以下日期和时间提供物业参观： - 8月3日星期四 - 10月10日 - 8月10日星期四至1:00 PM请联系DJ Thompson，致电208-287-8438或访问dj.thompson @ paccra.com。物业概要：中城商业园位于花园城工业子市场内，这是更大的阿达县工业市场的一部分。该物业由2.75英亩土地上的4座单层建筑组成。目前，这个公园有49套套房，从640平方英尺到2,532 平方英尺。单元的性质允许更大的配置。天花板高度估计为13'-14'。考虑到“灵活空间”，大多数套房有办公和仓库的组合。截至2017年7月1日，中心的入住率为95％，有47名租户就位。该子市场拥有280万平方英尺工业大厦的工业基地，空置率为2017年第一季度的4.46％。历史上，由于集中了工业物业，而且靠近市中心的博伊西市场，这个市场一直都处于较低的单元空置率和竞争性的市场租金。这个子市场的大部分建筑是第二代和第三代。在这个子市场中，过去36月，几乎没有发生过新的工业建筑活动。位置概要：重要资讯- 中城商业园位于Chinden 大道。这是通过花园城市的一条主要的四车道国道和通过ADA县连接市中心的城市西部的大动脉。
Property tours are available on the following dates and times:
- Thursday, August 3rd - 10:00 AM
- Thursday, August 17th - 1:00 PM
Please contact DJ Thompson to schedule a property tour at 208-287-8438 or dj.thompson@paccra.com or Andrea Nilson at 208-287-8439 or andrea.nilson@paccra.com.
PROPERTY SUMMARY
The Midtown Business Park is located within the Garden City industrial submarket, which is part of the much larger Ada County Industrial Market. The Property consists of 4 single story buildings on 2.75 acres of land. Currently, this park offers 49 suites ranging from 640 SF to 2,532 SF. The nature of the units allow for larger configurations. Ceiling heights are estimated at 13’-14’. Considered “flex space”, most suites offer a combination of office and warehouse. As of July 1st, 2017 the center has an occupancy rate of 95% with 47 tenants in-place. This submarket has an industrial base of 2.8 million square feet of industrial buildings with a vacancy rate of 4.46% from the 1st quarter of 2017. Historically, this market has always experienced low single digit vacancy rates and competitive market rental rates due to its concentration of industrial properties and its close proximity to downtown Boise. Most of the buildings in this submarket are second and third generation. Little to no new industrial construction activity has occurred over the past thirty-six months in this submarket.
LOCATION SUMMARY
Prominent Location & Access - The Midtown Business Park is located off Chinden Blvd. which is a major four lane State Highway through Garden City and a major artery through ADA County connecting downtown Boise to cities to the West. The property is located one mile away from the I-84 on ramp, as well as a mile and a half from the heart of the prominent downtown Boise core.
STABILIZED RENT ROLL
In October of 2014, the occupancy rate was low upon takeover. Since then the occupancy rate has increased dramatically. Within the last 6 months, the rate has ranged from 94% - 97%. These “incubator” spaces have shown substantial demand over the past year to where tenants are signing 3-4 yearlong lease agreements. This park accommodates a diverse tenant base, providing an investor dependable cash flow. The rent roll is comprised of a wide range of industrial flex users such as contractors, distributors, wholesalers, and manufacturers. The average in-place effective lease rate range is $8.00 -$8.75 per square foot Modified Gross. This is considered market for Garden City, ID. This property will be auctioned on Monday, August 21 - Wednesday, August 23 . The price displayed is the starting bid amount of $950,000. For information and to register to bid on this property, please visit Ten-X.com.
