income Tax;

If you’re unfortunate enough to still be working, no state income tax

= more disposable income

No State Company Tax;

If you’re an entrepreneur, no state company tax
= more profit

No State Excise Tax;
If you buy groceries or gas, no state excise tax
= more disposable income

No Tax on the Sale of Real Estate;
If you sell Real Estate in Wyoming, no tax on the sale of real estate
= more capital gain for You

No State Gift Tax;
If you are a generous soul, no state gift tax means you can gift real estate to your heirs without paying gift tax
= more inheritance for your heirs

No State Inheritance Tax;
Wyoming’s estate tax is tied to the federal tax credit and applies only to those with substantial estates.
= more inheritance for your heirs

No Tax on Out of State Retirement Income;
= more disposable income

Set up a Dynasty Trust
protect your assets from federal estate taxes for up to 1,000 years;
= more inheritance for your heirs

No Tax on Mineral Ownership;
a ‘hidden’ property tax that does not exist in Wyoming
= more disposable income

No Intangible Taxes;
no taxes on stocks and bonds
= more disposable income

Low Property Taxes.
2009 mill levy is 57.32 for teton county, WY
= more disposable income

When you’re done counting your $ and realizing the opportunity that Wyoming presents, take a minute to remind yourself of the ‘work-life’ balance benefits;
• Grand Teton + Yellowstone National Parks;
• Fly Fishing + Big Game Hunting;
• Skiing, Hiking, Mountain Biking; Rafting; Golf.

Still questioning my logic? Is the devil inside arguing with you? Look at the numbers.

Commercial Office + Retail suites or entire buildings are down 20-25%.

Start small - use your IRA to Invest in a Commercial Office or Retail suite for $500,000-700,000; or

Go for it - Leverage the opportunity presented by the economy with the rare offering of several landmark buildings in Jackson Hole.

To maximize all the tax benefits you will need to become a resident of our fine county. Lucky You! Right now, the Median Home Price is down 25% from 12 months ago.

Still unsure, give us a call.

Meagan Hill is a Commercial Real Estate Investments Specialist and Principal of NAI Jackson Hole servicing the Jackson Hole WY and Teton Valley ID markets.


For further information, contact Meagan at (307) 734-8700 or meagan@naijacksonhole.com

Routine Building Maintenance...and...The SWAT Team

By NAI Jackson Hole broker Meagan Hill


Now that you have your Building Audit complete and you’ve separated your Routine Maintenance from your Long Term Replacement schedule, do not file these papers in the drawer. It’s time to do a little short term planning and preparation.

Routine Building Maintenance provides an exceptional income stream for many Contractors in our area. With a little forward planning, you can find the best Contractor for the best price AND why not secure this service for the future?

Each year we all need to give our Property some lovin’ – clean windows, clean carpets, sweep chimney, clean outside light fittings, replace light bulbs, snow removal, lawn mowing, painting, handyman repair work, the list goes on. Each of these items are essential to maintaining our Asset Value and maintaining our Tenants.

Instead of making the hurried call in the spring, consider listing out all of these Routine Building Maintenance items and inviting bids from local Contractors to complete this work for you over the next 3 years. Imagine being able to forecast your Maintenance Budget out 3 years with some degree of certainty. Imagine being able to schedule your Maintenance Work in advance with confidence that you will have the right Contractor at the right time for your Property and your Tenants business.

All the planning in the world cannot completely protect you from the inevitable emergency in the middle of the night. This is where your own Property SWAT team comes into play. While many of you probably hold a list of folks you can call at a moment’s notice, few have any idea what it will cost and all of you are terrified of what it will cost in the end. Don’t be. Use the Routine Maintenance Bid process to get a schedule of values from each Contractor so you know what their Call Out Fee and Hourly Rate will be in the middle of the night. Use this information as part of your selection process and then put a Budget forecast aside for Emergencies.

All done? Congratulations, you’ve reached Property Owner Nirvana. Daunted by the thought of the task? Contact our office for further information.

Meagan Hill is a Commercial Real Estate Investments Specialist and Principal of NAI Jackson Hole servicing the Jackson Hole, Wyoming and Teton Valley, Idaho markets.  Check out her commercial real estate blog on ActiveRain by clicking here.

For further information, contact Meagan at (307) 734-8700 or meagan@naijacksonhole.com

Land Available Near Wal*Mart Supercenter in Ammon

4.51 Acres of Development Land

￭ Prime Multi-Family or Assisted Living
￭ Northeast of Wal-Mart and EITC, and North of Grand Teton Mall
￭ High Residential Growth Area
￭ Possible Seller Financing and/or equity participation
￭ Potential Uses Include General Commercial, Office, Retail, Multi-Family
￭ Subject Property is East of Curlew and South of Johns Adams


For more information on this property, including adjacent parcels, please contact Steven Frei, Brent Butikofer, or Steven Keim at (208) 525-8088.  Click here to download the property flyer.

Idaho's Tax Burden Among the Lowest in the Nation

The Idaho Business Review reported today that Idaho has the sixth lowest overall per capita tax burden in the country and the lowest tax burden among western states, according to the latest tax burden study published by the Idaho Tax Commission. Click Here to read the entire article.