Colliers International Assists in the Purchase of Boise’s Washington Group Plaza
-- Four buildings totaling 622,000 square feet --
Boise, ID – George Iliff, Clay Anderson, Scott Feighner and Lew Manglos of Colliers International in Idaho represented the buyer in assuming ownership of the Washington Group Plaza campus on March 8, 2018. An investment consortium purchased the property from Second City Partners, a Vancouver, British Columbia, private-equity partnership.
Washington Group Plaza, previously known as the Morrison Knudsen Co. campus, is 622,000 square feet dispersed over four buildings along East Park Boulevard, and includes a dedicated parking garage. The campus will be home to more than 1,500 employees and tenants.
Investment Specialist Clay Anderson, discusses the deal in more depth:
“Colliers was instrumental in helping our client model financial implications for a transaction of this nature and size. It involved reviewing each floors’ tenant-mix, working multiple stacking-plans, and determining not only a purchase-transaction timeline, but also an occupancy-by-space timeline.”
“In addition to negotiating pricing and terms for the transaction, Colliers was able to help the buyer better understand the positive impacts of the transaction and the unique opportunity they were presented in acquiring this asset.”
“This transaction allows the buyer to consolidate many shared-services, creating efficiencies for the organization and reducing occupancy costs.”
The purchase will allow employees currently spread over more than a dozen buildings to merge into a more efficient location.