Former Transportation Terminal Sold for ‘Crown Jewel’ Redevelopment Project in Downtown Boise, ID

BOISE, ID. – Cushman & Wakefield announced the sale of an ±0.84-acre redevelopment land site in downtown Boise, Idaho. Located at 1212 W. Bannock St and formerly used as a transportation terminal for the Greyhound Bus Company, the land has been slated for redevelopment by the buyer, Pacific Partners Residential, Inc., a large developer and operator of market rate, multi-family residential  communities throughout the western United States.

Curtis Cluff of Cushman & Wakefield and Matt Naumann of CBRE co-represented the buyer in the transaction. Jay Story of Story Commercial Real Estate represented the seller. The property sold for an undisclosed price.

Pacific Partners Residential’s purchase of this excellent downtown location confirms that the Boise MSA is a prime target for the development and acquisition of large, institutional quality assets,” said Curtis Cluff, Director. “Handsome rent growth, historically low vacancy rates and an incredibly high demand for more Class A residential living in the downtown core make the site an ideal location for a flagship property of any portfolio.”

Cluff added, “Pacific Partners’ track record of building award winning properties in emerging markets makes them the perfect fit for the development of what will be the crown jewel of downtown Boise residential living.”