CBRE Arranges Sale of 7.3 Acres of Industrial Land in Boise’s Airport Submarket; 60,000-Square-Foot Appaloosa Gateway
Boise – May 3, 2022 – CBRE arranged the sale of a 7.3-acre industrial development site at 7953 W. Targee Street in Boise for Cale Enterprises.
Harrison Sawyer and Jake Miller of CBRE Industrial and Logistics represented the buyer Cale Enterprises in the land acquisition.
The site, which has been named Appaloosa Gateway, is centrally located and under a half-mile from Interstate 84 in Boise’s Airport submarket. Cale Enterprises, a new-to-market developer, plans to construct three 20,000-square-foot buildings divisible to 2,500-square-foot and 5,000-square-foot turnkey bays. CBRE has been retained to lease the project, which is scheduled to break ground in the last quarter of 2022.
“Uncovering a shovel-ready industrial site for sale in Boise is rare these days given the substantial demand and growth in the Treasure Valley,” said CBRE’s Sawyer. “The development will provide an excellent opportunity for industrial tenants seeking turnkey and efficient space in the highly sought-after Airport submarket. We are thrilled to be working with Cale Enterprises on such an exciting project.”
Cale Enterprises partner Joe Killefer, said, “We have targeted the Boise MSA for several years and closing on Appaloosa Gateway is very exciting. Harrison and Jake have worked very hard to bring this to fruition and we look forward to leasing up the project with them.” The company currently has industrial and multifamily projects in California, Arizona, Colorado and now, Idaho. Trey Preissman will be the local Project Manager in Idaho overseeing this project and sourcing new leads.
The Boise industrial market has one of the lowest vacancy rates in the country at 1.0 percent, according to CBRE. Sawyer added, “While there is a wave of large-scale industrial space coming online in the next 12-18 months, many developers are overlooking the demand for smaller product, especially in Ada County. This development will help fill the gap.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.