Development is underway on a $20 million retail center in Post Falls, dubbed North Point Plaza, which will be anchored by a 16,000-square-foot Grocery Outlet store, says Jordan Wirsz, president and CEO of Hayden-based Corhaven Properties.
The plaza site is on 7 acres of previously vacant land northeast of the state Route 41-Poleline Avenue intersection, which is just over a mile north of the Route 41-Interstate 90 interchange.
Grocery Outlet will be located at the northeast corner of the property, at 2588 N. Highway 41.
Also, a 5,000-square-foot 7-Eleven store with five fuel islands is progressing at the southwest corner of the plaza, at 4093 E. Poleline.
“7-Eleven has been out of the Idaho and Eastern Washington market in terms of new development since 1999,” Wirsz asserts. “This 7-Eleven is the first ground-up new construction in 25 years in the Idaho or Eastern Washington area, and this is their brand-new prototype.”
7-Eleven is the first gas station development for Corhaven, although Wirsz says there are several more gas station projects in the works.
AL Collaborative Architecture PA, of Eagle, Idaho, which does business as ALC Architecture, is designing the 7-Eleven project. Toronto-based Norr Group, is the architect for Grocery Outlet, he says.
Coeur d’Alene-based contractor Young Construction Group of Idaho Inc. broke ground on both stores in late March. Construction is expected to be complete by year-end for the two projects.
Corhaven acquired the property about 13 months ago, Wirsz says. The site likely could have supported a multifamily project, however, he says the Post Falls community is becoming burnt out regarding residential density.
The location also makes more sense for retail, he says, because Poleline Avenue now connects to Coeur d’Alene.
“It’s becoming a major thoroughfare between Coeur d’Alene and Post Falls,” he says.
Corhaven specializes in the acquisition, sale, and development of multifamily, industrial, and retail properties in North Idaho, western Montana, and Eastern Washington. The company also provides real estate consulting services.
North Point Plaza has about 4 acres of vacant land remaining for retail development, and Wirsz has a few ideas about future tenants. The undeveloped land at the site could be a good fit for a fast-food restaurant, coffee shop, medical or dental establishment, and a quick-service automotive maintenance provider, he says.
“We are currently talking to several tenants, but as of right now, we have five lots available,” he says.