2020-01-20 Ron Ramza
Chris Johnson
From:Ron Ramza <ronr@onecornerstone.net>
Sent:Monday, January 20, 2020 5:01 PM
To:Bill Parsons; Sonya Allen; Meridian City Clerk
Cc:scott@northsidemgt.com; taylorschmidt208@outlook.com
Subject:Public Comment H-2019-0068 Goddard Creek Townhomes
Attachments:1498_001.pdf
External Sender - Please use caution with links or attachments.
Mr. Parsons, Mrs. Allen, & Clerk, please find a letter of comment, attached to this email, that I am requesting you submit
to public comments for H-2019-0068 Goddard Creek Townhomes hearing tomorrow evening.
Thank you in advance for your assistance,
Sincerely,
Ron Ramza
Ron M. Ramza | Principal | Broker
Commercial Real Estate Sales & Leasing
Industrial | Office| Land | Investments
Cornerstone Commercial Real Estate LLC
Main: 208.367.1500
Mobile: 208.867.9993
Fax 208.493.3041
ronr@onecornerstone.net
www.onecornerstone.net
658 North Principle Place
Suite 411
Meridian, ID 83642
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CORNERSTONE
COMME.RCIAI REAL E%TAI E. Ll C.
January 16, 2020
City of Meridian
33 E. Broadway Ave., Ste. 102
Meridian, ID 83642
RE: Goddard Creek Townhomes
File No. H-2019-0068
Dear Mayor Simison, City Council Members, and Staff:
My name is Ron Ramza, I am the Broker and Principal of Cornerstone Commercial Real Estate,
LLC, based in Meridian Idaho. I've been an Idaho State Licensed Commercial Real Estate expert
for over 11 years, primarily serving the Treasure Valley, specializing in Mixed Use Commercial
Development, Office, Industrial, and Investment Sales.
I understand the land in proximity to the corner of McMillan Road and N. Goddard Creek Way
has a development agreement overlay of Light Office. In my opinion, Office is not the highest
and best use for this property. There are several factors used in determining highest and best use
and in this instance three of the primary factors for Office development are accessibility,
location, and market supply.
Today's competitive market for Office Tenant or Owner Users requires good accessibility to
arterial roads. With the only access for this property being through a private street on the north
side, away from McMillan road, the accessibility is poor at best. This disguised, private road
access will make it difficult for business owners and less appealing to potential tenants and their
customers.
Typically offices need to be located close to an intersection to attract customers coming from all
4 directions. With this property being over a half a mile from the McMillan and Linder
intersection and almost a half a mile to the McMillan and Ten Mile intersection that hurts the
ability to attract customers and tells me it is not an ideal location for office use. I'd ask you to
look at a similar situation at Quenzer Commons Condominiums, 1585 Leigh Field Drive
Meridian 83646, a 30 unit Office / Medical development, just off Locust Grove, North of Ustick.
This development took an extensive amount of time to lease up and/or sell the units primarily
due to its location.
The market supply in this trade area for office is high. One mile to the northwest there are plans
for a new Costco (Ten Mile and Chinden) where the developer has designated over 145,000
square feet of office/retail space coming in the near future. One mile to the northeast is the new
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CORNERSTONE
T. 0.%4WRCIAL REAL ESTATE, L! (
Commercial development called Linder Village (Linder and Chinden), where Winco is going
and the developer has designated over 62,000 square feet of office/retail in the first phase with
more coming in phase two. On the corner of Ten Mile and McMillan, which is less than a half
mile away to the West, there is commercial land on all four corners designated for future
office/retail. To the East, there are new offices going up and multiple pieces of land designated
for commercial use. All these locations are on an intersection which gives them a superior
location and have multiple direct accesses to an arterial road.
In my opinion, the highest and best use for the property in proximity to the corner of Goddard
Creek Way and McMillan Road is not an office use because of poor access, undesirable location,
and a high supply of office space on the market of coming to the market.
Ro�nRamza
Broker/ Pr' c' al
Cornerstone Commercial Real Estate, LLC
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