commercial real estate symposium - boma...

19 th AnnualCOMMERCIAL

REAL ESTATE SYMPOSIUMFEBRUARY 9, 2016

HOSTED BY THE BUILDINGS OWNERS

AND MANAGER’S ASSOCIATION

OF IDAHOwww.ctagroup.com

BOMA Idaho Symposium Event Guide 20162

From left to right, top row: 8th & Main, Boise | St. Luke’s Ambulatory Surgery Center, Meridian | Library Square, Nampa | City Center Plaza (rendering), Boisebottom row: WinCo Foods in Boise, Eagle, Meridian, Nampa, and Twin Falls | LaPointe Student Housing, Boise | Canyon County Administration Building, Caldwell

www.esiconstruction.com | 208.362.3040 | www.esi-express.com

Goals are simply dreams with work boots on.Our construction teams are experts in building and renovating facilities, helping communities throughout Idaho realize their dreams.

Thank you, Idaho, for choosing ESI and ESI-Express. SPECIAL PROJECTS DIVISION

WESJOSTZions [email protected]

Economic Outlook


Looking back over 2015, Idaho experienced strong economic growth, and continues to show signs of positive performance for the upcoming year. Key indicators such as population, employment, personal income and housing point to an optimistic outlook for the state in 2016.Idaho’s population grew by 1.2 percent from 2014 to 2015 reaching a total of 1.65 million people,

according to the U.S. Census Bureau. While this growth is slightly lower than last year, Idaho still outpaces the nation’s 0.8 percent growth for same time period, and is the 11th fastest growing state

in the U.S.

Idaho’s unemployment rate remained among the lowest in the nation for November 2015 at 3.9 percent, compared to the national rate of 5.0 percent. In November 2015 Idaho grew by

27,600 jobs from a year earlier, an increase of 4.2 percent, making Idaho number one in the nation for job growth for the second month in a row.

Industries representing the strongest growth for Idaho included Construction and Manufacturing, at 10.7 percent and 8.6 percent, respectively. Only two sectors experienced job losses — Information (which includes telecommunications, broadcasting,

publishing and data processing) fell by 6.4 percent and Natural Resources and Mining dropped 5.4 percent.

Idaho’s positive momentum will continue into 2016, with nonfarm employment projected to grow at an annual rate of 2.6 percent, according to Moody’s

Analytics. Idaho can expect to add just over 18,000 jobs to its economy, bringing total employment to just over 705,000 in 2016.

Continued demand for electronics will translate into an expectation of more jobs for the manufacturing industry, while faster home building will

lead to additional jobs in construction.

The oversupply of oil and subsequent drop in oil prices will contribute to low employment growth, and even loss, within the Natural

Resource and Mining sector.

According to the CoreLogic Home Price Index, home prices remained steady in Idaho from October 2015 to November

2015, but showed an increase of 8.5 percent over the previous year, and are projected to continue to increase in 2016, although at a slower pace.

Forecasts indicate single-family permits will approach 10,000 in 2016 and multifamily permits (units) will

come close to 4,000 — a reflection of continued improvement in the state’s residential construction.

Low foreclosure rates compared to the nation coupled with strong population growth and

favorable business conditions will help Idaho’s housing market continue to grow in 2016.

Zions Bank is a Division of ZB, N.A. Member FDIC. Content is offered for informational purposes only and should

not be construed as tax, legal, financial or business advice. Please contact a professional about your

specific needs and advice. Content may contain trademarks or trade names owned by parties who

are not affiliated with ZB, N.A. Use of such marks does not imply any sponsorship by or affiliation

with third parties, and ZB, N.A. does not claim any ownership of or make representations

about products and services offered under or associated with such marks.

Wes Jost is the senior vice president and regional director of Zions Bank’s Idaho Real Estate Banking Group. In this role, he is responsible for overseeing all of the bank’s commercial real estate lending in Idaho, including construction and residential builder financing.

Wes has more than 16 years of experience in real estate and commercial banking. He joined Zions Bank in 2009 as a commercial real estate relationship manager, generating and servicing commercial real estate loans and developing lending relationships.

Wes earned a bachelor’s degree in finance from Indiana University. He is active in the community as treasurer and executive board member of the Urban Land Institute-Idaho Chapter and as a board member of the Downtown Boise Association. Wes and his wife, Joanna, live in Boise with their two daughters.

BUILDING THE FUTURE IS EASYwhen you have a history like ours.

We’ve been serving you for more than 140 years, and we will be here for years to come.

Zions Bank’s Real Estate Banking Group provides a multitude of products and services to meet your commercial and

residential real estate financing* needs.

For more information call 208-501-7531.

Loans subject to credit approval. Restrictions apply. NMLS# 467014

A division of ZB, N.A. Member FDIC. Equal Housing Lender

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You’ve heard real estate is all about location, location, location. We say it’s all about making the right move at the right time. Our Real Estate Group understands this fast-paced industry and can help you make important strategic decisions about transactions, financing, and land use that will pay off. And, best of all, our nationally renowned legal services come with a local address.

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BOMA Idaho Symposium Event Guide 2016 7

4.......... ECONOMIC OUTLOOK Wes Jost, Zions Bank

9 .......... PROGRAM AGENDA

10........ CONSTRUCTION AND DEVELOPMENT MARKET UPDATE Capital City Development Corp

12 ........ MEDICAL MARKET UPDATE Mike Chidester, Saint Alphonsus Health System

15 ........ MESSAGE FROM THE PRESIDENT Krisjan Hiner, Stack Rock Group

16 ........ OFFICE AND INDUSTRIAL MARKET UPDATE DJ Thompson, Cushman & Wakefield Commerce

18 ........ INVESTMENT MARKET UPDATE Peter Oliver, SIOR, CCIM Thornton Oliver Keller Commercial

20 ....... SAVING ENERGY: A SMART BUSINESS DECISION N. Vern Porter, Idaho Power

22 ....... MARKET WATCH Kristi Larson, Angie Emmons and Marc Stimpson Thornton Oliver Keller Commercial

24 ....... RETAIL MARKET UPDATE Brook Blakeslee, Colliers International

26 ....... CITY OF BOISE UPDATE Boise City Planning & Development Services

28 ....... NAMPA CITY REPORT

30 ....... KEYNOTE SPEAKER Mark Matteson

31 ........ 30 YEARS OF BOMA LEADERSHIP

39 ....... LEASING GUIDE LISTINGS

70 ....... INDEX OF ADVERTISERS

2016 OFFICERS AND BOARD OF DIRECTORS

OFFICERSPRESIDENT.................Krisjan Hiner, Stack Rock Group

208.407.2320 [email protected] PRESIDENT .....Ryan Cleverley, Gardner Company

208.246.8909 [email protected] ...............Max Clark, Capital City Development Corp

208.384.4264 [email protected] ...............Kristi Halford, Harris & Company PLLC

208.333.8965 [email protected] PRESIDENT.....Sylvia Hampel, Clearview Cleaning

208.384.9264 [email protected] (BOMA Association Executive) ......... Jana Knoll

208.377.5775 [email protected]

DIRECTORSSteve Panzella ...........RMR Real Estate Services

208.321.9168 [email protected] Dawn Sanchez ...........Saint Alphonsus

208.367.6960 [email protected] Crenshaw ..Cushman & Wakefield Commerce

208.287.9500 [email protected] Cranney ..........Hawley Troxell

208.344.6000 [email protected] Shaffer .................Thornton Oliver Keller Commercial

208.378.4600 [email protected] Hintze ...............Cutting Edge Landscape

208.378.4588 [email protected] Schnebly ..........Colliers International

208-345-9000 [email protected]

Table of Contents

Front row L to R: Dawn Sanchez, Steve Panzella, Krisjan Hiner, Sylvia Hampel, Jana Knoll

Back row L to R: Max Clark, Justin Cranney, Jeff Shaffer, Michelle Crenshaw, Mitch Hintze, Ryan Cleverley, Kristi Halford

Welcome New Board Member KELLY SCHNEBLYColliers International


We’ve been living and breathing

commercial development in our home

state since 1972. And whether we’re

building, managing or consulting on

a property, you can be sure we’ll work

hard to create a better project, and

a better Idaho.

We knoW Idaho.

Oppenheimer Development Corporation | 877 West Main, Boise 83702 | (208) 343-4883 | www.OppenheimerDevelopment.com

AA-203 ODC Ad ME02.indd 1 7/11/14 10:29 AM

Oppenheimer Development Corporation | 877 West Main, Boise 83702 | (208) 343-4883www.OppenheimerDevelopment.com

Program Agenda

6:30 – 7:15am REGISTRATION TRADE SHOW OPENS NETWORKING

7:15 – 7:35am BREAKFAST AND PRE-EVENT SLIDE SHOW

7:35am GREETING AND PRESIDENT’S MESSAGE Krisjan Hiner, Stack Rock Group Master of Ceremony

7:45am MAYOR’S ADDRESS David Bieter, Boise City Mayor

REGIONAL ECONOMIC PRESENTATION Wes Jost, Zions Bank

SAVING ENERGY: A SMART BUSINESS DECISION N. Vern Porter, Idaho Power

9BOMA Idaho Symposium Event Guide 2016

Our mission is to represent, educate and promote the interests of

professionals who own, manage or support

commercial real estate in

Idaho.

8:05 – 8:50am LOCAL SPEAKERS Downtown Boise Construction Highlight Tommy Ahlquist, Gardner Company

Office and Industrial Market Updates DJ Thompson, Cushman & Wakefield Commerce

Investment Market Update Peter Oliver, Thornton Oliver Keller Commercial

Construction & Development Market Update Video Sponsored by Capital City Development Corp.

Retail Market Update Brook Blakeslee, Colliers International Medical Market Update Mike Chidester, Saint Alphonsus Health System

8:50 – 9:30am KEYNOTE SPEAKER

Mr. Mark Matteson “It’s About Time” and “The 10 Commandments of Great Managers”

9:30 – 10:00am TRADE SHOW IS OPEN

30TH ANNIVERSARY SYMPOSIUM EVENT GUIDE SPONSOR:

ANNIVERSARY SPONSORS:

Construction and Development

10 BOMA Idaho Symposium Event Guide 2016

INTERVIEWS:John Brunelle - Executive Director, Capital City Development CorpDoug Woodruff - Capital improvements Project Manager, Capital City Development CorpShellan Rodriguez - Project Manager over Property Development, Capital City Development CorpNeil Nelson - President, Engineered Structures, Inc.

SPECIAL THANKS TO:Max Clark - Parking and Facilities Director, Capital City Development CorporationLaura Williams – Project Specialist, Capital City Development CorporationTommy Ahlquist – Chief Operating Officer, Gardner Company {City Highlight Video: Downtown Boise}

“It’s important that people know that CCDC is engaged in the community even though we’re behind the scenes most of the time, that we have this unique financial power to support projects with a tax increment that is generated by building owners and developers and we need to put that money back into the districts where we operate. We also have the ability to go into long-term debt or to arrange for long-term borrowing which other public entities don’t have. We want to bring those powers to development to improve downtown Boise and let people know that we’re doing it, that we are here and we are available to be pro-active.”

John Brunelle, Executive Director, Capital City Development Corp

“It seems like a lot of those companies that retracted are now expanding again and then obviously the thing that cannot be overlooked is JUMP and Simplot World Headquarters going on at the same time. The synergy between Eighth & Main, City Center Plaza, JUMP and Simplot World Headquarters – there isn’t a city in this country that would not love to have that investment and that capital infused into their downtown! We are very grateful that all of this happened at the same time because I think the whole community and the whole economy will benefit.”

Tommy Ahlquist, Chief Operating Officer, Gardner Company

VIDEO SPONSOR

“I think CCDC’s role is to help take away a little bit of the risk for those initial kinds of developers to come in especially in housing. We help provide public improvements, that is really what we’re allowed to do, but we try to be really transparent and work closely with developers to understand what their needs are and then meet them accordingly.”

Shellan Rodriguez, Project Manager over Property Development, Capital City Development Corp

“If I had to give you my list, my projections for 2016 and 2017 in terms of development and construction - it would be hotels, we’re going to see these hotels built out and there could be as many as 600 rooms two years from now. Then education - you are going to see the school bonds built through. An multi-family – you are going to continue to see that get built out and so those are really kind of the top three that I see among the other major companies that are going to do their own development.”

Neil Nelson, President, Engineered Structures, Inc.

“The Grove Plaza is a very exciting project – it was originally built in 1985 and with 30 years of use and enjoyment, bricks are starting to buckle, some of the trees are starting to decline and the uses around the plaza have changed so it’s time for a full renovation of the plaza to set up this public space for another 30 years of enjoyment.”

Doug Woodruff, Capital improvements Project Manager, Capital City Development Corp

CITY CENTER PLAZA

www.CCDCBoise.com121 N 9th St Suite 501 | Boise, Idaho 83702

(208) 384-4264

COLLABORATE. CREATE. DEVELOP. COMPLETE.BOISE’S REDEVELOPMENT AGENCY SINCE 1965.

MIKE CHIDESTERSaint Alphonsus Health [email protected]

Medical Market Update


Imagine visiting Lake Cascade for a weekend retreat with family. After a day on the lake, someone in your group suddenly comes down with a painful

migraine, accompanied by vision loss and general weakness, especially on one side of their body—classic

symptoms of a stroke. You rush the person to the emergency room at Cascade Medical Center.

While the emergency room staff care competently for the patient, you are 90 minutes

by ambulance and 30-45 minutes in a helicopter from a medical center with a stroke-trained neurologist. The neurologist is crucial

because he or she is able to determine whether tPA, a clot-busting drug that can greatly influence survival and recovery, should be administered to the patient.

Every minute counts.

Telemedicine—providing healthcare at a distance using telecommunications and information technology—is the answer in a scenario such as this. Via videoconference, a physician in the Saint Alphonsus telestroke program

could assess the patient and provide guidance much more quickly than could occur under any transport scenario. Saint Alphonsus is proud to have a strong telehealth program across many disciplines.

Classic telemedicine solved the distance issue. But now, with the ubiquity of smart phones, tablets, and other handheld devices, telemedicine is moving in a new direction. Over time, healthcare

visits for low acuity issues—such as sinus infections, upper respiratory infections, and pink eye—will likely move increasingly from clinics to the home setting.

In fact, a pilot program at Saint Alphonsus now allows employees and their families to have a physician “e-visit” for certain low-acuity problems. Essentially, this service could

allow a parent with an iPad to have their child seen by a medical provider from the child’s bedroom—a much more convenient alternative to driving to a clinic!

Telemedicine would seem to reduce Saint Alphonsus’ real estate requirements—less physical space needed for patients. At the same time, new clinics

are being developed with areas specifically designed for providers to perform telehealth visits. So this early in its development, the

larger effects on real estate remain to be seen.

But one thing does seem sure—an interesting future in healthcare is

coming soon to an iPhone near you.

Mike Chidester is Regional Director Corporate Real Estate for the Saint Alphonsus Health System, a four-hospital, 714-bed regional, faith-based Catholic ministry with over 4,300 associates and 950 medical staff. Mike oversees all aspects of real estate-related planning, transaction, and asset management, including facility leasing and development, land and building acquisition and disposition, long-range strategic real estate planning, and the alignment of Saint Alphonsus’ ambulatory physician network with its physical facilities. Previous to joining Saint Alphonsus, Mike worked in medical real estate development for Salt Lake City-based Boyer Healthcare Properties, as well as inpatient and outpatient healthcare consulting. He lives in Meridian with his wife and four children.

SAINT ALPHONSUS BOWN CROSSING HEALTH PLAZA

All about advancing care.

SaintAlphonsus.org (208) 367-DOCS

Using computers and specialized monitoring equipment, Saint Alphonsus specialists can remotely access community hospitals and clinics to discuss appropriate diagnosis or treatment options with doctors, clinical staff, patients and their family. Planning, designing and building for this new age of medicine takes into consideration room size, technology infrastructure, new types of medical equipment, work spaces and more. At Saint Alphonsus, we appreciate the partners who have helped us deliver this state of the art care. Because strong partnerships, like great healthcare, are all about you.

The best kind of healthcare provides quality care where and when you need it. That’s why Saint Alphonsus is advancing

care by utilizing telemedicine technology to deliver specialized consults and care to

the remotest parts of our region.

Message from the President

Welcome and thank you for attending the 19th annual Commercial Real Estate Symposium. Our first year as BOMA Idaho is complete – and we are thrilled that building owners, managers and entities supporting commercial real estate outside of Boise now have easy access to all of BOMA’s resources. This is a great step forward for our industry and for building owners and managers across Idaho.

At BOMA Idaho, we reflect on the past year with pride at the achievements made by our members in many areas including advocacy efforts, annual golf tournament, monthly luncheons and programs, educational opportunities, networking and participation by several board members at national and regional conferences.

In 2016 the goals of BOMA Idaho are to:• Provide our membership with educational and

professional opportunities at monthly luncheons, webinars and special educational events

• Provide our membership with networking opportunities at our monthly luncheons, golf tournament, after-hours and special events

• Be proactive in governmental affairs through the national BOMA PAC and state and local involvement

• Be the leader in providing information for our membership by providing the most current and accurate information in our leasing guide for commercial building leasing, vacancy and ownership

This event has enjoyed such success over the years because of the support of sponsors, partners, BOMA members and attendees. On behalf of the BOMA Idaho board of directors I would like to extend a personal thank you to our platinum sponsors, Gardner Company, ESI, Zions Bank and Idaho Power; this year’s sponsor

of the Construction & Development Video, Capital City Development Corporation; anniversary sponsors, Oppenheimer Development Corporation and Hawley Troxell; anniversary edition of the Symposium Event Guide sponsor, Cushman & Wakefield Commerce; and keynote sponsor, Saint Alphonsus Health System. BOMA also offers thanks to gold sponsors, Advanced Sign & Design, BELFOR Property Restoration, Clearview Cleaning, Cole Architects, PLLC, Colliers International, HC Company, Inc. and Idaho Business Review. Silver sponsors include American Cleaning Company, EKC, Inc., and RMR Real Estate Services. Our bronze sponsors are Associated Insurance Services of Idaho and Nationwide Insurance, Brighton Corporation, Disaster Kleenup, DK Commercial, GCA Services, Orchard Partners, PETRA, Inc., Premier Energy Solutions, RME, Inc., Total System Services, Upson Company and Western Building Maintenance. We also thank our advertisers, Masonry Center, The Sundance Company and RMH Company.

The support of these generous sponsors allows BOMA Idaho to host this event, offer education and monthly programs to its membership throughout the year as well as send our members to BOMA International convention and medical office conferences all over the country. Thank you!

Members of the BOMA Idaho Board and I invite you to become part of our association and develop relationships that will nurture your career and business, build partnerships and strengthen our industry and community.

Thank you again for your support of this great event.

Krisjan HinerCo-FounderStack Rock Group :: Landscape Architecture



DJ THOMPSONCushman & Wakefield [email protected]

Office/Industrial Market Update


DJ Thompson is an Associated Director - Office Specialist with Cushman & Wakefield Commerce focusing on office transactions. DJ has spent his life surrounded by the real estate industry. The family business was the brokerage of Bill Thompson Co. which was very active in Nampa real estate for over 20 years. The search for a location for his own small business was intriguing and prompted him to pursue a career in commercial real estate. He has now become a very passionate real estate agent for his clients. DJ prides himself on being enthusiastic, detail-oriented, diligent and responsive during all real estate transactions. He is specializing in tenant / landlord representation and investment sales within the office segment. DJ thrives on the aspects of negotiation, financial analysis and research involved in real estate.

OFFICEThe markets for Office in 2015 continue to be brisk with many submarkets including downtown and Eagle achieving their lowest vacancy rates since the recession. Demand for downtown space continued

to be strong as exhibited by new tenants such as Paylocity taking 13,100 square feet at the CW Moore Plaza. Tenants also continued to want to move west toward the central part of Treasure Valley

as exhibited by The Village at Meridian leasing over 52,000 square feet with Mark Monitor and MassMutual. These leases took Meridian’s vacancy rate to 9.1% but in the case of Mark Monitor, at

the expense of the West Boise submarket which they vacated where vacancy rose to over 13%.

Tenants’ main priorities are flexibility of term to accommodate potential growth and providing

higher quality work environments to their employees. Rental rate, while always a consideration, is often not the deciding

factor in where a tenant chooses to sign a lease.

Availability of large contiguous office space, especially over 10,000 square

feet, is low. It will be critical for building owners to analyze

the competition in their sub market to other availabilities of comparable size, not necessarily overall vacancy rates, in order to price

their property correctly and better understand lease negotiations.

INDUSTRIALThe Industrial market was very active in 2015 with new arrivals to the

market such as Heartland RV purchasing a 250,000 square foot facility in Nampa and Ida Pine Mills purchasing a 175,000 square foot facility in Meridian. Other local, owner-user moves such as Hayden

Beverage purchasing the 177,000 square foot Weyerhauser facility in Southeast Boise helped push vacancy levels down and also further limited existing options for businesses looking

to relocate from out of state. Low vacancy rates and rising lease rates prompted new construction in 2015 to reach

its highest level since 2008 at over 300,000 square feet. Smaller spec projects were successful in their leasing

efforts but speculative construction on a large scale has yet to occur.

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Investment Market Update

PETER OLIVERThornton Oliver Keller [email protected]


Peter Oliver’s 27+ years of real estate sales, leasing and development experience has given him the distinction of being one of the Thornton Oliver Keller’s top performers. Peter, who co-founded Thornton Oliver Keller, is a firm partner and has been recognized as the company’s 2013 and 2014 “Salesperson of the Year.” Prior to re-joining Thornton Oliver Keller in 2011, Peter was a partner at Brighton Corporation where he co-developed a number of high-profile projects ranging from industrial to commercial to residential. Peter’s commercial real estate abilities are varied and notable. His expertise covers the gamut of property types and he has been involved in the development or sale of numerous local projects of significance.

Peter currently serves on the Greater Boise Auditorium District Board of Directors, the Bishop Kelly Foundation and TitleOne Corporation’s Advisory Board.

Peter graduated from the University of San Diego in 1988 with a Bachelor’s Degree in Business Economics.

Throughout 2015 the commercial real estate market continued to recover with vacancy rates across all property types decreasing to levels not seen since before the global financial crisis. In response, the investment market saw another strong year, with transaction volume at its highest rate since 2007. Although transaction volume increased, supply is limited and, as a result, overall market

conditions are consistent with last year. Most available product today is healthy with stronger cash flow and increased occupancy. While lease rates were inflated at the height of the market, rents

today are more in line with the market and still have significant upside due to vacancy rates dropping market wide. Due to constrained

supply, the prevalence of off-market transactions continues to increase.

When searching for product, agents sometimes cannot fill a requirement

based on actively marketed product, and rely on prospecting and existing relationships to identify the

right property for their clients. Transaction volume for 1031

exchanges is up from last year, and out-of-state investors

continue to look to Idaho as a stable market to invest their money. 1031

exchange buyers are looking to exit states with unfavorable tax structures, and invest in product that yields higher returns in Idaho. Cap rates have fluctuated slightly from

2014, but have largely stabilized on a local level. With the commercial market hovering near pre-recession vacancies and lease rates on the

rise, 2016 should see another strong year of investment activity. Stable single-tenant NNN properties leased at market rates will

continue to be in high demand, especially with buyers looking for hands-off investments to place in their portfolios. Quality supply will remain scarce, leading to fierce competition for this product.

Shortened due diligence periods and quick closings will remain commonplace next year, especially for 1031 buyers. The

uncertainty of a presidential election year, coupled with the rising trend in interest rates by the Federal Reserve Bank,

will lead some investors to be more conservative over the next 12 months. However, this hesitancy will have a limited impact on the overall commercial investment

market. Where the impact will be most visible is in cap rates.

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N. VERN PORTERIdaho [email protected]


Vern Porter leads Idaho Power’s Customer Service & Regional Operations and Customer Operations Engineering & Construction, an organization of over 1,100 employees focused on providing exceptional service to our customers.

Porter also leads a company-wide safety initiative to transform the safety culture—improving safety for employees and the public.

Porter joined Idaho Power in 1989 after starting his career with Pacific Gas and Electric Company. Porter is a graduate of Brigham Young University, earning his Bachelor of Science in electrical engineering in 1985 and Master of Science in 1986. He also received his Executive Master of Business Administration from Boise State University in 2013.

Porter serves on the Idaho Technology Council Board of Trustees and on the Board of Directors for the Boy Scouts of America Ore-Ida Council. He loves the outdoors and enjoys backpacking, fishing and early-morning waterskiing.

If every American home replaced just one incandescent light bulb with one that has earned the ENERGY STAR certification, we would save enough energy to light two million homes for a year and save about $460 million in annual energy costs.Idaho Power believes in using energy wisely, whether it’s homeowners switching out light bulbs or business customers deciding how best to use energy in facilities big and small. Our energy-saving

programs help customers in many ways, including:

• Delaying the need to build new sources for generating electricity, which helps keep rates low.

• Helping business owners with their bottom line—save energy, save money.

• Providing incentives to reduce up-front costs and shorten payback periods.

• Finding energy-saving technologies to decrease O&M requirements.

If you have already taken advantage of Idaho Power’s programs, congratulations on your wise investment. If you haven’t yet, contact Idaho Power’s energy advisors, and let us help you get started.

As important as wise energy use is, Idaho Power also believes in the importance of safety. As part of its safety culture, Idaho Power prohibits the use of hand-

held devices while operating vehicles on company business. This shows a dual commitment to the safety of the communities we serve and our employees. Raising awareness of distracted driving has grown from a company initiative

into a larger community partnership with multiple businesses supporting the cause. We encourage everyone to put down the phone and Just Drive.

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Market Watch

OFFICE OUTLOOKVacancy should continue to decline for the first half of 2016, as demand for office space remains high. The second half of the year will hold more change as the 206,000 square foot City Center Plaza and 364,000 square foot Simplot Headquarters are completed in Downtown Boise. Clearwater Analytics will likely vacate nearly 60,000 square feet in three buildings as they consolidate operations at City Center Plaza. Simplot will vacate over 100,000 square feet in One Capital Center and various other locations around the valley when they occupy their new headquarters at JUMP. Even with these large vacancies, absorption is expected to remain similar to recent years.

With vacancy improving, it is expected that lease rates will continue to climb, albeit slowly. Downtown Class A rents may slow as product left behind by Clearwater Analytics and Simplot enters the market later in the year. Due to a lack of available product over 50,000 square feet, particularly in the downtown core, these spaces could be backfilled before 2017.

The Ten Mile interchange may see commercial construction in the coming year. There are a handful of tenants looking to break ground north of the freeway in the next 12 months. This area is primed for development because of the new interchange, central location in the valley, and easy freeway access.

INDUSTRIAL OUTLOOKTenants and buyers will face a tighter market in 2016. Vacancy will likely decline, however it will not be as pronounced as in 2015. The continued rebound of the market will make it difficult for growing companies to find available space that fits all of their needs. They will likely face compromises in terms of higher rent, location, or functionality.

With vacancy at levels last seen in 2007 and absorption remaining strong, lease rates are expected to continue their rise in 2016. Demand remains high, leading to quick occupancy of quality spaces that enter the market. Newly constructed product, which fetches higher lease rates, will also drive up rents. A rate increase of 5-10 percent in the coming year seems likely, with 3-5 percent bumps in renewals becoming commonplace.

Speculative construction is expected to be strong in 2016. In most cases, the developers of these new projects have owned the land they are building on for years. Current land values and lease rates make it difficult for new speculative construction to pencil if the land is purchased at today’s prices. An exception can be made for land sales to end users. Sales of well-priced, well-located land could increase as owner-users buy land to construct a building that fits their exact needs.

RETAIL OUTLOOKWhile online shopping continues to grow each year, it still makes up less than 10 percent of overall sales. However, technology is becoming an increasingly useful tool in assisting retailers. Sixty percent of consumers report doing more research online before making a purchase. How retailers use their space in the coming years will continue to evolve, with some retailers opting to give back space when it comes time to renew, or adding more warehouse space to their stores to accommodate online orders. Even with these changes, some industries remain “online proof,” such as restaurants, discount retailers, and fitness facilities.

Lease rates will improve over the next 12 months as retail demand remains strong and some of the better located Class B/C centers lease up. Vacancy will bump up in the first quarter of the year as Kmart vacates 98,000 square feet at Five Mile and Fairview. After this initial uptick, vacancy should improve throughout the year.

Due to strong population growth, the Boise MSA will continue to show up on more retailers’ short lists for expansion opportunities. As a result, pad sales and transaction activity will remain strong in the coming year. Rapid population growth in North Meridian will drive development in this area, especially near the Chinden and Linder intersection.

By Kristi Larson, Angie Emmons and Marc StimpsonThornton Oliver Keller Commercial Real Estate


VOLUME 1 IDAHO BUSINESS REVIEW 2015

Renewable Rooftops

T he views from Boise’s tallest buildings have always been spectacular. Far off, the curves of the foothills beckon. In season, the city of trees shows its greenery to advantage, and downtown construction provides nonstop activity. But the higher you get, the more you see the rooftops of other buildings. While some cities, such as Chicago and San

By Doug CopseySpecial to the IBR

See COVER STORY, page 10

ROOF PLANTINGS PROVIDE COOLING POWER, PATIO SPACE

INSIDE THIS ISSUEBoise’s LIV District 3A slew of standards 4Low-water landscaping 5Expert opinions 1 0Indoor air quality matters, too 14

CBC ADVISORS The Intermountain West’s largest privately held Commercial Real Estate firmwww.CBCadvisors.com | #CBCAdvisors

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Retail Market Update

BROOKBLAKESLEEColliers [email protected]

Brook Blakeslee, team leader of the Colliers Retail Services Group, has been involved in commercial real estate brokerage since 1988. He began his career with Coldwell Banker in California and has been with Colliers International Boise since its inception, specializing in retail and office leasing and sales and providing professional services to tenants and landlords; completing more than 2,000 transactions.

Mr. Blakeslee has executed tenant representation assignments for McDonald’s, Wells Fargo, Home Depot, JoAnn Stores, PetSmart and Harbor Freight Tools. He has also worked on shopping center leasing assignments for Westpark Towne Plaza, Gateway Center, Meridian Crossroads and more.

In addition, Mr. Blakeslee has served as Co-Chairman of Colliers Retail Practice Group covering the United States and Canada, and is a founding member of the Colliers Retail Steering Committee. Furthermore, Mr. Blakeslee has worked on projects with the Downtown Boise Association, Boise Chamber of Commerce and the Urban Land Institute.

The year 2015 was by far the best year commercial real estate has seen in years. The retail market in the Treasure Valley saw over 500,000 SF of positive absorption during 2015, dropping vacancy rates valley wide nearly an entire percentage point. The average retail vacancy rate is currently in the 6.5% zone, and we expect to see sustained growth.

Retail demand will grow because of the continued increase in single-family housing throughout the Treasure Valley. Economic organizations around the Valley are predicting

that the area will add roughly 150,000 people over the upcoming 4-5 years.

National retailers continue to look to the Boise Metro area for expansion opportunities. Omni-Channel Retailing, using a variety of channels

in a customer’s shopping experience, is gaining traction and is hurting some brick and mortar locations. By no means will box

stores become obsolete anytime soon, but heavier online purchasing is shrinking the

square footage previously needed by box stores. A trend to watch for here is

filling old box locations with unique concepts like indoor obstacle courses, call centers, athletic clubs, etc. Any new construction for box locations will be seen in already thriving shopping centers or developing shopping centers on the

outskirts of the urban area where a lot of residential development is occurring.

Anticipated trends for 2016:

• Soft good retailers moving to popular locations like the Village at Meridian and the Karcher Interchange;

• Restaurant and leisure activities gaining more traction in the downtown Boise area;

• Retail growing at a slightly slower pace than 2015; and

• Focus increasing on the following “hot” areas: Downtown, Meridian (Eagle Rd, Chinden and Linder), Karcher

Interchange, and Southeast Boise.

With jobs and housing increasing throughout the Valley, retailers should see sales continue to grow. New areas of development will emerge in northwest Meridian

and Canyon County. 2016 should be a good year for development and retail store expansion.


In 1997, Colliers sponsored a successful Everest expedition helping two Canadian mountaineers pursue their dream. Today Colliers is still helping individuals achieve their goals.

REPRESENTATION YOU CAN TRUST

LIVE, WORK & PLAY DOWNTOWNDowntown Housing Incentives

Downtown Boise is changing before our eyes. We have a once-in-a-lifetime opportunity to shape the future of our city. We need to take a leap of imagination and envision a Downtown with unique residential neighborhoods, a vibrant workforce, and a first-rate transportation system.

We imagine a walkable, connected Downtown where tourists and residents alike can enjoy Boise’s cultural offerings and explore our natural amenities. A growing Downtown that includes Boise State University, St. Luke’s Medical Center and the West End. An innovative Downtown that drives Boise’s economic engine. A Downtown that is lasting, innovative and vibrant.

In addition to business activity, housing is an essential part of a thriving, active downtown. The City of Boise set a goal to introduce 1,000 new residential dwelling units within Downtown by 2020. To help meet the goal, the City designed a new “Downtown Housing Incentives” tool to encourage the development of market rate and affordable housing units.

Housing projects located within the Downtown Planning Area may qualify for incentives from the City of Boise. For more information, go to pds.cityofboise.org/Downtown.

BUILDING EXCELLENCE AWARDS2016 Building Excellence Awards | May 19, 2016

9th Annual Building Excellence AwardsThe City of Boise will honor the building owners and managers whose renovations and upgrades make their buildings safer, more accessible and sustainable at the BOMA Idaho luncheon on May 19th, 2016. To learn more or nominate a project for this year’s awards, go to pds.cityofboise.org/bea.

2015 Award Recipients• Excellence in Accessibility – Henriksen Butler

• Excellence in Fire & Life Safety – Boise Brewing

• Excellence in Commercial Sustainability – The Flicks

• Excellence in Commercial Sustainability – Idaho Power Plaza II

• Excellence in Residential Sustainability – The Doyle House

• Excellence in Design – The 951

• Mayor’s Choice Award – The Owyhee

PHOTO CREDIT: HENRIKSEN BUTLER PHOTO CREDIT: THE OWYHEE


Nampa City Report

The City of Nampa is thriving and the environment is ripe for new business development. Several city departments help new businesses and investors launch new projects or expand current services. Nampa is home to both small and large, established and new, food processing and manufacturing industries. The College of Western Idaho often partners with the city to provide the necessary skilled training to provide a workforce necessary for a company to grow. We also work closely with the Boise Valley Economic Partnership, Idaho Department of Commerce, Department of Labor and Canyon County Commissioners to provide comprehensive incentives where appropriate.

We are proud of our newest success stories that showcase the depth of our partnerships to make Nampa what it is today.

Beth Ineck is Nampa’s Economic Development Director and heads up our retention, expansion and attraction team. She is on the front line, answers inquiries and helps firms decide if Nampa is the best place to locate a new business or industrial facility. Robin Collins is the Assistant Economic Development Director. Beth Ineck | 208.468.5488 | [email protected] Collins | 208.468.5416 | [email protected]

Norm Holm has years of experience as the Planning and Zoning Department Director and can help a new business navigate the zoning and design regulations. Norm Holm | 208.468.5446 | [email protected]

Patrick Sullivan leads the Building Safety and Facilities Development Department and has a customer service friendly team in place to help with the building permitting and inspection processes. Patrick Sullivan | 208.468.5445 | [email protected]

Michael Fuss has a team in place to answer questions concerning our city’s infrastructure, from the streets to the city’s essential utility services. Nampa’s sewer, water and irrigation services are designed with future growth in mind. Michael Fuss | 208.468.5420 | [email protected]

Nampa also encourages public-private partnerships. Nampa’s new public library and downtown garage are a result of such a partnership with The Gardner Company.

To learn more about Nampa’s key demographics and essential information for making Nampa the site for your next business venture, visit: whynampa.com or cityofnampa.us


mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]://www.whynampa.comhttp://www.cityofnampa.us/

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A committed writer, Mark has written five books: Freedom from Fear FOREVER, A Simple Choice, Wag More, Bark Even Less, It’s About TIME, and the international best seller, Freedom from Fear that has been translated into Japanese and French. Mark is also the author of four popular e-books: Presenting Like a Pro, Sales Success Strategies, Customer Service Excellence and Sparking Success Vol. 1 & 2, the best of his monthly e-newsletters that Mark has written 12 times a year since 2003. He writes a blog each week and posts Tweets and comments on Linked-In daily.

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1. Fall in Love With Your Work (Organization and Industry)

2. Become A Lifelong Student

3. Get Great At Sales (and Marketing)

4. Know Thyself (and Others)

5. Set Big Hairy Audacious Goals (and Lots

of Little Ones, Too!)

6. Track and Measure Everything

7. Reward Behavior You Want Repeated (the Window and the Mirror)

8. Hire Hard, Train Easy

9. Become a GOOD-Finder

10. You Have a Team of People

10COMMANDMENTS FOR MANAGERS

by Mark Matteson

HOW TO GET AND KEEP

YOUR DREAM JOB!by Mark Matteson

• Do What You Love

• Soar With Your Strengths

• Choose to Have a Great Attitude

• Smile

• Show Up Early & Stay Late

• Volunteer and Stretch Your Comfort Zones

• Update Your Goals On Your Birthday

• Commit to Becoming a Lifelong Learner

• Ask Open Ended Questions and Dominate the Listening

• It’s Not About You!


KEYNOTE SPONSOR


At BOMA Idaho, our mission is to represent, educate and promote the interests of professionals who own, manage or support commercial real estate in Idaho.

30 Years of BOMA Idaho Leadership2015 – 2016Krisjan HinerStack Rock Group Creative Landscape Architecture & Master [email protected]

2014Debbie CookThornton Oliver Keller [email protected]

2012 – 2013Sylvia HampelClearview [email protected]

2010 – 2011Stanley A. ColeCole Architects, PLLC [email protected]

2008 – 2009Calvin E. KidneyRetired from Wells Fargo WMG

2006 – 2007Geoffrey M. WardleGardner [email protected]

2005Larry J. ChaseChase Media Marketing, [email protected]

2004Gary GuntherGunther Tondrick & Goode Chtd.

2002 – 2003Jeremy MaloneOppenheimer Development [email protected]

2001Kindra HansenBoise Cascade Company

1999 – 2000Robert S. HosacRS Hosac, [email protected]

1997 – 1998Grove HummertThornton Oliver Keller [email protected]

1995 – 1996Brian BallardHawley Troxell Ennis & [email protected]

1993 – 1994Melodie JonesRetired from Oppenheimer Development [email protected]

1992Jerry Catt-OliasonBoise State [email protected]

1991Susan WishneyNorthwest Property Management, Inc.Winston Commercial Real Estate Services

1990Ronald J. TroyBLMNational Fish & Wildlife [email protected]

1989Steve EvansMacy’s Boise Towne [email protected]

1988In Memory of Larry Wickham

Died December 9, 2000Formerly of Anteco Enterprises

1987Greg Peterson

1985 – 1986Cathy ReedUsana Health Sciences, [email protected]

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Silver SPONSORS

ARCHITEC TURE • INTERIOR DESIGN • LANDSCAPE ARCHITEC TURE & PLANNINGELEC TRICAL ENGINEERING • MECHANICAL ENGINEERING • STRUC TURAL ENGINEERING

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208.336.4900www.ctagroup.com

Proud Supporters of BOMA and the AnnualCommercial Real Estate Symposium



• Janitorial• Windows• Entry Mats

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DAVID TURNBULL208.378.4000

www.brightoncorp.com

As Idaho’s largest diversified

developer of office,

retail,industrial, residential

and mixed-use communities,

Brighton Corporation’s

portfolio includes some of

the most recognizable names

in the area, including Boise

Research Center, Ustick

Marketplace and the Idaho

Independent Bank Building.

Soon we will introduce Barber

Station on the Boise River

and Ten Mile Crossing at the

new Ten Mile Interchange. We

invite you to tour our website

and see how Brighton’s

experience combined with

great locations can become

your company’s competitive

advantage.

KERRIE OGDEN208.989.7007

www.iddk.com

[email protected]

Rely on 26 Years of Experience -

24/7/365

A tradition of professionalism

with the correct response to

disaster. Idaho’s Large Loss

Specialist for Commercial/

Industrial/Residential. Fully

Licensed/Bonded/Insured. Over

100 Certifications in Fire/Smoke/

Water Damage Repair. DK has

cleaned, repaired & restored

more than 15,000 homes &

businesses in the Treasure Valley

since 1989. Idaho’s experts in

Accelerated Structural Drying/

Moisture Mapping/Water/

Sewer Damage Restoration/

Content Cleaning Restoration/

Mold/Vandalism/Smoke/

Odor Removal/Board Up/

Security Services/Sick Building

Syndrome/Trauma Scenes/

Bio-hazards.

Associated Insurance (AIS)

has partnered with BOMA to

help their members manage

and optimize their risk. We

can help shield members from

uncertainty by guiding them

through a risk management

platform that is specifically

customized to their business.

By partnering with Nationwide

and AIS, we can assist BOMA

members with managing their

insurance contracts, leases,

compliance, claims and overall

risk management needs. For

more information, visit us at

www.aisidaho.com.

CLINT PASKEWITZSales Manager

208.955.8180

[email protected]

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JOSEPH CARNAGEY208.362.0015

[email protected]

www.gcaservices.com

GCA Services Group is a

premiere national provider

of comprehensive janitorial,

facilities and grounds services

to commercial and education

markets. We focus on clients

where the quality of cleaning,

safety, maintenance and

appearance is critical to

the basic function of the

establishment. GCA Services

Group remains at the forefront

of Green cleaning program

development. We tailor

environmentally–friendly and

cost–effective programs to

meet the specific demands

of each of our local clients.

DK COMMERCIAL has a

long history of successfully

completing many commercial

real estate transactions over

the years. Local market

knowledge, specialized training

and education, along with

experience have produced

extremely satisfied

and happy clients.

Knowledgeable -“Debbie

recently negotiated a lease

meeting our needs… resulting

in lower costs to the company.

Her skills and knowledge are

impeccable in every way”.

-William T. Poindexter III, Manager of Facilities, Blue Cross of Idaho.

DEBBIE MARTINPrincipal/Broker

208.955.1014

dkcommercial.com

BRIAN LEWISMICHAEL LUKES

208.376.1393 | 208.376.1395 Fax

[email protected]

[email protected]

www.tsshvac.com

Total System Services (“TSS”)

furnishes a broad range of

heating & air conditioning

services to government,

commercial and residential

markets including:

• Commercial heating &

air conditioning preventive

maintenance, service,

sales and repair

• Residential heating & air

conditioning service, sales and

repair “One Hour Heating & Air

Conditioning” “Always on Time

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SCOTT CHANDLER 208.375.1362

208.32.1600 Fax

[email protected]

Orchard Partners LLP is a real

estate development,

operating, and holding

company with a focus on the

area of Orchard Street and

the connector (I-184). The

present campus of seven

buildings, known as Orchard

Place, contains over 300,000

square feet of rentable area.

Orchard Place accommodates

single tenants from a few

hundred square feet to over

65,000 square feet, including

Syringa Bank and the studios

of Idaho Public Television.

Orchard Place is the site of

the state headquarters of

four of Idaho’s state agencies.

Orchard Place offers a variety

of tenant accommodations and

development opportunities and

is managed by Scott Chandler.

Orchard Partners LLP

BRET VATERLAUS208.345.2951

208.345.9716 Fax

[email protected]

Western Building Maintenance

(WBM) has provided executive

cleaning services since 1962.

Over the years, we have

added window cleaning,

carpet cleaning, exterior

building cleaning and all

other types of cleaning for

commercial buildings. We

provide these same services

or residential buildings. WBM

also is one of the largest

restoration companies in the

valley repairing and cleaning

structural and content smoke,

water, wind and fire damage.

WBM has expanded into mold

removal and duct cleaning

and has certification

from the AIAQC.

JJ KNOLLPAUL B. SILVIS

208.866.6520 | 208.477.4593

[email protected]

[email protected]

Premier Energy Solutions, LLC

(PES) brings quality residential

and commercial solar to the

state of Idaho. Our mission

is to create strong business

relationships with clients and

build energy efficient and

money-saving solar systems

to fit their needs.

PES specializes in medium to

large residential and premium

commercial projects. Offering

energy efficient LED and Chip

lighting along with solar (PV)

systems of the highest quality.

Whether you are becoming

environmentally friendly and

self-reliant or simply saving

money, PES provides state-of-

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fit your needs.


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SERVICE SPECIALISTS208.853.2968

[email protected]

www.RMEinc.net

Rocky Mountain Electric, a

family owned and operated

business since 1979 proudly

serves our loyal customers

in the Treasure Valley, Puget

Sound and greater Salt

Lake area. RME’s backbone

is our team of licensed

electricians that will come to

your business or home with

the latest training in safety,

electrical code, and

energy efficiency.

You can count on us to build,

maintain or repair all of your

electrical needs. Give us a

call today to meet our team,

get an estimate or schedule a

service. We look forward

to being your

“Service Specialist”.

PETRA is a recognized leader in

general contracting, construction

management, design-build,

and concrete services.

Founded in 1994, we offer our

expertise, industry experience,

and comprehensive market

knowledge in the Northwest,

Rocky Mountain, and

Dakota regions.

PETRA brings added-value

and excellence to each project

through in-house services

including value engineering,

planning, construction,

start-up, cost management,

and commissioning.

PETRA’s company adage is

knowledge and experience build

trust; trust builds partnerships;

partnerships build buildings; and

buildings create communities.

JUSTIN BARKER 208.459.6978

208.989.9905 Cell

208.459.3997 Fax

[email protected]

www.upsoncompany.com

Upson Company is a leader

in the commercial roofing

industry. With over 35 years

of experience and licensed

with major manufacturers, we

provide exceptional service

and professional management

to our customers and clients.

We are qualified to install and

maintain all roofing systems.

With our preventive Elite

Roof Maintenance Programs

we extend the roof life cycle,

manage customer assets and

protect your bottom line.

JAMES MACISAAC208.323.4500

[email protected]

www.petrainc.net


What is the BOMA leasing guide? It’s more than just a chart of facts and figures compiled from hundreds of submissions made by building owners and managers from throughout the area. Simply put, it is a tool for doing more business.Every December building owners and managers are asked to submit information about their buildings. Both fully-occupied buildings and buildings with available space are included in the survey. BOMA Idaho researchers sort through the submissions and organize the data into the guide that you see on the following pages.

This guide is a valuable tool for many people involved in commercial real estate. Tenants use it to find space for their businesses. Landlords use it to promote their available spaces and to size up their competition. Brokers use it to find space for tenants and to prospect for new clients. Lenders use it to find prospective borrowers. Architects and contractors use it to search out their next tenant improvement project. Other vendors use it to uncover potential buyers for their goods and services. Every one of us can use it to learn more about our market and build relationships with others in the commercial real estate industry.

On behalf of everyone involved in the creation of this guide, I invite you to spend some time reading through the guide. And I encourage you to think about how this information can help you be more successful.

If you want to contribute information on the buildings you own or manage for next year’s leasing guide please contact BOMA research at 208-377-5775 or [email protected].

Dave Winder, CCIMCushman & Wakefield

Commerce

How to Make Money Using the BOMA Leasing Guide

MULVANEY MEDICAL BUILDING

EAGLE HEALTH PLAZA

WHITEWATER PARK APARTMENTS CLUBHOUSE

WATERCOOLER RENDERING

mailto:[email protected]:[email protected]

The above information, while not guaranteed, is from sources we believe to be reliable. This data is subject to price change corrections, errors, omissions, prior sale and/or withdrawal


LEASIN

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BUILDING ADDRESS FLOORS YEARBUILT

CONTACT COMPANYYEARREN

TOTAL SQ FEET

VACANCYDEC 2015

AVG RATE/SALE PRICE

AIRPORT SUBMARKET2090 Cole Road 2090 S Cole Rd 1 1988 2,793 Contact Owner 4471 Henry St. 4471 Henry St 2 1975 2000 1,584 Contact Owner 5305 Diamond St. 5305 Diamond St 1 7,000 Contact Owner 7198 Victory Road 7198-7202 W Victory Rd 2006 2,000 Contact Owner 880 Amity Road 880 Amity Rd 1 1973 10,000 10,000 $695,000 Thornton Oliver Keller 910 Amity Road 910 Amity Rd 2 1973 1,920 1,920 $5.00 Thornton Oliver Keller Airport Business Center 2141 W Airport Way 1 24,000 Contact Agent for Rate Colliers International Airport Business Center II 2523 E Airport Way 1 2006 9,934 Contact Owner Airport Business Park 2700 Airport Way 1 1993 6,207 6,207 $14.75 / Contact Agent for Sale Thornton Oliver Keller Airport Business Park 2729-2741 Airport Way 1 1980 1991 9,000 2,855 $11.95 Rocky Mountain Management Freight St. & South Eisenman Freight St & S Eisenman 1.89 AC Contact Owner Idaho Livestock Center 2120 Airport Way 2 1975 3,200 Contact Owner Mesa Systems 7600 Eisenman Rd 1997 55,776 1,000 $6.00 Thornton Oliver Keller Vandal Way Industrial 5957 Vandal Way 1 2002 82,851 3,450 $0.50 Thornton Oliver Keller Victory Business Center 2887 S Victory View Way 43,995 Contact Owner BUHL 430 7th Ave. 430 7th Ave S 1 2010 173,189 90,405 $0.75 Cushman & Wakefield Commerce CALDWELL 1017 Arthur St. 1017 Arthur St $62,000 Lee & Associates 120 Pine St. 120 Pine St 2,900 Contact Owner 1207 Kimball Ave. 1207 Kimball Ave 1 1979 3,056 1,845 $12.00 Silverhawk Realty 122 Rodeo & 510 Simplot 510 Simplot Blvd 1.65 AC Contact Owner 13533 Sawgrass Drive 13533 Sawgrass Dr 36,765 36,765 $183,824 Cushman & Wakefield Commerce 1815 10th Ave. 1815 10th Ave 1 1944 1,860 Contact Agent for Rate Colliers International 1819 Ellis Road 1819 Ellis Rd 10,500 Contact Owner 203 Main St. 203 W Main St 2 1892 6,720 Contact Agent for Rate Colliers International 207-211 34th St. 207-211 E 34th St 1 38,180 Contact Owner 217 9th Ave. 217 S 9th Ave 2,100 Contact Owner 301 34th Ave. 301 S 34th Ave 2 28,000 Contact Owner 314 Badiola St. 314 Badiola St 1996 3,888 Contact Owner 318 Kimball Ave. 318 N Kimball Ave 1949 3,920 2,920 Negotiable Remax Advantage 3515 Arthur St. 3515 Arthur St 7,250 Lee & Associates 3719 Lake Ave. 3719 S Lake Ave 1 2,000 2,000 $245,000 Cushman & Wakefield Commerce 403 Blaine St. 403 Blaine St 1976 2,488 Contact Owner 424 Kit 424 Kit 1,000 Contact Owner 4905 Highway 20-26 4905 Highway 20-26 2008 1,604 Contact Owner 504 10th Ave. 504 N 10th Ave 1 4,016 Contact Owner 6118 Cleveland Boulevard 6118 Cleveland Blvd 1,033 Contact Owner 612 Main St. 612 Main St 1996 11,780 11,780 $9.00 Serenity Real Estate Group 709 Dearborn 709 Dearborn 1980 3,175 Contact Owner 802 Cleveland Boulevard 802 Cleveland Blvd Lee & Associates 821 Smeed 821 Smeed Way 2008 5,576 Contact Owner 901 Main St. 901 Main St 2 1945 7,500 Contact Owner 916 Blaine St. 916-920 Blaine St 1 2,105 Contact Owner 9th Ave. Professional 524 S 9th Ave 2007 6,047 Contact Owner Arthur Professional Building 1117 Arthur St 2 1970 10,000 10,000 Negotiable Sundowner Inc. Batt Building 304 Cleveland Blvd 1 1963 2007 2,650 Contact Owner Cable One 6123 Timbre Dr 1 4,500 Contact Owner Caldwell Commons Retail Lease Space 5023 Cleveland Blvd, Ste 1-4 1 6,000 Contact Owner Caldwell Development Land NWC S Florida & Karcher 1,061,732 1,061,732 $1,061,732 Cushman & Wakefield Commerce Caldwell Medical Arts Building 1818 S 10th Ave 2 2008 15,000 Hawkins & Cannariato Caldwell Professional Building 418 S 9th St 1 1980 3,452 3,452 $12.00 Silverhawk Realty Catalina Building 717 S Kimball Ave 2000 7,000 Contact Agent for Rate Colliers International Century Square 2922 E Cleveland Blvd 2 1980 25,000 Hopkins Financial Chicago Ave. 2001-2007 E Chicago St 1 1970 2,835 2,835 $6.35 Modified Gross Prime Commercial Civic Drive 222 E Elm St 7,500 Contact Owner Cleveland Boulevard Land Cleveland Blvd 4.22 AC $2.50 / $459,885 Thornton Oliver Keller Clocktower Professional Park 4121 Clocktower Ave 1 2006 4,000 Contact Owner Cornerstone 524 Cleveland Blvd 2 1955 2000 32,000 Contact Agent for Rate Colliers International Development Land 3912 Hwy 20/26, Aviation Way 1,874,822 Contact Owner Downtown Development Property 11th & Cleveland Blvd 44,867 Contact Owner El Mercado Office 317 Happy Day Blvd 2 1980 2002 28,956 Contact Owner Elgin Professional Building 914 E Elgin St 1 1960 1,800 Contact Owner Elm Professional Building 403-409 E Elm St 2,500 Contact Owner Graye & Timbre Timbre Dr 4.28 AC Contact Owner Hibbard Building 714 Cleveland Blvd 1 1970 3,840 Contact Owner High Visibility Retail / Office Space 515 Cleveland Blvd, Ste 1 1 1959 4,936 1,122 $650 Month Cushman & Wakefield Commerce Idaho Physical Therapy 1902 S 10th Ave 5,000 Contact Owner Industrial Manufacturing Facility 1705 Industrial Way 1 1994 21,600 Contact Owner Industrial Shops & Showroom 623 Albany St, Ste 1 1 29,102 Contact Owner James Building 704 Blaine 1 5,000 Contact Agent for Rate Colliers International KD Landing 4121 Lake 2002 12,026 Contact Agent for Rate Colliers International Kimball Professional Building 1609 Kimball 2006 2,800 Silvercreek Realty Group Logan Medical Arts 303-309 E Logan St 1950 5,458 Contact Owner

LEA

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UID

ELIS

TIN

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The above information, while not guaranteed, is from sources we believe to be reliable. This data is subject to price change corrections, errors, omissions, prior sale and/or withdrawal.




TOTAL SQ FEET

VACANCYDEC 2015

AVG RATE/SALE PRICE

Logan Medical Plaza 211 E Logan St 3 2005 21,274 Contact Agent for Rate Colliers International Midtowne Plaza 6618 Cleveland Blvd 1 1995 14,000 Contact Owner NEC Ustick Road & Cleveland Boulevard 0 Cleveland & Ustick Rd, Lot 5-10 1 2015 10,000 10,000 $24.00 Cushman & Wakefield Commerce NWC Florida Ave. & Karcher 16069 S Florida Ave, Ste 1 1,061,731 1,061,557 $1,061,732 Cushman & Wakefield Commerce Office Medical Dental Space 405 E Elm St 1 1948 2,500 1,548 $10.00 Cushman & Wakefield Commerce Sowest District Health 920 Main St 1 7,920 Smith & Coelho The Real Estate Specht Ave. 823 Specht Ave 1 1983 2013 7,021 Contact Owner Sundowner Motel Land 1002 Arthur St 1.60 AC $11.48 / $800,000 Thornton Oliver Keller SWC Cleveland Boulevard & Linden St. 3020 Cleveland Blvd 1 9,300 9,300 $1,600,000 Cushman & Wakefield Commerce TBD Middleton Road TBD Middleton Rd 3,132,835 TBD Mark Bottles Real Estate TLP Suites 510 N Arthur St 1 1978 6,000 Contact Agent for Rate Colliers International Trolley Square 117 S 9th St 2 1970 13,433 Contact Agent for Rate Colliers International VA Medical Clinic 4521 Thomas Jefferson St 2010 9,934 Contact Owner Washington Federal Savings 513-515 Cleveland Blvd 1 1978 6,000 Contact Owner West Valley Medical Complex 1906 Fairview 4 2013 89,000 10,856 $17.00 + NNN Gardner Company Western Building 800-810 W Main St 2 1920 11,000 2,275 $8.57-$10.67 Winston Commercial Western Development 822 S 10th Ave 3,620 Contact Owner Willows Office Building 2805 Blaine St 2 2005 30,000 2,505 $10.75 Willows Office Building CAMBRIDGE 20, 40 Central Boulevard 20, 40 E Central Blvd $192,600 Lee & Associates CASCADE 700 Main 700 S Main 1 11,995 Contact Agent for Rate Colliers International Timber Property Cascade & Warm Lake 60 AC Lee & Associates CENTRAL BOISE 10 Liberty 10 N Liberty 11,377 Contact Owner 1000 Curtis 1000 N Curtis, Ste 100 3 23,471 Contact Agent for Rate Colliers International 1003 Orchard St. 1003 N Orchard St 1 1999 4,121 Contact Owner 1005 Orchard 1005 Orchard 1 1999 16,000 16,000 $9.00 / $1,500,000 Thornton Oliver Keller 1010 Orchard St. 1010 N Orchard St 1 1970 8,880 3,240 $8.25-$10.45 Michener Investments 106 Latah 106 N Latah 1 1955 2,489 2,489 $8.50 Alpha Properties 108 Latah 108 N Latah 1 1955 1,061 1,061 $8.50 Alpha Properties 1122, 1200 Liberty 1122, 1200 N Liberty $15,149,000 Lee & Associates 1134 Orchard St. 1134-1148 N Orchard St 2 1963 20,286 10,000 $7.00 KW Commercial Real Estate 122 Latah 122 N Latah 1 1955 2,000 466 $11.50-$12.50 Alpha Properties 1310 Vista Ave. 1310 S Vista Ave 2 1954 5,874 Contact Owner 1320 Vista Ave. 1320-1340 S Vista Ave 1 1967 4,480 3,158 $10.50 Thornton Oliver Keller 1350 Vista Ave. 1348-1350 S Vista Ave 1 1967 5,000 2,465 $10.50 Thornton Oliver Keller 1400 Vista Ave. 1400 S Vista Ave 1 1960 23,618 Contact Owner 1514 Shoshone St. 1514 Shoshone St 2 1935 3,232 Contact Owner 1525 David 1525 S David 1 2007 4,750 Thornton Oliver Keller 1525 Owyhee St. 1525 S Owyhee St 1983 3,300 Contact Owner 1604 Phillippi St. 1604 S Phillippi St 1 1954 1990 2,354 Contact Owner 1800 Overland Road 1800 Overland Rd 1971 1999 8,763 Contact Owner 1845 Federal Way 1845 S Federal Way 1 1970 1975 21,500 Contact Owner 1878 Overland Road 1878 W Overland Rd 2008 8,000 Contact Owner 1880 Judith Ln. 1880 W Judith Ln 2 2008 12,462 KW Commercial Real Estate 1902 Judith Ln. 1902 W Judith Ln 2008 5,600 Contact Owner 1906 Vista Ave. 1906 Vista Ave 2006 4,320 Contact Owner 200 Phillippi St. 200 S Phillippi St 1984 2,378 Contact Owner 219 Roosevelt 219 Roosevelt 1 10,000 Contact Owner 232 Whisperwood Way 232-234 S Whisperwood Way 2009 11,580 2,443 $14.00 Thornton Oliver Keller 2429 Bank Drive 2429 Bank Dr 1 1965 4,182 Contact Owner 2447 Vista Ave. 2447-2449 Vista Ave 1 1994 4,000 Contact Owner 2601 Cassia 2601 Cassia 1 3,156 Contact Owner 270 Orchard St. 270 S Orchard St 1 1983 6,114 2,282 $9.00 Thornton Oliver Keller 2900 Overland Road 2900 Overland Rd 1 1953 2002 3,600 Contact Owner 3018 Overland 3018 Overland 1 2,879 Contact Agent for Rate Colliers International 3041 Pasadena Drive 3041 Pasadena Dr 3 1999 63,637 Contact Owner 3170 Overland Road 3170 Overland Rd 1 1974 2,100 Contact Owner 326 Orchard St. 326 N Orchard St 1 1950 1960 8,124 8,124 $289,500 Thornton Oliver Keller 3775 Cassia St. 3775 W Cassia St 1 1970 3,500 Contact Owner 411 Allumbaugh St. 411 N Allumbaugh St 1 1998 7,470 Contact Owner 420 Orchard St. 420 N Orchard St 8,126 Contact Owner 420 Orchard St. 412-420 S Orchard St 1 2002 10,500 10,500 $14.00 / $1,400,000 Thornton Oliver Keller 4205 Emerald St. 4205 W Emerald St 1 1960 2,672 Contact Owner 4218 Emerald St. 4218 Emerald St 1 1960 1966 4,939 Contact Owner 427 Curtis Road 427 N Curtis Rd 1976 10,200 10,200 $9.00 Story Commercial 4346 Rose Hill Road 4346 Rose Hill Rd 2 1978 3,819 398 $11.22 NAI Pinnacle 4620 Overland Road 4620 W Overland Rd 1965 2002 13,041 Contact Agent for Rate Colliers International 4720 Emerald St. 4720 Emerald St 2 1983 16,292 Contact Owner 4792 Overland Road 4792 W Overland Rd 2003 4,174 Contact Agent for Rate Colliers International 4795 Emerald St. 4795 W Emerald St 1 1981 14,956 Contact Agent for Rate Colliers International 504 Latah St. 504-510 N Latah St 1 1988 4,100 Contact Owner 514 Orchard St. 514 S Orchard St 1 2,500 Contact Owner 515 Vista Ave. 515 S Vista Ave 2 6,208 Contact Owner



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520 Orchard St. 520 Orchard St 1 4,000 Contact Owner 527 Americana Boulevard 527 S Americana Blvd 1963 1,700 Contact Owner 5330 Morris Hill St. 5330 Morris Hill St 1 1,848 Contact Owner 5333 Franklin Road 5333-5383 W Franklin Rd 1 1985 12,512 12,512 Negotiable Silvercreek Realty Group 5414 Morris Hill St. 5414 W Morris Hill St 2 1973 19,120 Contact Owner 5530 Emerald St. 5530 Emerald St 1 2,000 Contact Owner 5605 Franklin Road 5605 Franklin Rd 1 1977 5,080 Contact Owner 600 Latah St. 600 N Latah St 1 1,059 Contact Owner 600 Orchard St. 600 S Orchard St 1 1992 2,400 Contact Owner 602 Orchard 602 N Orchard $689,000 Lee & Associates 6109 Overland Road 6109 Overland Rd 2,016 Contact Owner 6115 Overland Road 6115 W Overland Rd 1993 4,747 Contact Owner 6127 Franklin Road 6127 W Franklin Rd 1 1992 9,161 $325,000 Prime Commercial 6305 Overland Road 6305 W Overland Rd 1 2003 7,100 Contact Owner 6429 Interchange Ln. 6429 W Interchange Ln 1 2012 5,308 5,308 $539,000 Keller Williams 6600 Emerald St. 6600 Emerald St 9,000 $698,000 Lee & Associates 6650 Emerald St. 6650-6700 W Emerald St 1 1970 1,740 Contact Owner 703 Latah 703 S Latah 1 2,000 Contact Owner 711 Garden 711 N Garden Lee & Associates 719 Orchard St. 719 N Orchard St 1 1950 2,000 Contact Owner 723 Stanley St. 723 N Stanley St 1948 1,964 Contact Owner 770 Vista 770 S Vista 1 1961 1,500 1,500 $10.00 Michener Investments 812 La Cassia St. 812 La Cassia St 1 4,950 Contact Owner 815 Ann Morrison Drive 815 Ann Morrison Dr 1 1960 2006 10,144 Contact Owner 848 La Cassia St. 848 La Cassia St 1 864 Contact Owner 851 Curtis Road 851 S Curtis Rd 1 1964 4,128 Contact Owner 880 Curtis Road 880 N Curtis Rd 1 1,800 Contact Owner 909, 913 Latah St. 909, 913 S Latah St 1 1975 2,900 1,017 $10.50-$11.50 Alpha Properties 914 Curtis 914 N Curtis 1 1953 2,357 Contact Owner 9201 Overland 9201 W Overland $13.50 SF/YR Lee & Associates Airport Center W Elder St 1.92 AC $585,445 Thornton Oliver Keller Airport Center Build to Suit 3056-3276 W Elder St 42,800 42,800 Negotiable Thornton Oliver Keller Airport Center I 3056 Elder St 1 1987 14,000 2,392 Negotiable Thornton Oliver Keller Airport Center II 3184 Elder St 1 1985 14,000 14,000 Negotiable Thornton Oliver Keller Airport Center III 3160 Elder St 1 1988 14,000 7,000 Negotiable Thornton Oliver Keller Airport Center IV 3264-3276 Elder St 1 1988 14,000 1,314 Negotiable Thornton Oliver Keller Airport Center V 3232 Elder St 1 1988 34,000 Contact Owner Airport Plaza 3295 Elder St 3 1980 48,104 Contact Owner Americana Terrace 3350 Americana Terrace St 2 1962 2004 24,680 11,270 $10.00 NAI Pinnacle Argonaut Building 1301 S Vista Ave 2 1973 19,800 Contact Owner Bank Drive Office Building 2404 W Bank Dr 3 1970 20,707 5,230 $8.50 / $995,000 Cushman & Wakefield Commerce BIC Building 2300 S Orchard St 1 1991 5,152 Contact Owner Blaine Insurance 6307 W Interchange Ln 1 2006 7,224 Sandra Cianci BOI Building 2399 S Orchard St 2 1981 2007 18,440 9,860 $8.50 Boise Commercial Properties Boise Convenience Clinic 6533 W Emerald St 1 1985 12,662 Contact Owner Boise Dental Building 2 6363 W Emerald St 1 1984 2,630 2,630 Negotiable Arthur Berry & Company Boise Office Center 7201-7289 Franklin Rd 1 1981 62,000 32,959 $9.00 The Sundance Company Boise Sewer District 4828 W Emerald St 1 1970 4,500 Contact Agent for Rate Colliers International Broadway Medical / Professional Office 1961 S Broadway Ave 1 1980 1,640 1,640 Contact Agent for Rate Cushman & Wakefield Commerce Broadway Office Suites 1843 S Broadway Ave 1 1979 1,724 Contact Agent for Rate Cushman & Wakefield Commerce Capital Eye Center Building 6624-6710 W Emerald St 2007 5,600 Reynolds Investment LLC Carlton Bay 10178 W Carlton Bay 48,000 48,000 $275,000 Mark Bottles Real Estate Caseys Family Center 6441 W Emerald St 1 1988 3,846 Contact Owner Century Building 836-848 La Cassia Dr 1 1963 6,887 Contact Owner Clint & Graham Building 1365 N Orchard St 2 1968 24,000 7,739 $12.00 Thornton Oliver Keller Colonial Plaza 1224 S Vista Ave 1 1957 4,219 842 $10.50 KW Commercial Real Estate Columbia Marketplace End Cap 6456 S Federal Way 1 1999 7,400 4,000 $10.00 Cushman & Wakefield Commerce Continental Plaza 4615, 4619 W Emerald St 1 1970 Lee & Associates Country Club Retail Plaza 4500 W Overland Rd 1 1999 64,399 6,000 $10.50 Cushman & Wakefield Commerce CSC Building 1301 N Orchard 2 1968 1987/2011 39,523 Thornton Oliver Keller Curtis & Emerald N Curtis Rd 120,000 Contact Owner Curtis Medical / Office Condo 901 N Curtis Rd, Ste 303 5 1984 40,000 1,710 $15.00 / $200,000 Cushman & Wakefield Commerce Curtis Medical Plaza 1070 N Curtis Rd 2 1983 2006 25,367 10,973 $15.50 Thornton Oliver Keller DEQ Building 1410 N Hilton 3 1990 66,863 Thornton Oliver Keller Emerald Court 4477 Emerald St 2 1981 19,476 2,971 $9.00 Boise Commercial Properties Emerald Office / Retail Space 5321 W Emerald St 1 1958 6,956 Contact Owner Emerald Office Building 6720 W Emerald St 2 1975 4,800 Contact Owner Emerald Professional Park 6010-6180 W Emerald St 1 1980 42,290 4,136 $12.00 Quest & Company Emerald Square 4355 Emerald St 2 1987 2007 40,280 9,691 $8.50 Thornton Oliver Keller Flex Work Space 6023-6163 W Clinton St 1 1976 2007 79,128 17,048 $6.00-$8.00 Thornton Oliver Keller Former Enterprise Rent-A-Car 2502 W Overland Rd 1 1971 1,088 Contact Owner Franklin Business Park 10-270 S Cole Rd 1 1979 2003 88,776 14,398 $8.49 Sperry Commercial, Inc. Gateway East Office Building 9095 S Federal Way 2 2008 27,570 7,738 Contact Agent for Rate Arthur Berry & Company Gem States Building 2417 Bank Dr 3 1973 23,940 11,958 $9.00 / $775,000 Cushman & Wakefield Commerce Genesis Center 1535 W Franklin Rd 1 2005 9,600 1,237 $10.00 + NNN DK Commercial Hartman Medical Building 1075 N Curtis Rd 3 1994 28,512 3,012 $15.00 / $440,950 Thornton Oliver Keller Hedrick Construction 1154 N Orchard St 2 1930 1980 4,900 Contact Owner Hillcrest Business Center 4696 W Overland Rd 2 1970 2004 26,700 7,282 $1,525,000 Thornton Oliver Keller


Freezer Warehouse Space430 7th Avenue South, Buhl, Idaho 83316

FOR LEASE

Freezer Space Approx. 211,883 Sq. Ft. of (-10 Degrees) Freezer Storage Space, Office Space & Refrigerated Loading Docks

Roll-Up Doors 3 Rail Service Doors, 3 Dock High Doors 1 Ramp Loading Door

Clear Height 21 - 26 Feet ±

Rail Served Eastern Idaho Railroad - EIRR#387

Uses Perfect for Storing Frozen Vegetables, Meat, Seafood, and Dairy Products

398 South 9th Street, Suite 260 Boise, ID 83702 Main +1 208 287 9500 Fax +1 208 287 9501comre.com

Jake MillerAssociate/Industrial Specialist +1 208 287 8447 [email protected]

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

Contact Agent to Schedule a Walk Through Today!!

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

RAIL SERVED FREEZER STORAGE



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Hillcrest Business Center 4696 W Overland Rd 2 1970 26,082 5,195 Contact Agent for Rate Cushman & Wakefield Commerce Hixon & Orr 1626 S Orchard St 1 1962 2,774 Contact Owner Hoppie Building 1516-1534 S Vista Ave 2 1949 15,878 7,500 $7.50-$8.50 AF Properties IASA 777 S Latah St 1 1975 3,864 Contact Owner ICRMP Building 3100 S Vista Ave, Ste 110 5 1994 50,000 Contact Agent for Rate Colliers International Industrial Warehouse Space 21 N Allumbaugh St 1 1959 22,664 Contact Owner Insurance Network America 1487 S David Ln 1 2005 7,830 Contact Owner Interchange Business Park 6466 W Interchange Ln 1 2008 2,300 Contact Owner Interchange Business Park 6485 W Interchange Ln 1 2005 6,000 Contact Agent for Rate Colliers International Intermountain Agency 1650 W Albright Ln 1 2004 5,021 Contact Owner IPTV Building 1455 N Orchard 3 1950 1993 46,675 6,965 $12.00 Thornton Oliver Keller Kendall Center 2 5437-5451 Kendall St 1 1979 16,560 8,800 $0.50 Thornton Oliver Keller Kendall Center 3 5375-5385 Kendall St 1979 24,339 10,000 $0.50-$0.75 Thornton Oliver Keller Kendall Center 5 5481-5505 Kendall St 1986 9,366 1,000 $0.50 Thornton Oliver Keller Kendall Center 6 5555-5569 Kendall St 1986 12,721 6,820 $0.50-$0.75 Thornton Oliver Keller Kendall Center 7 5461-5527 Kendall St 1986 18,773 2,415 $0.75 Thornton Oliver Keller Keynetics Building 917 S Lusk St 3 2005 30,000 Contact Owne

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