Cushman & Wakefield advises sale of renovated 77,962 SF industrial/flex/cold storage asset in Boise, ID for $17.75 million

Cushman & Wakefield announced the firm has brokered the sale of a newly renovated 77,962-square-foot industrial/flex/cold storage building situated on over 3 acres in Boise, Idaho. Located at 11193 Emerald St, the property was fully leased to four tenants.  An undisclosed buyer acquired the property from Emerald Town LLC for $17.75 million.

Cushman & Wakefield announced the firm has brokered the sale of a newly renovated 77,962-square-foot industrial/flex/cold storage building situated on over 3 acres in Boise, Idaho. Located at 11193 Emerald St, the property was fully leased to four tenants.  An undisclosed buyer acquired the property from Emerald Town LLC for $17.75 million.

Cushman & Wakefield’s Jennifer McEntee, Bree Wells and DJ Thompson represented the seller in the transaction. The team also brokered the four leases currently in place at the property, all of which were signed in the last year during Emerald Town LLC’s ownership.  

Jennifer McEntee, Senior Director said, “This was an all-around success story for the property and all parties involved plus the greater community. The seller initially acquired the building fully vacant in 2019 and then made a significant capital investment to upgrade the facility inside and out. Subsequent to the recent renovation, the seller, together with Cushman & Wakefield, fully leased the building to the existing tenants before executing on the latest sale.

 “Furthermore, this was a very attractive industrial investment opportunity for the buyer supported by a diverse tenant roster and a desirable market location,” McEntee continued.

The seller’s numerous interior and exterior improvements included a new/repaired insulated roof, upgraded office and restroom space, extensively upgraded freezer/cooler space (currently not being utilized), resurfaced and restriped parking lot, new and upgraded dock door systems, and more. The property also has 5 roll doors.

The property is also easily accessible from Interstate 84 and 184 and located near several amenities including the Boise Towne Square shopping center.   

McEntee added, “Boise continues to earn recognition for its growth, business opportunities and quality of life, and the success of this property, both leasing and sale activity, even during the pandemic is proof of that.”

Cushman & Wakefield’s Jennifer McEntee, Bree Wells and DJ Thompson represented the seller in the transaction. The team also brokered the four leases currently in place at the property, all of which were signed in the last year during Emerald Town LLC’s ownership.  

Jennifer McEntee, Senior Director said, “This was an all-around success story for the property and all parties involved plus the greater community. The seller initially acquired the building fully vacant in 2019 and then made a significant capital investment to upgrade the facility inside and out. Subsequent to the recent renovation, the seller, together with Cushman & Wakefield, fully leased the building to the existing tenants before executing on the latest sale.

 “Furthermore, this was a very attractive industrial investment opportunity for the buyer supported by a diverse tenant roster and a desirable market location,” McEntee continued.

The seller’s numerous interior and exterior improvements included a new/repaired insulated roof, upgraded office and restroom space, extensively upgraded freezer/cooler space (currently not being utilized), resurfaced and restriped parking lot, new and upgraded dock door systems, and more. The property also has 5 roll doors.

The property is also easily accessible from Interstate 84 and 184 and located near several amenities including the Boise Towne Square shopping center.   

McEntee added, “Boise continues to earn recognition for its growth, business opportunities and quality of life, and the success of this property, both leasing and sale activity, even during the pandemic is proof of that.”