Karcher Truck and Sales had been a staple of the Nampa, Idaho, community for decades when the Shigeta Family Trust decided it was time to sell the business. The transaction would be the end of an era for the Shigetas but a tragic accident that nearly took the life of a family member during negotiations would put the deal in perspective.
George Shigeta founded Karcher Truck and Sales along with his wife, Diane Tani. Karcher was a second career for the couple, who previously ran a family farm in New Plymouth, Idaho, immediately following Shigeta’s military discharge after World War II.
Shigeta passed away in 2021, and in 2023 the family listed the industrial property for sale at $420 a square foot, a competitive price given the property’s proximity to the freeway and the bustling Treasure Valley development.
The trust found a willing buyer in EquipmentShare, a tech-enabled construction equipment rental company headquartered in Columbia, Missouri, looking to expand its market. But during due diligence on the property, the Shigeta family was struck by tragedy when an accident involving several siblings. One of the family members and key decision-makers was potentially paralyzed from the neck down. As the condition worsened, it was feared the individual may not even survive.
A plan was quickly put in place to allow another sibling who was not involved in the accident to step in and handle the process with the broker going forward. While the family was worried for their sibling’s health, they also did not want to disclose their circumstances fearing the effect it could have on the deal.
“The goal to sell the business was a priority, but nothing compared to the care and honor of their loved one,” said Drey Campbell, a broker for Lee and Associates Idaho who worked on the Karcher sale.
In the end, the deal went through, and the seller lived. It was a bittersweet conclusion to a multigenerational business. The sale has been selected as a 2024 CoStar Impact Award winner for sale/acquisition of the year for Boise City/Nampa, as judged by a local team of real estate professionals familiar with the market.
About the Deal: George Shigeta and Diane Tani met in Minneapolis after Shigeta was discharged from the U.S. military where he served as an infantryman on the European front.
What the Judges Said: "Great location in Nampa, Idaho. Easily supports the continued growth in Canyon County," said Keith Cochran, a broker with Michener Investments.
They Made it Happen: Drey Campbell of Lee and Associates Idaho represented the buyer and seller. Matt Mahoney also of Lee and Associates Idaho acted as the broker.