ACRES Capital, LLC (“ACRES”) is pleased to announce the funding of construction loan for the development of a 119,200 square foot industrial property located in Boise, ID. The Property consists of approximately seven acres and is 50% pre-leased to a local company. The remainder of the space will be marketed for lease. The Project represents an opportunity to build a new, modern industrial facility in a tight, upward trending market with dated inventory. The Property’s southeast Boise industrial submarket is ideally located and will benefit from a growing shift to regional distribution, necessitating industrial product to be closer to larger population centers or transportation hubs.
“ACRES is always seeking opportunities to enter new markets with experienced local Sponsors. This property sits directly across the street from the 2.8 million sf MICRON Corporate campus and is part of a submarket that exhibits 92% occupancy rate” according to Mark Fogel, President and CEO of ACRES.