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Eagle firm makes former Statesman building star of YouTube series on self-storage conversion

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Construction to remodel the former Idaho Statesman building into storage units could start soon. And the project is the focus of an amateur YouTube series.

As BoiseDev reported in 2020, Statesman owner McClatchy reached a deal to sell its large former home at 1200 N. Curtis Rd. in Boise. The Statesman’s staff started working from home at the beginning of the COVID-19 pandemic and remain in that mode today.

Cedar Creek Wealth of Eagle bought the 105,509 square foot building and surrounding grounds – but at the time didn’t disclose how much it paid. But in the YouTube series, Cedar Creek AJ Osborne said his firm spent $4.5 million to acquire the property. McClatchy initially listed the property for sale at $6.9 million in 2015, pulled it from the market, and relisted it at $5.5 million before the Cedar Creek sale.

[Idaho Statesman employees vote to form union]

YouTube remodel series

AJ Osborne stands in the former Idaho Statesman lobby. Via Cedar Creek Wealth

Osborne goes on a series of long, detailed tours of the cavernous former newspaper headquarters. The building contained both office space as well as industrial space for the Statesman’s printing facility. The Statesman shut down the printing press in 2009 and first outsourced printing to Nampa and later Twin Falls.

Osborne said in the video that the Statesman building was actually under contract to another buyer, but due to the COVID-19 pandemic and related lockdowns “all the buyers disappeared,” and his firm was able to purchase the property for a million less than the previous buyer.

“It was a distressed asset, and the banks were trying to get rid of it. We came in and we bought it for cash,” Osborne said in a March 2021 video. “We’re basically (acting as) the bank as we finalize our plans with the city and finalize our plans with architecture, unit outlay, and everything else.”

Osborne indicates the deal to buy the building was in place in the spring of 2020. At the time, McClatchy was going through bankruptcy proceedings.

Interior revamp to start

Osborne says in the YouTube series that Cedar Creek plans some limited office space in the building on the second floor, which it would lease out. He also says they will include a co-working space.

A building permit filed with the City of Boise says the company will spend $5.41 million on the remodeling effort. The company spent much of last year on demolition inside the former newspaper building.

The building’s footprint will remain essentially unchanged, with storage units of varying sizes filling every nook and cranny of the building – from the newsroom to sales offices to a former classified ad service center to the printing plant area.

The Statesman’s existing lobby will remain used for a product display center and showroom for the future storage facility.

Don Day - BoiseDev Editor & Founder
Don Day - BoiseDev Editor & Founder
Don is the founder and publisher of BoiseDev. He is a National Edward R. Murrow Award winner and a Stanford University John S. Knight Fellow. Contact him at [email protected].

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