916-462-6205
, Boise, ID for Sale
Retail - FOR SALE
1/5
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Hillcrest Shopping Center
Boise, ID
Central Bench


HIGHLIGHTS

  • MARKET DOMINANT GROCER WITH SIGNIFICANTLY BELOW-MARKET RENT – Albertsons holds the Boise MSA's highest market share.
  • LONG TERM HISTORICAL TENANCY – The in-place tenant roster has occupied space at Hillcrest for an average of nearly 12 years.
  • DIVERSIFIED, CREDIT-ANCHORED TENANT MIX – Approximately 57% of occupied space is leased to national/regional credit tenants including Albertsons
  • EMBEDDED NOI GROWTH – Projected 10-year NOI CAGR of 3.63%, driven by contractual rent steps, mark to market of expiring leases, and lease-up
  • ADJACENT TO HILLCREST COUNTRY CLUB – The Treasure Valley's most exclusive country club borders the Property, reinforcing the surrounding neighborhood
  • STRONG, IN-FILL DEMOGRAPHICS – 5-mile radius: ±226,000 population, $110,000 average HH income, and ±125,000 employees.

OVERVIEW

Palmer Capital Inc. is pleased to present the opportunity to acquire Hillcrest Shopping Center, a ±180,000 SF Albertsons-anchored neighborhood shopping center located at the NWC of West Overland Road and North Orchard Street in Boise, Idaho. Anchored by Albertsons, Planet Fitness, Family Dollar, and Ace Hardware, the Property benefits from a diversified, daily-needs tenant mix, a dense in-fill trade area immediately adjacent to Boise's Central Business District, and a location bordering the exclusive Hillcrest Country Club. With in-place rents meaningfully below market, a long history of tenant retention, and embedded rent growth as leases roll to market, Hillcrest Shopping Center offers a compelling combination of stable current income and long-term upside in one of the fastest-growing, most economically resilient markets in the country.

ASK ABOUT THIS PROPERTY

Mark PalmerPalmer Capital, Inc.More Info
916-462-6205

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Mark PalmerPalmer Capital, Inc.More Info
916-462-6205

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.