Over the last 18 months, the mixed-use development in Meridian called Portico has leased 265,000 square feet of commercial space. That’s about 80 percent of the 327,849-square-foot project at the Eagle Road exit off I-84.
In a commercial real estate market as tough as it is today, development company Gardner Ahlquist has decided the achievement is something to celebrate. At 1:30 p.m. today, Feb. 4, Gov. C.L. “Butch” Otter, Meridian Mayor Tammy deWeerd and other elected officials and corporate leaders plan to gather at the Portico West Building, 3277 E. Louise Drive, on the fourth floor to laud the progress.
“Here, in this anchor location of our med-tech economic development zone, Gardner Ahlquist Development has achieved something great and has demonstrated that an outstanding location and design can help commercial real estate thrive even in a soft economy,” De Weerd said in a Gardner Ahlquist release.
Tenants at the development include:
• St. Luke’s Meridian Medical Center, which purchased an 80,000-square-foot office building for use as an outpatient surgery center and physician offices
Also planned is a 175-room upscale hotel from an Idaho-based hotelier. The hotel’s brand has not yet been announced.
Otter takes Portico’s successful leasing as a positive sign for Idaho.
“Meridian’s latest economic development success is one more important signal that the Idaho economy is going to be one of the turnaround stories of 2010 and 2011,” he stated.