Tuesday, Coldwell Banker Commercial Intermountain (CBCI) was chosen out of seven brokerage firms to lease the 646,000-square-foot Pine Ridge Mall.
The space was bought at auction by Farmer Holding Company who has chosen CBCI to retain the property and revitalize the mall. CBCI will be responsible for leasing the 124,000-square-foot vacancy in Chubbuck, Idaho’s Pine Ridge Mall to complement current, national tenants—J.C. Penney, Sears, Shopko and Herberger’s.
“Managing the leasing business of the Pine Ridge Mall is a significant addition to Coldwell Banker Commercial Intermountain’s portfolio in Eastern Idaho,” said Rich Robins, Vice President and Retail Specialist for Coldwell Banker Commercial Intermountain. “Bringing new life to the empty space in the mall and outparcels will enhance the quality of life and economic stability in the area.”
CBCI has compiled a team of three retail experts to work on the project. Don Zebe, Vice President of CBCI’s Eastern Idaho office, is a Pocatello resident and knows the retail world through deals and management experience with organizations such as Pocatello Square and Knudsen Poor Farms. Richard Coles and Rich Robins were chosen out of the Salt Lake City office to spearhead the acquisition with Zebe. Together, the pair has more than 80 years of retail experience.
“Of the several brokerage teams we interviewed, Coldwell Banker Commercial Intermountain rose to the top due to their ability to attract national and local retailers to Pine Ridge Mall,” said Rob Kingsbury, Principal of Farmer Holding Company. “We are pleased to be a part of the Pocatello and Chubbuck community and are determined to take the proper steps to return Pine Ridge Mall to its full glory. We are confident Coles, Robins and Zebe are the men for the job.”
The Pine Ridge Mall operates as a regional retail area for more than 167,000 people. Citizens of Eastern Idaho frequent the Chubbuck and Pocatello areas for shops such as Costco and Dick’s Sporting Goods. Coldwell Banker Commercial Intermountain is committed to attracting further national retailers to create the ultimate shopping destination for all residents.