NAMPA, Idaho — Karcher Mall is under new ownership again as the property continues its transformation amid retail industry challenges.
Hyperion Realty Capital has purchased the half-million-square-foot property now known as District 208, marking the fourth ownership change in 20 years for the Nampa landmark.
"We're still evaluating not only our options as far as the layout and the existing improvements, but we're actively in the market with our leasing team," said Jon Mendis, managing partner at Hyperion Realty Capital.
The shopping center, which was a popular destination from the 1960s through the 1980s, was acquired from Rhino Investments late last year. Rhino still maintains ownership of a portion of the property that was converted from a parking space to apartments in 2023 despite community opposition.
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Some storefronts at District 208 currently have boarded-up windows, with one tenant reporting that vandalism increased after the previous owner stopped providing on-site management.
Craig Mueller of Hyperion Realty Capital indicated the new owners plan to maintain much of the existing configuration while addressing maintenance issues.
"Generally speaking, keep the existing configuration. There's some space that's not super visible," Mueller added.
With approximately half the mall having poor visibility from Caldwell Boulevard, Hyperion is considering creative solutions for those less-visible areas.
"Daycare-type use would be super appropriate. We have a lot of room back there, so we could accommodate an outdoor type of use," Mueller said.
The new ownership team cautions that significant changes to the former Karcher Mall will likely take years to be seen.
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