Jones Lang LaSalle Inc.
04/07/2025 | Press release | Distributed by Public on 04/08/2025 21:49
Financing secured for two industrial outdoor storage properties in Boise, ID
DENVER, Apr. 7, 2025 - JLL Capital Markets announced today that it has arranged financing for two industrial outdoor storage (IOS) properties totaling approximately 750,000 rentable square feet in Boise, Idaho.
JLL worked on behalf of the borrower, Bespoke Holdings, to secure two separate loans totaling $6.18 million through a regional bank.
The properties include 4620 S. Apple St., a 476,111-square-foot IOS facility, and 2171 E. Danzee Dr., a 264,932-square-foot IOS property. Both assets are strategically located in southeast Boise with easy access to Interstate 84, providing tenants with excellent transportation links throughout southern Idaho and close proximity to Boise Airport.
The financing for 4620 S. Apple St. facilitated the acquisition and horizontal improvements for the site, which sits on 10.93 acres and is currently being redeveloped with approximately $2 million in capital improvements to create three rentable lots.
The financing for 2171 E. Danzee Dr. facilitated the refinance of the 6.08-acre site that is 100% leased to two tenants - Conmas Construction and Capital Lumber Company. Following the completion of construction at Apple St., both properties will be improved with prominent IOS features such as fenced and lighted storage yards with engineered surfaces to support heavy industrial uses.
The JLL Capital Markets team representing the borrower was led by Director William Haass.
"These well-located IOS assets are poised to benefit from Boise's robust economic growth and severely supply-constrained industrial market," said Haass. "IOS is an emerging asset class in the debt capital markets, but lenders are starting to create solutions to meet borrower's needs."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Bespoke Holdings
Bespoke Holdings Company is a proven investment management company that generates process driven results via custom-tailored processes and expert analytical approaches, further accentuated by their in-house property management services, to realize their desired performances in industrial real estate investments. In everything they do, Bespoke aims to positively impact and better the lives of their business associates. They believe strong relationships with investors, brokers, tenants, and lenders lead to superior performance.