Address: 1428 Madison Avenue, Nampa, Idaho
Project Type: 7 warehouse industrial park with multiple additional out buildings.
Square Footage: ±146,932 Square Feet Warehouse | ±60,000 Square Feet of Shed Structures | ±33 Acres
An international seed company had been trying to sell a large industrial facility with outdated capital equipment that was not being maintained. A significant impediment to selling the property existed: The site was an historic agricultural seed plant and had not undergone significant environmental testing in its history. Located on the property were warehouses totaling ±146,000 SF.
RMC assembled a team of environmental consultants to assess the property. The consultants determined that the property was in fact saleable on an “as is, where is” basis. Additionally, through its extensive local network and knowledge it became very apparent that the demand for industrial space in the Treasure Valley was out stripping supply and that very little new construction was occurring in the market. This facility had not been marketed as available to multiple tenants’ space and RMC realized the value could be realized by multi-tenanting the Property. With this in mind, RMC purchased the property at a discounted value and began to rebrand the Property and renovate the Property.
RMC is in the process of repositioning and leasing the I-84 Industrial Park (formerly known as the Rogers Seed facility) as a multi-user industrial facility. Lease-up and interest in the property has exceed RMC’s expectations.