Lookout Credit Union Portfolio

TOK Commercial is pleased to offer for sale this portfolio of three fully leased office properties. This portfolio of professional office bank branches consists of a total of 60,044 SF on 2.9 acres of land across the three locations. With two of the properties located in the Pocatello market, at 275 S. 5th Avenue and 202 W. Alameda Road, and the third in Burley, at 1031 & 1041 E. Main Street these properties are all prominently positioned while diversely spread apart in the communities they are in. They benefit from close proximity to the area’s most frequented retail corridors and excellent visibility on major traffic corridors.
The properties are occupied by the current owner and long-term tenant Lookout Credit Union, who will continue to lease back their existing space from the future owner in these three highly successful locations. The new lease will commence upon closing, for 15 years with 2, 5 year renewal options and 2% annual increases.
Lookout Credit Union is a leader in banking, with locations across Southeastern Idaho. They are a member-owned, not-for-profit financial institution whose sole purpose is to provide exceptional financial products and services to its members/owners. Unlike banks and other financial institutions that have to pay out dividends to stockholders and pay a Board of Directors, their excess earnings are returned to their members in the form of lower loan rates, higher dividends on savings, additional products, and services, additional branches, etc., providing a strong competitive advantage to their members while their Board of Directors, which are elected by the members, volunteer their time to make sure the credit union always operates in the best interests of the membership as a whole.
Established in 1952 as ISU Credit Union and rebranded in 2021 to Lookout Credit Union, this institution has continued to grow and thrive in Southeastern Idaho, with over $322 million in assets, 6 branches in total, and serving more than 27,000 members.
This offering provides a hard-to-come-by cap rate on a stable and diversified portfolio. These three, ideally located and well-maintained properties with a strong, established primary tenant presents a rare investment opportunity for prospective buyers.