Boise Multi-Tenant Industrial | For Sale

Investment Overview

Lee & Associates is pleased to present the opportunity to acquire 921 W. Amity Rd. in Boise Idaho. Amity Industrial is a multi-tenant industrial investment of approximately 108,275 square feet across two buildings in Boise’s airport industrial submarket. It is leased to five distribution and manufacturing tenants of regional and international credit presenting diversified in place cash flow across a variety of tenant sizes and industries. The buildings are highly functional, with 18 - 20’ clear heights, dock high and grade level loading, fire suppression, three phase power, and rail service via rail spur on the rear of the property. Space sizes ranging from about 6,891 to 48,667 SF directly appealing to the Boise MSA tenant base. Exceptional access at only 0.6 miles and one right turn to Interstate 84 and close proximity to the Boise Airport. The property is about 3.5 miles from Micron Technology’s $50 billion Boise expansion, which is driving never before seen demand from suppliers, contractors, and equipment providers to this immediate area. Leasing velocity, surrounding tenancy, and Interstate access present why this asset will continue to see sustained performance well into the future. Boise’s continues to see rapidly increasing population, strong historical industrial market fundamentals, and a business friendly climate driving companies to the area.

Investment Highlights

• Location: A+ location in the highly desirable Airport submarket, which historically has experienced the strongest leasing demand in the Boise MSA. Short drive to Micron’s new 50 Billion Dollar Fab and R&D facility now, under construction.
• Walt: Three (3.0) Years of Weighted Average Lease Term remaining with staggered lease expirations.This offers the ability to push rents due to the limited supply of vacancy in the Airport Sub Market and overall Boise MSA.
• Recent Capital Improvements: Recent capital improvements include exterior paint, re roof of unit 921, complete rebuilt of offices in 921 and 947, and parking lot stripe. Roof on building 865 replaced in 2022.
• Tenancy: Leased to International and National tenants in a variation of size ranges and industries diversifying the tenant pool. Six of the Seven suites are below 30,000 SF which caries a 2.5% vacancy in the Boise Market.