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9/08/23
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A fully entitled 12.71-acre industrial development site in Caldwell (Boise), ID was purchased by an unnamed transportation company. The shovel-ready site is located at Smeed Pkwy and Skyway St, within the Sky Ranch Business Park development.
The location provides easy access to the Caldwell Executive Airport, Highway 20/26 and Interstate 84 On/Off Ramp 29 and is an ideal location for a variety of industrial uses. It is also surrounded by many new and existing industrial and service-related industries. The site also features existing improvements including sidewalk, curb, gutter, multiple fire hydrants, and on-site transformers.
Cushman & Wakefield’s Stephen Fife represented the seller, the Upson Family, in the sale. The buyer was repped by Alison Castro of Cresa and Greg Gaddis of Tenant Realty Advisors.
“This was a desirable site in the Sky Ranch Business Park that remains an attractive location for industrial development,” commented Fife. “Caldwell remains a great logistical location given its convenient paths to markets including Seattle/Portland, Reno, Northern California, and Salt Lake City, as well as multiple ports in play within a day’s drive.”
According to Cushman & Wakefield’s latest market stats, Boise Metro’s industrial market saw occupancy increase nearly 220k sf during Q2-2023, bringing total net growth at the mid-year point to nearly 835k sf. Overall industrial market vacancy end Q2-2023 at 4.8%. The Boise industrial market continued its high velocity growth pattern, with over 1 msf of product delivered in Q2 2023 and over 1.8 msf of delivered year-to-date. Meanwhile, overall weighted asking rents rose to $0.91 per square foot per month triple net per month, up from $0.86 psf in the first quarter.
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