Market Mondays: Boise, ID - January 27, 2025

MARKET OVERVIEW
Boise, ID

Why Boise?

The Boise Metro area is home to over 800,000 residents and has experienced significant growth in the last decade. Boise led the nation with a 3.7% annual population increase, with further growth anticipated. The region appears to attract a younger population and within a 45-minute drive of Boise, there is a labor force exceeding 400,000 individuals.

Boise has solidified its reputation as a burgeoning tech hub, attracting a diverse array of technology companies. The region boasts a robust advanced manufacturing sector, encompassing industries such as aerospace, semiconductors, and food production. Building upon its rich agricultural heritage, Boise continues to be a significant player in food processing.

There are 50 motor freight companies serving the Boise Valley. Boise is well located on I-84 with connectivity to Portland and Salt Lake City. There is connectivity to 5 interstates, 20 U.S. highways, and 30 state highways in the Boise Valley.

Additionally, there is more than 1,600 miles of rail line. The Union Pacific and Burlington Northern Santa Fe provide connection points to Canada, Mexico and across the U.S. Annually, the rail system transports over 11 million tons of freight.

Boise also has air service to many large U.S. cities. For example, it takes 1 hour and 45 mins to reach Denver, CO by plane, just over 3 hours to reach Dallas, TX, less than 2 hours to reach Phoenix, AZ, 1 hour and 20 mins to reach Seattle, WA, less than 2 hours to reach Las Vegas, NV, and just over 4 hours to reach Atlanta, GA.

Top Companies to Know in Boise

IDA Corp (Idaho Power)
JR Simplot Company7
Winco
Jacksons Food Stores
HP, Inc
Micron
Albertsons
Amazon
Wells Fargo
St Luke’s Health Systems

Check out this link for a list of major employers

IOS Market Trends

Boise’s rapid population and economic growth is driving increased demand for industrial uses like logistics, construction staging, and last-mile delivery, making Industrial Outdoor Storage (IOS) a critical resource for businesses needing cost-effective solutions for vehicle and inventory storage. Rising industrial rents, up 1.5% year-over-year, position IOS as an attractive alternative for tenants whose operations don't require enclosed facilities. Additionally, Boise’s strategic location and robust logistics framework enhance its appeal as a growing hub for trucking, transportation, and distribution, further increasing the demand for IOS near major transit corridors.

CLOSED TRANSACTIONS
Acquisitions, Dispositions, Leases Signed

ACQUISITION: In October 2020, LDK Ventures, a Sacramento-based firm, acquired the Boise Logistics Center in Boise, Idaho. The site featured a 370,000 square-foot warehouse with a configuration allowing for both front and side loading, outdoor storage, a connected 56-door truck terminal and an additional 16.2 acres of land. The acquisition involved almost $20 million in financing. Devin Ogden and Michael McNeight of Colliers International represented the buyer, while Gavin Phillips of TOK Commercial represented the seller. The current occupier is TimberTech (Azek Company).

ACQUISITION: Lee & Associates Idaho sold 20249 Pinto Rd, Caldwell, ID 83607, a 2.17 AC Industrial Outdoor Storage site located in Caldwell, ID in December 2024. The property was purchased by Aspen Canyon Properties LLC. Nick Provenzano, Jason O'Very, and Michael Bergmann facilitated the transaction.

ACQUISITION: Sawtooth Development Group and AT Industrial Co. acquired 6633 S Federal Way, an IOS property in Boise, Idaho in mid-2024. The site, located just two minutes off Exit 57 (Micron Exit) on I-84, underwent significant renovations in 2019. Jack Cosca, John M. Starr, and Patrick Chetwood of Colliers Boise facilitated the seamless transaction.

LEASED: Omega Morgan leased a 70,000-square-foot industrial building on Northland Drive in Nampa, Idaho, from Adler Industrial in 2021. The facility, situated on approximately 10 acres and is zoned for heavy industrial use. This marked Omega Morgan’s expansion into the Treasure Valley region. Sherry Schoen, Senior Managing Director with Newmark, represented the tenant.

LEASED/AVAILABLE: Three acres of IOS at 7132 W Targee St, Boise, ID, were leased to a credit tenant at the end of 2024. This prime IOS location is 15 minutes from Micron, near the Boise Airport, and offers excellent freeway access with ample yard space. There are still two acres available for lease at this site! Reach out to Jack Cosca at Colliers for more information.

MORE BOISE YARDDOGS: CBRE, Cushman & Wakefield, Commercial Advisors, Colliers, Marcus & Millichap

Know of other great Boise IOS acquisitions or YardDogs that we missed?

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