Office Owner-User or Value-Add Investment | Cottonwood Plaza

Investment Overview

Cottonwood Plaza presents a rare opportunity to acquire a 43,142 SF multi-tenant office building in the heart of West Boise at a compelling 7.5% cap rate. Built in 2000 and currently 87% occupied, the property is home to four nationally recognized tenants — Zayo, Bartlett Roofing, Giltner Logistics, and Accel Therapies — all operating under NNN leases with 3% annual rent escalations. Bartlett Roofing has notified ownership that they expect to vacate at their lease expiration of 08/31/2027. With the current NOI of $566,117 and 5,625 SF currently vacant and Bartlett Roofing’s 17,404 SF becoming available on 09/01/2027, there is meaningful vacancy that an owner-user or value-add investor could benefit from. Priced at $7,550,000 ($175/SF), Cottonwood Plaza offers an attractive opportunity for an owner-user to secure immediate occupancy with the ability to expand as Bartlett Roofing’s near-term lease expiration creates additional availability, while benefiting from current income generated by Zayo, Accel Therapies, Giltner Logistics and Bartlett Roofing (through 08/31/2027). It also suits value add investors seeking a well located West Boise asset with stable cash flow today and meaningful upside through lease up and re tenanting of space turning over in 2027.

Investment Highlights

• 7.5% cap rate with $566,117 in-place NOI on a $7,550,000 price, offering immediate, stable cash flow in today’s market.
• 87% leased to established, credit-quality tenants including Zayo, Bartlett Roofing, Giltner Logistics, and Accel Therapies, all on NNN leases with 3% annual increases.
• Currently 5,625 SF (13%) of vacant space. Bartlett Homes & Roofing (17,404 SF or 40.3% rentable area) has a lease expiration of 08/31/27 and has indicated an intent to vacate at expiration, creating a significant future occupancy opportunity for an owner-user or lease-up opportunity for a value-add investor.
• Prime West Boise location along a highly active corridor with strong demographics, visibility, and proximity to major employers and retail.
• Robust building infrastructure including a 645 kW Generac emergency generator (3-phase, 277/480V) and 2,500A main electrical service, supporting high-demand users and enhancing long-term operational reliability.