City of Boise Engages Commercial Real Estate Team for New Rail-Oriented Industrial Development
BOISE, May 31, 2016 – The Boise office of Cushman & Wakefield/Commerce has been exclusively engaged by the City of Boise in search of a development partner for approximately 275 acres of prime industrial land off Eisenman Road near the airport.
Developers with the financial and resource capacity will have the potential opportunity to build an intermodal rail facility as well as plans and speculative buildings for industrial and manufacturing tenants. By doing so, developers will be able to capture tenant demand and engage in built-to-suit projects.
Cushman & Wakefield/Commerce has mobilized a multi-state commercial real estate team and will leverage their international platform to drive the project.
“The development opportunity will include a mix of single and multi-tenant industrial buildings comprised of manufacturing firms who have either expanded in the area or are planning to join national companies attracted to Boise due to its pro-business environment,” said Harrison Sawyer, industrial specialist with the Boise office of Cushman & Wakefield/Commerce. “When the best use of the 275 acres is established, new jobs will be created along with a surge in economic growth.”
Enhancement of Idaho state tax incentives adopted July 2014 was designed to help with the expansion of existing manufactures and attract out-of-state developers. Since the adoption, 26 new projects with investments of $537 million have emerged, creating 4,228 new jobs.
“The area is perfectly situated for economic development and growth due to its proximity to the interstate, airport, downtown Boise, and 9,000 feet of rail system,” said Jake Miller, industrial specialist with the Boise office of Cushman & Wakefield/Commerce. “This location provides a great opportunity to create a state-of-the-art facility for Treasure Valley manufacturers to ship goods and materials in and out of the region, whether by plane, train or truck.”
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About Cushman & Wakefield/Commerce
Cushman & Wakefield/Commerce operates the Cushman & Wakefield business in Idaho, Nevada, Utah and Washington. The firm partners with its sister company Cushman & Wakefield/NorthMarq to provide innovative commercial real estate solutions to occupier and investor clients, offering transaction services, capital markets services, occupier and investor services, and real estate advisory. Together the firms manage 52 million sq. ft. of retail, industrial, and office assets, have transaction revenues of more than $2 billion, and employ more than 750 professionals. Learn more at www.comre.com.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.