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Albertsons Anchored Shopping Center with Development opportunity5100 W Overland Rd, Boise, ID 83705
HILLCREST SHOPPING CENTER
CONFIDENTIALITY AGREEMENT CLICK HERE TO EXECUTE AND DOWNLOAD FULL PACKAGE
ADDRESS:
5100 W Overland Rd, Boise, ID 83705
*Excludes excess land valued at approximately $1,140,000.
PRICE: $19,610,000 PRICE: 6.5%*
YEAR 1 NOI . . . . . . . . . . . . . . .$1,200,364
EXCESS LAND. . . . . . . . . . . . .±6.52 Acres (See pg. 19)
OCCUPANCY . . . . . . . . . . . . . .95%
LEASABLE SF . . . . . . . . . . . . .±173,476 SF
LAND AREA . . . . . . . . . . . . . . .±25.48 Acres (Includes Excess Land)
YEAR BUILT/RENOVATED . . .1963/2005/2011
AVG CURRENT RENTS . . . . .$7.52/SF
LOAN . . . . . . . . . . . . . . . . . . . .To Be Assumed (See pg. 38)
PARKING . . . . . . . . . . . . . . . . .±1,024 Spaces or 5.9/1,000 SF
ANCHORS . . . . . . . . . . . . . . . .Albertsons, Family Dollar, Planet Fitness
ARGUS AVAILABLE ON PG. 34
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HILLCREST SHOPPING CENTER | 2
Location
Treasure Valley’s Most
Exclusive Country Club
Hillcrest Shopping Center
Largest Public University in Idaho
Enrollment: 22,113
2 Miles from Hillcrest Shopping Center
Transitioning Neighborhood Among Most Dense Residential Area in BoiseHigh Barriers to Entry
SURROUNDING NEIGHBORHOOD
3 Miles from Hillcrest Shopping Center
HILLCREST SHOPPING CENTER | 3
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.5 MILES
S ORCHARD ST84
184
84
LIMITED GROCERY COMPETITIONAlbertsons is the dominant grocer in the Boise MSA with nearly double the amount of locations of the second leading grocer. The Property benefits from a dense in-fill location with a trade area that extends several miles south due to limited competition to the south of Interstate 84. Notably, only two neighborhood grocers compete within a two mile radius of the Subject, with minimal grocer competition directly south.
Grocery Competition
2 MILES
3 MILES
Hillcrest Shopping Center
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HILLCREST SHOPPING CENTER | 4
23,600 DAILY
72,500 DAILY
72,000 DAILY
76,500 DAILY
84
84
184
Hillcrest Shopping Center
BOISE TOWN SQUARE
EDWARDS BOISE 22 & IMAX THEATER
Aerial
W OVERLAND RD
W FRANKLIN RD
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HILLCREST SHOPPING CENTER | 5
Site Plan
*Site Plan Not To Scale
SITE PLAN KEY
LAND AREA: ±25.48 ACRES
BUILDING AREA: ±173,476 SF
AVAILABLE:
NOT A PART:
PYLON SIGN:
INGRESS/EGRESS:
W Overland Rd 21,279 DAILY
505052
12
RE-STYLE RESCUE THRIFT STORE
5266-5330
S Orchard St19,519 DAILY
S Phillippi St
Suite Tenant SF1337-5030 Planet Fitness 15,1375050 Family Dollar 8,0305100 Albertsons 53,4965120-1 Blimpie 1,6505120-2 Moxie Java 9995120-3 Available 1,2185120-5 Available 2,226
Suite Tenant SF5204 Hillcrest Floral 2,8325212-5226 Vets4Success 10,1035234 Mongolian Bistro 3,8005244 Camp Rhino Boise 19,7815264 City Public Library 8,2645266-5330 Re-Style Rescue 23,032
Suite Tenant SF5120-4 Tina Nguyen 1,2645150-1 Idaho Pizza Company 4,1165150-2 Idaho Pizza Company 2,181 5160 Tri-State Beauty Supply 4,9755170 Available 2,5005180 ID State Liquor Dispensary 5,0005200 Available 2,512
5160
5180
5204
5220
5234
5244
5120-15120-2
5120
-4
5150-1
5150-2
1337-50305100
5120-3
5120
-5
5170
5226
5264
±6.52 ACRES OF DEVELOPMENT
LAND
PYLO
N S
IGN
5200
POSSIBLE LIBRARY EXPANSION The City Public Library (Suite 5264) will likely expand into the hallway and corner portion of Re-Style Rescue Thrift Store, adding an additional 4,878 SF.
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HILLCREST SHOPPING CENTER | 6
Development Opportunity
W Overland Rd
S Phillippi St
CLUB HOUSE
SPLASH POOL
ONSITE DEVELOPMENT POTENTIALApproximately ±6.52 acres exists in the
southwestern portion of the Hillcrest Shopping Center site for future development. This was
the site of a former Fred Meyer grocery store, which was demolished in 2011 by the property owner. As shown on Page 20, the site is zoned General Commercial and could be utilized for a variety of uses. The current owners have explored a possible multifamily development on
the excess portion, which is an allowed use and is displayed in the adjacent site
plan. Approximately 108 units one- and two-bedroom units could be configured on-
site. The city and neighborhood were reportedly supportive of an apartment use when the owner
explored this in December 2014.
±6.52 ACRES ZONED GENERAL COMMERCIAL
2 BEDROOM UNITS
1 BEDROOM UNITS
COVERED PARKING
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HILLCREST SHOPPING CENTER | 7
1 MILES
3 MILES
5 MILES
HILLCREST SHOPPING CENTER
1-Mile 3-Miles 5-Miles2010 14,010 77,308 192,7612015 14,196 80,595 201,6472020 14,642 84,976 213,233
1-Mile 3-Miles 5-MilesAVERAGE $45,156 $47,270 $61,146MEDIAN $34,966 $36,092 $44,847
5 MIN
10 MIN
15 MIN 5-Min 10-Min 15-Min2010 24,992 82,647 189,0352015 24,701 88,231 224,3572020 25,556 93,106 238,480
POPULATION
5-Min 10-Min 15-MinAVERAGE $46,924 $49,129 $62,109MEDIAN $35,809 $37,054 $47,080
2015 HH INCOMES
Demographics
POPULATION
2015 HH INCOMES
DRIVE TIME DEMOGRAPHICS
RADIUS DEMOGRAPHICS
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HILLCREST SHOPPING CENTER | 8
Boise Area Info
BOISE OVERVIEW Boise is located in southwestern Idaho, about 41 miles east of the Oregon border, and 110 miles north of the Nevada border. Boise is the capital city and largest city in Idaho. The economy is a diverse blend of agriculture, agricultural processing, manufacturing, and high tech industries.
ECONOMY Boise is headquarters for several companies including Boise Cascade LLC, Albertsons, WinCo Foods, and Idaho Pacific Lumber Company. The area’s largest private, locally based employer is Micron Technology, employing over 9,500.
TRANSPORTATION The major interstates serving Boise are I-84 and I-184. Interstate 84 connects Boise with Portland, Oregon and Salt Lake City, Utah.
MAJOR ATTRACTIONS Extensive hiking and biking are major attractions in the Boise area. The Bogus Basin ski area is located 16 miles from the city limits and hosts multiple winter activities including skiing, snowboarding, cross-country skiing, and snow tubing. Boise is a regional hub for jazz, theater, and music. The Gene Harris Jazz Festival is hosted in Boise each spring, attracting spectators from surrounding areas.
9.8%POPULATION GROWTH BETWEEN 2010-
2015 OVER THE NATIONAL AVERAGE
JOB GROWTH FROM 2006 TO 2015
11% BOISE TOP 10 EMPLOYERS
COMPANY ± EMPLOYEES
Micron Technology, Inc. 9,500Saint Luke’s Regional Medical Center 4,250Hewlett-Packard Company 4,000J.R. Simplot Co. 3,800Albertsons 3,800Saint Alphonsus Regional Medical Center 3,373Boise State University 2,895DirecTV 1,400Wal-Mart 1,200Fred Meyer 1,200
BOISE STATE UNIVERSITYBoise State University is Idaho’s fastest-growing research enterprise. In less than a decade, Boise State has more than doubled their out-of-state student enrollment and boosted the number of bachelor’s, master’s and doctoral degrees awarded each year by 52 percent. Current enrollment is over 22,000, which is the largest public university in the state.
UNEMPLOYMENT RATE (LOWEST COMPARED TO NEIGHBORING
METRO AREAS)
3.6%
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HILLCREST SHOPPING CENTER | 9
PETER [email protected] | (503) 607-0197
SEAN TUFTS [email protected] | (206) 743-8468
SEAN MACK [email protected] | (503) 675-8378
MICHAEL [email protected] | (503) 675-8381
KEVIN ADATTO [email protected] | (503) 675-7726
Contact Information
Capital Pacific is a Commercial Real Estate Brokerage Firm specializing in Retail
Investment Sales in the Pacific Northwest as well as Nationally.
Our goal is to deliver results for our clients while providing a level of service that will
earn repeat business. We have a very human approach that we call the Capital Pacific
Experience - CPx. Our team works together on every single assignment, which ultimately benefits our clients.
Today Capital Pacific has offices in Seattle, Portland & San Francisco.
WE SELL COMMERCIAL REAL ESTATE BUT WE VALUE PEOPLE
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FOR MORE INFORMATION ON HILLCREST SHOPPING CENTER, PLEASE CONTACT:
LOCAL LEASING REPRESENTATIVES
ANDREA NILSONCushman & Wakefield/[email protected] | (208) 287-8439
LEANN HUMECushman & Wakefield/[email protected] | (208) 287-8436
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