Biz ‘Bite:’ Renovated 77,962-square-foot industrial/flex/cold Boise storage asset sold for $17.75M

IBR Staff//May 31, 2022//

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

The industrial/flex/cold storage facility at 11193 Emerald St. in Boise. Image provided by Cushman & Wakefield

Jennifer McEntee, senior director for the firm, said in a statement: “This was an all-around success story for the property and all parties involved, plus the greater community…This was a very attractive industrial investment opportunity for the buyer supported by a diverse tenant roster and a desirable market location. 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.”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, according to the announcement. The property also has five roll doors. McEntee, Bree Wells and DJ Thompson represented the seller in the recent transaction.