Address: 200 Broad Street, Boise, Idaho
Year Acquired: 2013
Project Type: Redevelopment of Warehouse into LEED Platinum Certified Class A Office
Square Footage: ±19,745 SF
CSHQA, a regional architecture and engineering firm, desired to relocate from its location in a multi-tenant office tower into a signature property for their corporate headquarters that reflected their architectural capabilities. Additionally, obtaining a LEED Platinum certification was key for its corporate mission and for marketing purposes with clients. CSHQA identified an existing dilapidated warehouse in a desirable location and approached the owner, a construction company with notable holdings, to arrange a redevelopment-to-suit. While both parties wanted to do the deal, they were unable to structure a transaction that worked for both parties and was a viable, financeable, commercial real estate project.
After months of little progress, the property owner requested RMC’s assistance in order to complete the transaction as the developer. RMC produced financial models of the property and identified the necessary lease and economic structures to enable a project. After advancing these concepts with all parties, the approach was agreed to and the property was redeveloped into a “best in class” office property in downtown Boise.
RMC partnered with CSHQA (Tenant & Architect) and the Wilcomb Family (Contractor) to develop the first LEED Platinum redevelopment in Idaho.