Real Estate Firm Increases Its Idaho Presence Schneidmiller Buys Another Agency To Help Boost Its Commercial Base
Kootenai County’s largest real estate brokerage just grew even larger.
Coldwell Banker Schneidmiller Realty announced Monday that it has purchased Beebe, McKernan & McCarty.
The acquisition will help Coldwell Banker Schneidmiller Realty expand its commercial real estate base in North Idaho, said broker-owner Gary Schneidmiller.
Together, the two firms represent more than 50 percent of the commercial market in the county, according to the Coeur d’Alene Multiple Listing Service.
Coldwell Banker had commercial properties sales of about $20 million last year, according to the MLS. Beebe, McKernan & McCarty does not report its sales figures.
About 90 agents work in Coldwell Banker’s commercial and residential real estate divisions. Beebe, McKernan & McCarty has a staff of five.
Each company has a slightly different niche in the commercial market. “I think that’s part of the reason the marriage is so perfect,” Schneidmiller said.
Coldwell Banker has put its energy into working with national retailers seeking to locate stores in the area.
In the past 18 months, Kootenai County has achieved the population densities that made it attractive to Home Depot and other chains, said Chad Dwyer, Coldwell Banker’s commercial manager.
Beebe, McKernan & McCarty, meanwhile, specializes in property management and commercial leasing - a specialty in which Coldwell Banker needs to expand its presence, Schneidmiller said.
“A lot of property owners don’t have an interest or expertise in managing a building,” said Jack Beebe, co-owner of the 15-year-old firm.
The company oversees construction of commercial buildings and finds tenants. Clients include Harbor Plaza, Northern Lights Mall, Old City Hall and The Spokesman-Review building in Coeur d’Alene.
The staff of Beebe, McKernan & McCarty will continue to work from its office at 608 Northwest Blvd. for now. Eventually, employees will move into a 12,500-square-foot Coldwell Banker building under construction at 2000 Northwest Blvd.
Officials declined to disclose the purchase price for the acquisition, which was effective Friday.