Eric Peterson | CRE Expert Washington/Idaho

Helping CRE owners and investors unlock value and maximize ROI. Sales, Leasing, Tax Appeal. $150m+ Transaction Value | Let’s connect! #CRE

[Eric Peterson | CRE Expert Washington/Idaho @CREwithEric]

@coleruudjohnson Bot

[Eric Peterson | CRE Expert Washington/Idaho @CREwithEric]

Just listed: 5.22 acres of multifamily land in Mead, WA. Zoned MDR, right at Farwell & Cuba.

Flyover: https://t.co/BZx74rU43p
Details: https://t.co/GrEF7MulgM

ACTIV8 Real Estate, LLC

 #SpokaneRealEstate #MeadWA #MultifamilyDevelopment

[Eric Peterson | CRE Expert Washington/Idaho @CREwithEric]

Full building. Still a refinance problem.

$757B in U.S. apartment debt matures 2026-28 (MBA via WSJ). Spokane asking rents: +0.6% YoY in Q2 (CoStar via ACTIV8).

Barely moving rents + higher rates can mean smaller loans.

[Eric Peterson | CRE Expert Washington/Idaho @CREwithEric]

In Coeur d'Alene, the newest apartments have the highest vacancy. The tightest part of the market? Older buildings.

570 units absorbed, 47 delivered, 12 months through Q2.

If you own an older CDA building, the next few years may be on your side.

[Eric Peterson | CRE Expert Washington/Idaho @CREwithEric]

A perfectly zoned lot isn't a buildable lot until the sewer, water, and roads can handle it. Post Falls just approved $3.1M in water reclamation upgrades, with a bigger phase projected around $40M. If you hold land there, watch that timeline as closely as the zoning map.

[Eric Peterson | CRE Expert Washington/Idaho @CREwithEric]

My Spokane read: https://t.co/BccslSwLAf

[Eric Peterson | CRE Expert Washington/Idaho @CREwithEric]

Fewer apartments are being built. That doesn't mean your vacancies are about to fill. U.S. apartment starts ran at a 344,000 annual rate in August (Census), down 15.5% YoY (CoStar). That helps later. Right now, every unit already built or underway still has to lease.

[Eric Peterson | CRE Expert Washington/Idaho @CREwithEric]

Growing up, the recipe for a perfect Friday night was pretty simple:

Pizza, a bucket full of quarters, and Teenage Mutant Ninja Turtles at the arcade.

Life was good.

Now I get to watch my son play the same game, and suddenly, it’s Friday night all over again.

IYKYK 🐢🍕🕹️

[Eric Peterson | CRE Expert Washington/Idaho @CREwithEric]

The assumption I keep hearing is that flattening construction costs mean a new wave of apartments. Read what builders actually said this week: confusion, and no agreement on whether to start anything. Cheaper materials don't build apartments. Financing does.

[Eric Peterson | CRE Expert Washington/Idaho @CREwithEric]

Spokane vacancy is above 8%, but outside capital hasn't left. Spokane had 8 of the region's 19 apartment sales last quarter ($76M combined regional volume, Kidder Mathews). One 178-unit sale closed at $22.5M in under 90 days. Buyers are selective, not absent.

[Eric Peterson | CRE Expert Washington/Idaho @CREwithEric]

Spokane has permitted 561 new apartment units through July, the 3rd-highest Jan-July total in 20+ years ($110M valuation, +57% YoY). Another 800+ units are in the permit queue. Vacancy is already above 8%. Worth watching where and when this supply lands.

[Eric Peterson | CRE Expert Washington/Idaho @CREwithEric]

Spokane apartment vacancy: above 8% vs a ~6% long-run avg. Not overbuilt, though: absorption is half what it was a year ago (1,740 to 735 units). Rents near $1,395/mo, up <1%. https://t.co/BccslSwLAf

[Eric Peterson | CRE Expert Washington/Idaho @CREwithEric]

Fed rate hike odds for the Sept 16 meeting jumped sharply in late August, after Warsh's Jackson Hole speech. 10-yr Treasury: 4.64% (Aug 25) to 4.73% (Aug 28). Refi coming this fall? The math shifted. Not advice, just the numbers.

[Eric Peterson | CRE Expert Washington/Idaho @CREwithEric]

Post Falls holds 41.5% of Coeur d'Alene's industrial inventory, but vacancy there is 11.8%.

Kootenai is at 0.6%. Greater Coeur d'Alene is at 1.4%, per CoStar.

Same market. Very different vacancy picture.

ACTIV8's Q2 2026 CDA Industrial report: https://t.co/CMCun5KH8n

[Eric Peterson | CRE Expert Washington/Idaho @CREwithEric]

Everyone knows nobody wants office space. Spokane office vacancy is 7.2%, per CoStar, and an institution just paid $28.7M for four medical buildings here.

That one deal was a third of the year's volume.

ACTIV8's Q2 2026 report: https://t.co/Wd1v5zADBc

[Eric Peterson | CRE Expert Washington/Idaho @CREwithEric]

Coeur d'Alene delivered 47 apartment units over the past year. The market absorbed 570, per CoStar. Vacancy fell 280 bps to 6.8%.

Only about 225 units are currently under construction.

ACTIV8's Q2 2026 CDA Multifamily report: https://t.co/mSeV0ZY84R

[Eric Peterson | CRE Expert Washington/Idaho @CREwithEric]

$226,600/unit vs. $95,000/unit. Same Spokane multifamily market, four months apart.

The first property was built in 2025 and 97% leased. The second was built in 1978 and 58% leased, per CoStar.

ACTIV8's Q2 2026 Spokane Multifamily Report: https://t.co/oQu6x5ad2K

[Eric Peterson | CRE Expert Washington/Idaho @CREwithEric]

Coeur d'Alene retail vacancy is about 1.0%. Yet property sales volume fell 56%.

Not because demand disappeared. Few properties are coming to market.

ACTIV8's Q2 2026 CDA Retail report: https://t.co/YuO3pZtWic

[Eric Peterson | CRE Expert Washington/Idaho @CREwithEric]

National investors now account for about 71% of Spokane industrial dollar volume, per CoStar.

For owners, the buyer pool is increasingly extending beyond the local market.

ACTIV8's Q2 2026 Spokane Industrial Market Report: https://t.co/B5wVXDNjgj

[Eric Peterson | CRE Expert Washington/Idaho @CREwithEric]

CoStar's market-model cap rate for Coeur d'Alene office is 9.9%. Properties that actually sold over the past year averaged 6.4%.

A market average doesn't necessarily tell you what an individual property is worth.

https://t.co/JvlfhXaZe1