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LeAnn Hume and Andrea Nilson met 20 years ago, as advisers of Albertsons. About four years ago, they abutting up with adolescent bartering absolute acreage agent Sara Shropshire to actualize a aggregation at Cushman & Wakefield Pacific that specializes in retail addressee representation and retail advance sales. It’s the alone aggregation of its affectionate in the Treasure Valley, as far as they know.
Their Downtown Boise appointment is an associate of the all-around absolute acreage allowance company. The appointment at Ninth and Broad streets has six full-time employees, two acreage managers and 16 brokers who are absolute contractors. Hume beneath to acknowledge anniversary sales.
“We feel like our bazaar is big abundant now where, if you don’t specialize, you’re not actually accomplishing your applicant a service, because you actually do charge to be an able at what you’re doing,” Hume says. “You can’t be an able if you’re accomplishing automated and appointment and retail and acreage — and, and, and. Bodies do that. It works, but we actually acquainted like it was important for our audience for us to not.”
For some clients, like Cafe Zupas, they body a multiyear rollout plan for locations beyond the arena or beyond the state.
“We put a lot of windshield time in,” Nilson says. “I was in Spokane and Rathdrum and all these added baby Northern Idaho towns the anniversary afore I went on an Eastern Idaho tour. We are apparently one of the alone teams that leaves the market, leaves Boise. We do deals all over Idaho.”
For abounding of their deals, the brokers abrasion several hats — aloof locations and alive with developers, buyers, investors, franchisees and anyone abroad with a pale in retail absolute estate.
Real acreage brokers LeAnn Hume, Andrea Nilson and Sara Shropshire, with Cushman & Wakefield in Downtown Boise, accept managed the sales and leases for several acclaimed retail businesses the greater Boise area. They see themselves as quarterbacks of bartering absolute acreage deals.
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“Pizza Hut is shrinking their model,” Shropshire says. “They acclimated to be the big sit-down restaurant, and they’re accepting abroad from that and activity to commitment and takeout only, like some of their competitors, Little Caesars and Domino’s. So they came to us and said, ‘We charge to move into all these abate spaces, and we charge to do basically a accumulation departure of all our big locations, except for a brace that do actually well.’ ”
Hume says the aggregation pitched both the Pizza Hut franchisee — NPC International — and the backer of the backdrop about a year ago: “Let us do all of this.”
Since then, they’ve begin new locations for six of the eight downsizing Pizza Huts. Next, they will alpha the additional beachcomber of Pizza Hut downsizing.
The old Pizza Hut at Apple and ParkCenter that closed, and the new abate one that opened on Federal Way? They were allotment of the Hume-Nilson-Shropshire project.
“I’m actually appreciative of that project,” Hume says.
What’s hot appropriate now?
Kuna, for one thing: “Tons of homes and no services,” Nilson says.
She mentions four new retailers aperture Kuna locations: Dollar Tree, Tractor Supply, O’Reilly Auto Parts and Taco Bell.
“For a association that actually has Ridley’s and an Albertsons but annihilation else, I anticipate that actually helps,” she says.
Q: How did you get into this industry?
Hume: I got my undergraduate in attitude [from Boise Accompaniment University]. And for abridgement of annihilation bigger to do, I affectionate of aloof went into the master’s affairs to be a academy counselor.
As I was activity to alum school, I was alive abounding time in the website development business with one of my best accompany from college. And literally, bodies were cogent us, “I don’t anticipate this website affair is activity to bolt on.” This was 1996, 1997, and they were saying, “I aloof don’t apperceive that we actually charge a website. I’m not abiding that’s a acceptable advance for us.” We hit the bazaar a little aboriginal for that blazon of business.
This befalling came up at Albertsons and a acquaintance told me about it. It seemed like it would be a accustomed fit for me, because I grew up in a absolute acreage family. My dad had his own absolute acreage aggregation in Nampa from 1973 until aloof afresh — Bill Thompson and Co. — so I grew up in that world.
I got assassin [at Albertsons] with three added gentlemen. We were answerable to body Albertsons Express gas stations. We were actually advantageous to be accomplished in the Albertsons affairs at that time, because it was the celebrity canicule of Albertsons above-mentioned to the American Food alliance [which afflicted the advance of the company]. Gary Michael was our CEO. It was aloof a admirable abode to work, and we got accomplished by some appealing absurd people. I aloof fell in adulation with the business from there.
Eventually, I was accessible to not biking so abundant and had little kids. So I went into allowance 13 years ago and never looked back.
Shropshire: I confused to Boise a little over bristles years ago and actually had no bold plan at all. I accelerating [from Idaho Accompaniment University] and absitively to alive here. I confused over, looked for a job, and [learned about bartering absolute estate] through a acquaintance of a acquaintance who had aloof bought a bartering architecture — appropriate as this appointment was advancing together. I met with a brace bodies that were brokers here, and I met with LeAnn.
I actually had no abstraction about bartering absolute estate. I thought, you know, this could actually work. My bulk is in marketing; it makes a lot of sense. So I concluded up accepting my authorization and beatific LeAnn an email, and aural a anniversary or so, I was here.
Nilson: I came out of [The Academy of Idaho] and started at Albertsons’ accumulated appointment in the pharmacy business-development department, which was basically activity out and allowance them access pharmacies all beyond the country. Cold-calling on absolute pharmacists and aggravating to argue them to advertise their business and go assignment for Albertsons.
Which is a actually absorbing job appropriate out of college. You had no cellphones, so it’s the AAA map advance beyond the council wheel, in a abode you’ve never been before, alive about talking to strangers about a business you don’t apperceive that abundant about because you aloof started. It’s basically like ambience yourself up for rejection. I acquainted like I was affairs exhaustion cleaners for a while. I anticipate that job able me to appear up with artistic solutions and anticipate alfresco the box a little bit.
There was an centralized absolute acreage [position at] Albertsons, and the gal that was the arch of that administration was acclaimed throughout the aggregation to be actual tough. I anticipate I may accept been the alone actuality that applied. So I got the job. The actuality that she was boxy on me affectionate of fabricated me the way I am today. She’s one of my best friends. We do a lot of business with her.
I concluded up blockage with Albertsons for eight years accomplishing centralized accumulated absolute acreage through the alliance with American Food and the auction to Supervalu and the aftereffect to Cerberus. Finally, I got to the point breadth I acquainted like I was activity to too abounding affairs to accommodated about affairs to accept some added affairs about them.
I was approached by a developer in Southern California, and I went on to the development ancillary of the business and formed out of an appointment of my own here. My ally were in California. I formed on the development ancillary in the affliction bread-and-butter abatement we anytime had, and I survived that.
One day, LeAnn started putting the bug in my year about aggravating brokerage, and it was like, “You apperceive I could never be a broker. I don’t anticipate I would be actual acceptable at that.”
Now that I am, I can’t brainstorm accomplishing annihilation else.
Q: What do you anticipate makes a acknowledged broker?
Hume: You accept to be actual tenacious, intelligent, articulate.
Shropshire: It’s not article breadth you can appear in and addition easily you a handbook and says, “Let me alternation you and advise you and you can learn.” You dive in, and you achievement that you float.
You get in every day and hit the arena running. … I say it’s aback you get in, but it’s added aback you deathwatch up and attending at your buzz and see your emails.
Hume: You actually accept to accept the attitude for this business. It can be barbarous at times. Deals can booty years to appear together. I anticipate that sometimes, the acumen can be that we do actual able-bodied financially and it charge attending accessible from the outside. If you actually get into this business, you apperceive that you accomplish money on about 20 percent of what you assignment on.
It’s a boxy business, and if you’re accommodating to stick it out for two years afore you end up authoritative money, and afresh you’re actually committed to learning, afresh it is a abundant profession. But it’s not for the aside of heart, for sure.
Q: What are some deals you’ve done as a team?
Hume: We’ve done Starbucks deals. We did all the Freddy’s Frozen Custard & Steakburgers deals. We did all the Popeyes deals. All the Dollar Tree deals. Chipotle, Noodles and Co., Jersey Mike’s Subs. We did all the Cafe Zupas deals.
We quarterbacked these deals. We are ambidextrous with a huge aggregation — amid appellation companies, attorneys, architects, tenants, landlords. We accept this huge aggregation of people, and we are the actuality that’s aggravating to accumulate everybody affective against a accomplishment band of some sort.
Cushman & Wakefield Pacific has handled all the Chipotle bartering absolute acreage leases in the Treasure Valley, says LeAnn Hume, a chief administrator who specializes in retail/investment backdrop at the firm. A Chipotle agent takes a cafeteria breach in 2012 at the restaurant at 205 N. Milwaukee St. in Boise.
Idaho Statesman book
Imagine a allowance abounding of 100 balloons, and we are constantly, amid the three of us, borer anniversary of these balloons to accomplish abiding none of those balloons are popping, hitting the attic or anything.
Shropshire: We accept had several tenants — Cafe Zupas actuality one of them — we adulation alive with them, we adulation their product. They came to us and said, “We charge to do X bulk of food in your bazaar aural this time frame.”
It’s not just, “Here’s this accessible space; you can go in there.” There’s so abundant science and abstracts that goes into what makes the best faculty for breadth you charge to be to be successful.
Q: What’s it like actuality a aggregation of women in a male-dominated industry?
Hume: We don’t anticipate about it abundant until we abeyance and anticipate that women represent about 10 percent of bartering practitioners. And we go to these huge conferences in Vegas, and that’s about right: One in 10 is a woman.
We don’t anticipate about it a lot, but we’re actually appreciative of it.
Shropshire: The aboriginal affair that popped in my arch aback you said that is, “Well, I’ve never been allotment of a aggregation of men, so I don’t apperceive what the aberration is.” I anticipate our success shows that [gender] doesn’t bulk as much. We accept our run-ins with the guys that are earlier — from a altered bearing — we still run into that every already in a while.
Nilson: I anticipate it’s appealing awesome. Like any acreage that’s male-dominated, I anticipate we affectionate of account some of that with the akin of acquaintance and affairs we’ve completed. I anticipate we’ve becoming our stripes.
Hume: We accompany article different to a male-dominated trade. We’re boxy negotiators, but fair. We’re educated. We booty it actual seriously. But we additionally accept this element, I think, that brings a lot of amusement and absurdity to these deals. We accept the adeptness as females that it’s not all business all the time. You do advance relationships with people, and maybe accept a little added intuition on things and adroitness that we accompany to deals.
Not that men don’t do that. But we’re not aloof a aggregation of ladies and we handle it all like ladies. You accept to accept a courage in this business and a blubbery skin.
We do accept the adeptness to acquaint things in a way that doesn’t appear beyond as aggressive. In a way that takes advantage of our abilities as absorbing women. [Laughter from everyone.]
Q: What are your admired deals?
Nilson: Deals like the one we did on Broadway [between Howe and Warren streets] with all the old houses, and now it’s Black Rock Coffee Bar and Popeyes and Jersey Mike’s Subs.
I adulation alive on the tenant’s ancillary of things, which a lot of brokers don’t like because it’s such a amazing bulk of work. A lot of driving. I was with a addressee [recently]. We collection from actuality to Buhl, Rupert, Gooding, Twin Falls, Shelley, Rigby, Preston. Up to Dillon, Montana. Hailey. Salmon. It was 1,300 afar and two canicule of driving, which included a clay alley and a baby abundance canyon that weren’t actually on the map.
Q: Is anyone new advancing in? Aback are we accepting an IKEA?
Nilson: I’ve alleged IKEA a actor times — and, yes, I accept a absolute breadth in apperception for them appropriate now.
Hume: They say they charge one actor bodies in the MSA. And we’re about 680,000 now?
Nilson: I like to use the stats that The Village at Meridian uses. They use a draw of one actor people. … We’re alive on ’em.
Hume: In-N-Out, we consistently get that question: “When is In-N-Out coming?” And that’s a administration issue. A lot of [barriers to] access are distribution-driven, or they accept to break that afore they get in here.
Q: Who did you accompany here, afterwards they were on your ambition list?
Nilson: They put it on hold, went and chased addition market, afresh we were able to argue them to appear back. We formed adamantine to get the sites that they got. None of those were accessible deals. The one in Nampa was astonishing that we were able to get that site. The timing aloof formed out abundant there.
Q: What are some big deals you’ve formed on recently?
Nilson: The aggregation we both started with — Albertsons — to see them alive afresh in the market, and for us to be able to be allotment of that, has been actually fun. We helped them buy the absolute arcade centermost at Broadway and ParkCenter, and we helped them on their accretion at Eagle and Amity, which is a huge advance area. And the Barber Station project. So it’s fun to accept the aggregation that we started with, that actually got us into absolute estate, in our backyard alive again, and to be alive with them. They are absolutely, in my opinion, the arch grocer in the Treasure Valley.
Hume: We’re additionally complex in the baseball amphitheater project. We were originally activity to do a baseball amphitheater by Boise State. That didn’t assignment out at the aftermost minute. So we were now the appreciative owners of Hong Kong Spa and the Beach Club Tanning Salon, and we are redeveloping those two barrio — disturbing them bottomward and architecture a aboriginal retail architecture with two or three tenants on that corner.
And that’s the aforementioned developer that owns the Hawks, that will be accomplishing the amphitheater on Americana. Continued term, we’ll be accomplishing all the leasing for them. Our appointment aggregation will be accomplishing the appointment leasing. We’ll do the retail leasing for them on all the mixed-use we’ll accept out there. It’s already been 3 1/2 years back we started, and it’s aloof gone by like that. We’ve been alive on that for a continued time, and I’m acquisitive now [knocks on wood] that we assuredly are in the spot.
Q: Breadth is the Treasure Valley now, in agreement of bartering absolute estate?
Hume: We’ve talked for a continued time on the advance ancillary about how we accept a lot of money advancing in from California — that bodies accept awash acreage there, and they can appear buy a Popeyes actuality for the aforementioned assets beck at a bigger return.
But that pushed our cap ante down, too, and the supply. So I anticipate we’re still a actually able market. I don’t apperceive that we’re activity to see cap ante appear bottomward anymore. [The capitalization, or cap, amount is the accepted amount of acknowledgment on a absolute acreage investment. Ante of 6 percent to 10 percent per year accept been accepted in the Treasure Valley, with contempo ante at the low end of that ambit because of aerial appeal from absolute acreage investors.]
Nilson: I anticipate what bodies say is they’ll attending at retail and think, “Oh my gosh, these big boxes are closing. What’s accident to retail?” But there’s consistently movement in the market, and as anon as one of those closes, it either gets breach up into new spaces or addition new abstraction emerges that takes the accomplished space.
Macy’s, J.C. Penney and Kohl’s … they’re closing, but Target is thriving. Kmarts are closing everywhere. But, to me, it’s: Who is the above abstraction now? It’s not J.C. Penney anymore. You attending at Athleta, they’re opening. Achievement Ave. You’ve got a improvement of baby boutiques Downtown. Bodies like that abate feel. They like to feel like that abode is appropriate in some way, appearance or form.
Q: With all those new openings, are we accepting saturated?
Hume: I anticipate we accept a continued way to go afore we get saturated. We’re affectionate of like the abutting Denver. In 20 years. That’s what we’ve been compared to on the retail side. We accept a lot of deals larboard to do.
I’ve lived actuality my absolute life. … The advance has been tremendous, and we adulation seeing bodies appear in who appetite to alive the aforementioned affection of activity as we do. And we’re additionally retail connoisseurs, obviously, and we adore that allotment of the analysis that we do.
We appetite to see advance here, and we anticipate we will. It’s been fun to watch this association get bigger, added mature, and we are at the point now breadth I anticipate in our industry, actuality specialists and actuality a aggregation is actually important. We’re aloof too big now to do it any added way.
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