$15 million industrial property seeks a buyer in Buhl

The largest industrial or commercial structure for sale in Idaho has been on the market in Buhl for about a year and a half.

Seneca Farms largely pulled out of Buhl in 2016, leaving behind its massive production facility, once known for producing Green Giant canned vegetables.

At 575,764 square feet, the Seneca campus is more than 2½ times larger than the Walmart on Overland Road in Boise and also more than twice as large as any other commercial/industrial building for sale in Idaho, according to Colliers International research.

The asking price for the entire 130-acre property is $15.4 million, but it can be purchased or leased in segments. Seneca prefers an outright sale, said Devin Ogden, the Colliers International agent representing the property.

Seneca is still using about 100,000 square feet of warehouse for seed storage and all the 232,000 square feet of freezer space is in use, mostly by tenants. The 112,000-square-foot food production section is not in use.

“It’s all short-term,” Ogden said. “It’s intended to be flexible so we can accommodate a buyer.”

The building is the largest in Buhl. Colliers has listed the property for 1½ years.

“We’ve had offers placed but the gap (to the asking price) has been too big,” Ogden said. “It’s a big project in a rural area. Where are you going to get 300 to 500 people? That’s been a deterrent, too.”

The city of Buhl isn’t fretting about Seneca’s departure.

“It means it’s an opportunity,” said Scott Bybee, Buhl’s planning and zoning administrator as well as urban renewal administrator and city engineer. “The positive thing of all this is they were only a seasonal operation. What we seek now is making it full-time 365 days, 24 hours.”

Article from the Idaho Business Review: https://idahobusinessreview.com/2018/01/02/half-million-square-feet-seek-a-buyer-in-buhl/