This property is well located in Twin Falls, one of the fastest growing markets in Idaho, and has
a long- term lease in place with Columbia Bank.
Headquartered in Tacoma, Washington, Columbia Banking System, Inc. is the holding Company
of Columbia State Bank, a Washington state-chartered, full-service commercial bank. This
Columbia Branch is located at 1715 Pole Line Road East in Twin Falls, Idaho. Built in 2006, the
branch consists of 6,975 rentable square feet and is situated on 1 acre of land. The current
lease term expires in January, 2027 and has four, 5- year options to renew. Per the lease,
the rent during each of the succeeding 2-year periods shall be equal to the rent charged
immediately prior and increased by adjusting the prior minimum monthly rental amount by any
increase in the CPI for all urban consumers for the United States, Seattle Region.
On May 19th, 2015 Columbia Banking System, Inc. (NASDAQ: COLB, “Columbia”) and
Intermountain Community Bancorp (NASDAQ: IMCB, “Intermountain”) merged into Columbia
in a stock and cash transaction valued at approximately $121.5 million or approximately $18.22
per share. The combined company consists of approximately $8.2 billion in assets with over 140
branches throughout Washington, Oregon and Idaho.