24th ANNUAL COMMERCIAL REAL ESTATE SYMPOSIUM
A LIGHT IN THE INDUSTRY At Zions Bank, we have a rich history of helping the community thrive during uncertain times. We’ve helped developers, property managers, building owners and others for nearly 150 years. And we’re with you now, offering a full range of commercial real estate products and services that can help you reach your goals. To learn more, visit your local Zions Bank or zionsbank.com
A division of Zions Bancorporation, N.A. Member FDIC NMLS# 467014 Equal Housing Lender
2011-WF2365438 BOMA 2021 Ad-v3.indd 1 12/10/20 4:33 PM BOMA IDAHO 2021 SYMPOSIUM PROGRAM 1
ECONOMIC OUTLOOK PRESENTED BY ZIONS BANK
At Zions Bank, we have a rich history of helping the community thrive during uncertain times. We’ve helped developers, property managers, building owners and others for nearly 150 years. And we’re with you now, After 10 consecutive years of labor market growth, the fastest rate of population growth in the U.S. over the U.S. economy lost nearly all its post-Great Recession same period. In-migration has played a big role in offering a full range of commercial real estate products and services that gains in April 2020 due to the coronavirus crisis. Al- population growth, accounting for 73.5% of Idaho’s can help you reach your goals. though the U.S. had regained 57% of its lost jobs as of population growth in the last 3 years. November, the U.S. lost 140,000 jobs in December and After slowing briefly during the spring coronavirus To learn more, visit your local Zions Bank or zionsbank.com remains almost 10 million jobs below its February 2020 shutdowns, Idaho’s housing market has roared back. peak. Looking forward to 2021 there is reason to have As of November, Idaho had the fastest home price optimism about employment growth. Roll out of the appreciation in the country at 14.4%. November also coronavirus vaccine should allow the economy to fully marked the fastest year-over-year housing growth in reopen by the end of the year and increased federal Idaho in 14 years. Supercharged housing price growth spending should ensure any job declines occurring has been the result of exceptionally low housing stock as a result of temporary shutdowns do not become due in part to coronavirus-related hesitance to sell, permanent. It is unlikely that the U.S. labor market will coupled with increased supply and demand primarily return to full strength in 2021, but there is good reason from out-of-state home buyers. While home value to hope that the economy will continue to speed up as it appreciation is often welcomed by homeowners, it heads into 2022. limits the availability for first-time buyers and low- Going into the coronavirus crisis, Idaho had one of the er-income families because income growth has not strongest economies in the nation. Like the rest of kept pace with price appreciation. Rising home prices the nation, Idaho’s labor market suffered significant are likely to continue in Idaho throughout 2021, with setbacks as a result of the coronavirus crisis. Fortunately, home affordability remaining a top concern for state the Gem State was able to regain its momentum to policy makers. have one of the strongest labor markets in the nation. As of November, Idaho had a 4.8% unemployment Zions Bank is a division of Zions Bancorporation, N.A. rate and was the only state in the nation to gain jobs Member FDIC. Content is offered for informational purposes year-over-year. Since bottoming out in April, Idaho has only and should not be construed as tax, legal, financial or added 79,700 jobs and is only 3,400 jobs shy of where business advice. Please contact a professional about your it was in February of last year. The return of leisure and specific needs and advice. Content may contain trademarks hospitality jobs this year should ensure that the Idaho or trade names owned by parties who are not affiliated with labor market returns close to where it was in early 2020. Zions Bancorporation, N.A. Use of such marks does not From 2019–2020, Idaho had the fastest-growing pop- imply any sponsorship by or affiliation with third parties, and ulation in the nation at 2.1%, according to U.S. Census Zions Bancorporation, N.A. does not claim any ownership Bureau estimates. From 2010 to 2020, Idaho grew by of or make representations about products and services 16.6% or around 1.7% per year, which was the fourth offered under or associated with such marks. A division of Zions Bancorporation, N.A. Member FDIC NMLS# 467014 Equal Housing Lender
2011-WF2365438 BOMA 2021 Ad-v3.indd 1 12/10/20 4:33 PM 2 WE HAVE PLENTY OF ROOMTO GROW!
With incentives to help you save energy and money.
Idaho Power has the resources to take your business to the next level: • Our business prices are 30% below the national average. • Nearly 50% of our energy comes from clean, renewable hydropower. • We offer cash incentives for businesses of all sizes who design and build facilities with energy efficient technologies, systems and strategies. Clean today. • We awarded about $17 million to businesses who participated in energy-saving programs in 2019. Cleaner tomorrow.® We’ve set a goal to provide We’re moving at 100% clean energy by 2045. the speed of business® idahopower.com/business BOMA IDAHO 2021 SYMPOSIUM PROGRAM 3
ENERGY EFFICIENCY HELP IDAHO HUMANE INCENTIVES SOCIETY GROW
Idaho Power has been powering businesses with reliable, affordable, clean energy since 1916. Today, the company prides itself on being a trusted energy advisor to businesses large and small. One way the company helps businesses grow is by providing incentives for energy efficient products and services.
The New Construction and Major Renovations program not only savings in energy efficiency but also a lot offers cash incentives to help cover a portion of the more comfort,” said Dr. Jeff Rosenthal, CEO of Idaho costs of designing and building energy-efficient Humane Society. features into a commercial or industrial construction In addition to energy savings and improved comfort, project. New construction, major renovations, additions Idaho Power provided IHS with cash incentives or expansions and change-of-space type are all eligible. through Idaho Power’s Commercial and Industrial En- These incentives can help businesses lower their month- ergy Efficiency Program. The energy saved through ly energy bills by making energy efficient choices in this program is enough to power eight average-sized lighting, HVAC, building shell, controls, compressed air Idaho homes for a year, and the incentives will help systems, refrigeration and appliances. people and pets for years to come. The Idaho Humane Society (IHS) is just one business “With the money we’re saving on energy, we’re that benefited from energy efficient upgrades. The expanding our humane education program new building in Boise provides a more comfortable welcoming more and more children into our facility. location to adopt out more dogs and cats than ever We’re increasing our ability to provide medical care before. It is also equipped with the latest in energy- for pets belonging to low income folks and also pets saving technology. Energy-saving features include that come into the shelter and are re-homed but HVAC controls, LED lights and lighting controls, need medical care or spays and neuters,” Rosenthal reflective roof coating and insulation, and efficient said. “So, all of our programs here from adoptions to window glazing and thermochromic glass that tints outreach in the community are really augmented by the windows when needed. having savings.” “Not only is this facility energy efficient, but all of our systems work so much better. The air handling is so much more precise, there’s no odor in this building, the If you are working on a project and want to learn sound is minimized, the lighting is terrific. It’s a very more about available energy-efficiency incentives, restful environment for our animals. So, we achieved please visit idahopower.com/business.
SUBMITTED BY: 4 AAA ROOFING BY GENE, INC.
INSTALLING OVER 150 MILLION SQUARE FEET OF ROOF SURFACE SINCE 1989. CALL TODAY FOR YOUR FREE ROOF EVALUATION REPORT! (208) 407-1912
REROOFS NEW CON MAINTENANCE SERVICE CALLS INSPECTIONS
SINGLE-PLY (TPO/PVC) METAL COATINGS BUR
(208) 407-1912 ID P.W. LIC. # 039508-AA-4 WWW.AAARFG.COM ID LIC. # RCE-49619 BOMA IDAHO 2021 SYMPOSIUM PROGRAM 5 AGENDA WELCOME ADDRESS • Master of Ceremony, Krisjan Hiner, Stack Rock Group LESSONS LEARNED: CONSTRUCTING DURING COVID • Video Presentation by ESI Sponsored by ESI and Idaho AGC SPONSOR RECOGNITION COMMERCIAL BREAK THE STATE OF COMMERCIAL REAL ESTATE • Sara Shropshire, Cushman & Wakefield Pacific • Amanda Snoey-Holladay, Colliers Idaho • David Tucker, Allied Universal • Devin Pierce, TOK Commercial • Trever Nicoll, BVA Development COMMERCIAL BREAK PRESIDENT’S MESSAGE • Justin Cranney, Hawley Troxell, 2019–2021 BOMA Idaho President THE FUTURE OF BOMA IDAHO • Kelly Schnebly, Colliers Idaho, 2021–2023 BOMA Idaho President GENERAL SESSION • VIDEO – Redevelopment Update – presented by CCDC • VIDEO – Energy Efficiency Incentives – presented by Idaho Power THE ECONOMIC IMPACT OF COVID ON COMMERCIAL REAL ESTATE: MOVING FORWARD IN 2021 AND BEYOND • Wes Jost, Zions Bank • Ryan Cleverley, BVA Development • Chase Erkins, Lee & Associates • Neil Nelson, ESI • Shellan Rodriguez, SMR Development • Scott Schoenherr, Rafanelli & Nahas THE POWER OF BOMA INTERNATIONAL: AN ASSET FOR EVERY MEMBER Keynote Presentation Sponsored by Clark Wardle • Geoff Wardle, Clark Wardle • Shelby Christensen, BOMA International • Henry Chamberlain, BOMA International NETWORKING 6 THE HAWLEY TROXELL WAY CLASS A AND FULL SERVICE
You’ve heard real estate is all about location, location, location. We say it’s all about making the right move at the right time. Our Real Estate Group understands this fast-paced industry and can help you make important strategic decisions about transactions, financing, and land use that will pay off. And, best of all, our nationally renowned legal services come with a local address.
BOISE / COEUR D’ALENE / IDAHO FALLS / POCATELLO / RENO Call 208.344.6000 or visit HawleyTroxell.com BOMA IDAHO 2021 SYMPOSIUM PROGRAM 7 THE HAWLEY TROXELL WAY CLASS A AND MESSAGE FROM THE PRESIDENT Welcome and thank you for attending the twenty-fourth annual Commercial Real Estate Symposium. Welcome FULL SERVICE to our elected officials from around the valley and from around the state. Thank you for coming today.
One year ago, I stood before you in person at the colleagues, city and state officials, partner associations, You’ve heard real estate is all about 2020 Symposium to present the President’s message. and friends. These relationships have assisted BOMA At that time, COVID-19 still had not yet impacted our Idaho in carrying out our mission of making our mem- location, location, location. We say lives to any great degree and my message focused on bers better professionals through advocacy, networking, upcoming events and participating in BOMA Idaho’s and educational opportunities. it’s all about making the right move traditional events, such as our monthly meetings and Lastly, as a Board of Directors, we are appreciative of at the right time. Our Real Estate the annual golf tournament. Unfortunately, last year’s the support we receive from our sponsors, partners, educational programs, building tours, and socials had BOMA members, and attendees. While everyone Group understands this fast-paced to be cancelled due to the COVID-19 crisis. How quickly has struggled during the last year, the support and life can change! sponsorship commitments for the 2021 Symposium set industry and can help you make The benefits of being part of BOMA have become a new record for BOMA Idaho. Our membership has more evident than ever during the past year. BOMA remained active, and continued to thrive using creative important strategic decisions about International has led the nation in addressing our methods of planning, promoting, and attending events industry’s needs during COVID-19 and has released throughout the year. Thank you for your encourage- transactions, financing, and land use guidance documents to provide commercial real estate ment and support. that will pay off. And, best of all, our professionals with credible information on how to We miss the social interaction of in-person meetings mitigate the potential health and business impacts of and events. We look forward to returning to normalcy nationally renowned legal services the pandemic. BOMA International continues to monitor and to growing even greater social and professional the latest COVID-19 developments for its members and relationships in 2021. Here is to 2021! come with a local address. post resources on BOMA International’s web page. But what has been equally impressive is the resilience of our BOMA Idaho members. We have seen amazing flexibility during the shutdown as BOMA Idaho has We hope you enjoy worked to stay connected with our members, the Symposium!
Justin Cranney Partner, Hawley Troxell BOMA Idaho President BOISE / COEUR D’ALENE / IDAHO FALLS / POCATELLO / RENO [email protected] Call 208.344.6000 or visit HawleyTroxell.com 8 OUTSIDE SHOULD BE AWESOME At Stack Rock Group we’re all about the process, the project, and the client. We check our egos at the door. The best idea always wins and you’ll never hear us utter the phrase “But it’s always been done that way.”
• Free Landscape Consultations • 3D Rendering • Planning • Landscape Architecture and Design • Public Art Installation • Mining Reclamation Consulting • Irrigation Design • Construction Consulting
208-345-0500 STACKROCKGROUP.COM BOMA IDAHO 2021 SYMPOSIUM PROGRAM 9
PRESIDENT OUTSIDE SHOULD BE AWESOME Justin Cranney Hawley Troxell [email protected] At Stack Rock Group we’re all OFFICERS about the process, the project, AND BOARD OF DIRECTORS and the client. We check our egos at the door. The best idea always wins and you’ll never hear us utter the phrase “But it’s VICE PRESIDENT always been done that way.” Kelly Schnebly Colliers International Sean Buckallew Trever Nicoll • Free Landscape [email protected] Nations Roof BVA Development Consultations • 3D Rendering
• Planning Victoria Cleary Steve Panzella City of Meridian RMR Real Estate Services • Landscape Architecture SECRETARY and Design Krisjan Hiner Stack Rock Group • Public Art Installation [email protected] Chase Erkins Jeff Shaffer • Mining Reclamation Lee & Associates TOK Commercial Consulting • Irrigation Design
• Construction Consulting Mitch Hintze Sheree Willhite TREASURER Cutting Edge Services Idaho Power Zach Bolen LambWeston [email protected]
Ted Isbell Dave Winder CSHQA Cushman & Wakefield Pacific
ASSOCIATION EXECUTIVE Anita Keil Jana Knoll ESI [email protected] 208-345-0500 STACKROCKGROUP.COM 10 BOMA IDAHO 2021 SYMPOSIUM PROGRAM
CCDC REDEVELOPMENT UPDATE
“Well, you know, the global pandemic Doug Woodruff definitely threw some wrenches in the Development Director cogs of construction activity. And so, it’s really a testament of how the development community here in Boise really does have a collaborative spirit. And as problems came up, we just put our heads together and figured out how we move through this. So, it’s really exciting to see the building finished up. They’re starting to wash the windows and polish up the interiors, so what a wonderful sign of success through a really challenging time.”
1412 BOMA IDAHO 2021 SYMPOSIUM PROGRAM “MR. PARKING” CCDC’S MAX CLARK LEAVES LEGACY OF SERVICE IN DOWNTOWN BOISE Parking garages aren’t generally celebrated for their outstanding views. But for Max Clark, Boise’s downtown parking structures provided a front-row seat for the many dramatic changes the city has experienced over the past two decades.
Max was no mere spectator to those changes. His A visit to Boise to see a former Bellevue colleague extraordinary work helped give Boise the thriving city Phil Kushlan, then CCDC’s executive director, resulted center it has today. in a job offer here in 2001. Max retired in December 2020 after 20 years as Director “The city just blew me away,” he says. “The brick side- of Parking & Mobility for Capital City Development walks and the trees, and the bones of the city. Boise Corp., Boise’s redevelopment agency. His job, in short: wasn’t on my radar, but my wife and I said, ‘Well, why “Park cars and babysit bricks,” he says—that is, manage not? This is going to be an adventure.’” the central business district’s 3,400 off-street parking It was an adventure, but not always a happy one. spaces while also overseeing streetscapes, particularly Throughout the early 2000s, downtown Boise the popular, walkable public gathering space along struggled to find its footing. CCDC’s urban renewal Eighth Street. districts, the financial engine for improvements to Over the course of those years, Max saw downtown the central core, were underfunded, which meant evolve from a scrappy but struggling city center to enhancements were limited and maintenance some- one of the West’s most dynamic metropolitan hubs. times deferred. Parking garages were a tough sell to He became “Mr. Parking,” the human face behind down- Boiseans accustomed to on-street parking. town’s seven public garages. And though few residents “People don’t want to pay, and people don’t want to realized it at the time, those garages played a crucial walk,” he says. “They would not go in those parking role in giving Boise the kind of healthy, prosperous structures and would do everything they could — downtown that many cities can only wish for. circle the block 52 times — to find an on-street space.” “We became a true urban core—a 24/7 city,” Max says. “The people downtown wanted good coffee; they wanted a good restaurant, and by golly they wanted to go to The Flicks for arthouse stuff. (With the garages), we at least set the right tone.” Max grew up in the Yakima Valley and attended Washington State University and then the University of Washington’s Graduate School of Public Affairs. He began his career in municipal government at the city of Bellevue, Wash., working in multiple roles in several departments over 20 years, “a jack of all trades and master of none,” he says. BOMA IDAHO 2021 SYMPOSIUM PROGRAM 13
Yet the agency, with Max in the lead, was certain that Those efforts eventually paid off as Boise emerged parking garages would work to improve the economic from the 2008 recession and started to gain national growth downtown. Among his key innovations: “first attention by 2014. Corporate investment downtown hour free” parking, which Boise was among the first had a resurgence, and drew employees who were cities in the nation to adopt and has since become the seeking a true urban experience. The cycle of invest- industry standard. “It was wildly successful. It gave ment generated the resources for CCDC to assist Max was a member of BOMA people an incentive to come downtown. Everybody more than ever before. Idaho for 15 years. He served on likes ‘free,’ right?” he says. From 2014 to 2019, as the agency helped investors committees, special task forces, But Max’s main focus was on the basics: keeping build hotels, apartments, and expand the convention and as Association Secretary and garages clean and ensuring they were safe and center, garage occupancy boomed. Waiting lists a member of the Executive Board well-maintained so customers would no longer think of 200 or more for monthly spots ensued, a first for for 9 years. twice about parking there, and that meant juggling the the agency. He represented BOMA Idaho in priorities from a myriad of users and organizations. “Max did a great job leveraging our parking and many capacities with BOMA Inter- “My forte was developing relationships and trust with mobility assets to attract more people and develop- national and has been a mentor people,” he says. “I made it a point never to pack a lunch. ment to downtown,” says John Brunelle, executive and leader to countless members I ate out — and my waistline will attest to this — every director of CCDC for the past eight years. “He is also and friends. We wish him well lunch. The understanding was that the business owner a creative problem solver. In 2017 we reallocated in his retirement and miss him got the first 10 minutes to bend my ear. I gave them my spaces to meet the market need, and we introduced greatly! cell phone number and told them I wanted to hear from garage-based pricing adjusted to meet demand, an them if they had a problem. And I did.” innovation at that time. Max played a key role.” In retirement, Max says, he and his wife, Linda, plan to stay in Boise. “I love the four seasons; I love my downtown view; I know I have way too many good restaurants to choose from. I can walk everywhere except the three miles to go play tennis and the two hours to go sailing up in McCall. Now the challenge is to live long enough to enjoy it.”
SUBMITTED BY: 14 15
DISCOVER THE DIFFERENCE.
230 North Idaho WORK WITH IDAHO’S Units PROPERTY MANAGEMENT EXPERTS.
230 Eastern Idaho Units
230 Boise Valley Units
230 Magic Valley Units
(208) 378.4600 | tokcommercial.com 16 BOMA IDAHO 2021 SYMPOSIUM PROGRAM MARKET REPORT
While the impact of COVID-19 on Idaho’s commercial real estate markets continues to play out, it is helpful to consider various metrics across the different sectors of the market. INDUSTRIAL the total number of Amazon facilities in the Treasure Valley to six. Amazon’s growing presence will make the company The average lease rates for Industrial product has risen. one of the largest employers in Idaho and ultimately spark 2019’s average asking lease rates were $0.65/SF, NNN. more development and economic growth. 2020 average asking lease rates have jumped by 13 percent to $0.70/SF, NNN. Incredibly, the final quarter of OFFICE 2020 also delivered 100 closed transactions to the Indus- In a year that saw remote work surge and corporations trial market, breaking the previous transaction record set embrace a new, more flexible workforce model, Idaho’s in Q4 2013. Office market continues to attract tenants who are very 2021 is expected be another banner year for the industrial committed to securing office space across the state. In Q4, sector with over 800,000 SF of new construction antici- the office market surpassed 200 transactions - a first for pated to deliver. A large majority of these projects will be that sector. Sublease space increased dramatically – from new speculative spaces including two buildings totaling 150,000 square feet pre-pandemic to 365,000 square feet 280,000 square feet at 16570 Northside Blvd in Nampa in Q4 2020. and 175,000 square feet on Hickory Avenue in Meridian. Similar to what has been seen for years in the residential It is expected many of these speculative spaces will lease market, the Boise MSA remains high on the list for many up within 3 to 5 months and ultimately keep vacancy rates companies looking to relocate from coastal markets. Calls in the 2.5 to 3.5 percent range. The competitive market from out-of-state companies looking to relocate back will also keep lease rates on their upward trend, hitting the office/administrative support continue to be common- mid- to high-$0.70 per square foot (NNN, monthly) range place. With the new construction that has been delivered, by late 2021. and the available sublease space, the Boise market finally The demand for bigger warehouse and distribution space has options for such relocations. In 2020, 29 percent of will become a trend in the industrial sector especially the space leased in the Boise MSA was from businesses considering the major surge in online shopping over the new to the area. Another 30 percent of deals were local past 12 months. This has ultimately pushed consumer companies that were expanding with additional locations goods companies to add more distribution space, most or growing into larger spaces. notably Amazon. In addition to their new fulfillment center Lease rates will likely remain flat for the first part of 2021 in Nampa, the company is planning to build an estimated as the new product is being absorbed. Class B office 250,000 square foot sortation center at Boise Gateway rates could get more competitive as they compete with Industrial Park in South Boise as well as a 140,000 SF de- sublease availabilities, however new construction rates livery station in Meridian. These two additions will bring up will remain near record highs as the cost of tenant im- BOMA IDAHO 2021 SYMPOSIUM PROGRAM 17
provements has not seen any decline. Tenants may seek in 2020 was with tenants opening additional locations or a slightly lower rate, or higher improvement allowance, in expanding into larger spaces (37 percent). exchange for longer lease terms. New construction will also be a trend for the Retail market New construction will remain strong in 2021, though in 2021. There are a number of apartment projects slated it will likely slow from the record high volume of 2020. to complete construction in both downtown Boise and More buildings will be completed at the Ten Mile Crossing Meridian, and nearly all of them have retail space available project in Meridian, as well as new projects in Eagle such on the ground floor—as both an amenity to those living as the PetIQ headquarters and Intuit’s second building at in the building and those who work nearby. The 80,200 Lakemoor. square foot WinCo at Chinden & Linder is also slated to deliver late in the year. RETAIL Throughout 2020, average asking rates continued to Retail properties were impacted significantly by the climb, with the average rate for the market reaching COVID-19 pandemic. As Idaho retailers were presented $18.00 per square foot (NNN, annual). Rent for newly with ensuring the health and safety of their employees constructed space will likely remain at record high levels and customers, they successfully pivoted their business throughout 2021 given that the cost of tenant improve- models and embraced curbside, online delivery systems ments is unlikely to abate in the near future. Overall asking that offered customers convenience and the food or rates will likely remain at their current levels for existing or goods they craved. Surprisingly, Retail vacancy rates second generation space. only increased by 0.2% over 2020 which is a testament to Idaho retailers’ successful innovations. In Q4 2020, the number of Retail transactions was up 22 percent over the previous 9-month average. In the past 12 months, 22 percent of retail activity was driven by tenants new to the Boise MSA. This trend is SUBMITTED BY: expected to continue as Idaho remains one of the more business friendly states to operate within. According to the State Economic Competitiveness Index, Idaho ranks 3rd in the nation for economic growth outlook. This high ranking is attributed to the cost of doing business and ramp up time through permitting and regulations that companies experience. The largest portion of transactions completed 18
We Build Amazing Spaces Where Employees Love To Work
facility furniture |construction | services | technology oecworks.com 208.385.0507 BOMA IDAHO 2021 SYMPOSIUM PROGRAM 19 POISED FOR GROWTH AGAIN When ICCU began serving its community in Boise, Idaho, as a small, state-chartered credit union, it had only 22 members and $300 in assets. Since then, ICCU boasts more than 400,000 members, holds over $6 billion in assets throughout Washington and Idaho, and advertises, “Your nearest branch in your pocket.” It is safe to say that the company has had to deal with growth more than once. With a data center in Chubbuck, a Member Service Center North in Coeur D Alene, and employees scattered throughout the Treasure Valley, it was time for ICCU to grow again. This time, it would plant roots in Meridian.
CEO Kent Oram had been keeping an eye out for the right “What I really like about working with ICCU is that property for years. When the property became available, they value the community that they go into. They Oram walked the land with stakes in hand and marked are building financial institutions that are there for out where he wanted the building to go. Working very the long term and it shows.” ~ Mark Heazle, partner closely with Ball Ventures Ahlquist (BVA) and Tommy at Lombard Conrad Ahlquist, ICCU turned the building into a reality. In 24–26 short months, ICCU went from purchasing the property There are also many exciting spaces within the ICCU to opening its doors. Between BVA’s work to expedite the offices that were designed and installed by OEC. Floor entitlement process and Okland Construction’s excep- to ceiling glass walls and doors are used extensively tional speed, they completed the Member service Center throughout the executive offices and beyond to West a year sooner than anticipated. provide natural light and incredible views. Soundproof wall systems create privacy for telebanking operators For a bank dedicated to taking care of its client’s banking who interact with clients virtually. Meanwhile, training needs, the project’s speed will be instrumental in its rooms help employees grow their knowledge while future growth. The building stands today at five stories various break rooms and ancillary spaces provide tall and is in the Eagle View Landing development. It sits opportunities to interact. The building that was once prominently next to the freeway and has an excellent on the horizon for ICCU now brings together teams view of the Boise foothills. While ICCU built the entirety from around the Treasure Valley specializing in mort- of the space, it will share the building with other tenants. gage and commercial lending, private client accounts, That is where the architects of the project, Lombard investments, business, and deposits. Conrad, really made this new building special. Their goal all along was to represent the owner [ICCU] through the In the past, the executive team used to joke that they architecture. They also knew that ICCU would only be were poised for growth. After years of steady growth taking over about half of the building, so they needed throughout Idaho and surrounding states, ICCU to represent ICCU and future tenants. One such space is had nearly run out of room. However, after walking the plaza area outside the building. It provides a place for through the new Member Service Center West, CEO tenants to gather outdoors and relax. The Plaza is also the Kent Oram can confidently say, “We’re poised for perfect example of what it looks like to build a financial growth again.” institution that not only values its community but is here for the long term. SUBMITTED BY: 20 BOMA IDAHO 2021 SYMPOSIUM PROGRAM THE STATE OF COMMERCIAL REAL ESTATE SARA SHROPSHIRE DAVID TUCKER CUSHMAN & WAKEFIELD PACIFIC ALLIED UNIVERSAL [email protected] [email protected]
Sara Shropshire is an Associate Director Retail David Tucker is the Business Development Specialist with Cushman & Wakefield Pacific, Manager for Idaho, Montana and Wyoming. specializing in retail and investment transactions He is focused on developing security solutions throughout the State of Idaho. Her broker duties with a focus on commercial office, corporate primarily focus on existing and prospective campus, retail, healthcare, manufacturing and tenant relations. She develops an understanding residential facilities throughout the region. of each of her tenants’ requirements by identify- David is a true consultant that emphasizes ing their business goals, operational and space return on investment and the customer requirements, and locating the optimal site to experience. accommodate their criteria. As part of the leasing and sales process, Sara also assists many clients with retail investments and shepherding the transaction process even past completion when needed. Sara works with her colleagues in one of Idaho’s top performing retail teams. Sara is very active in a wide range of professional organizations, including ICSC, CREW, and CCIM, attending local and regional events either for networking or educational opportunities. Sara holds a bachelor’s degree in Marketing from Idaho State University. BOMA IDAHO 2021 SYMPOSIUM PROGRAM 21
MODERATOR
AMANDA SNOEY-HOLLADAY DEVIN PIERCE TREVER NICOLL COLLIERS INTERNATIONAL TOK COMMERCIAL BVA DEVELOPMENT [email protected] [email protected] [email protected]
As the Director of Property Management and Devin Pierce began his commercial real estate Trever Nicoll grew up in a small town in the Maintenance for Colliers Idaho, Amanda is respon- career in 2004, becoming a partner at TOK mountains of Arizona where he spent most of sible for the overall administrative, management Commercial in 2015. Devin’s primary focus his time playing sports and working in the family and compliance of properties throughout Idaho includes industrial landlord and tenant repre- business. After graduating high school, he served – totaling 5.4 million square feet! As a member sentation, industrial development consultation, a two-year mission in Madrid, Spain. Upon return- of the Colliers management team, she oversees and investment sales. Devin has been viewed as ing home from Madrid, Trever attended Brigham a team of 16 managers, technicians and sup- an industry front-runner, leading him to speak Young University in Provo, Utah. During his stud- port staff. Her responsibilities include strategic at various commercial real estate platforms to ies at BYU he caught the real estate bug and has planning, project management, monthly financial give his professional insight on trends, marketing worked towards being in development ever since. analysis and team training & mentorship, while statistics, and the state of the industrial market Trever joined the BVA team in December 2019 assessing needs of owners and tenants. Amanda within the Treasure Valley. with a role on the leasing and development team. brings with her over 20 years of experience in Devin has been a part of the elite Society of As much as Trever loves working, he loves noth- property management and customer service for a Office and Industrial Realtor (SIOR) membership ing more than to spend time with his amazing variety of property types. since 2015 and served as President of the Idaho wife and kids. Other hobbies include college In addition to holding her Idaho real estate license, Chapter from 2018-2020. The SIOR designation is football, working out, playing sports in general, Amanda’s experience includes working as com- earned by proving the highest level of knowl- and serving in his church and community. munity manager for the Mountain Home Air Force edge, production, and ethics in the commercial Trever earned a Master of Business Adminis- Base as well as the area property supervisor for real estate industry. tration degree from Indiana University, and a Somerset Pacific in Caldwell, Idaho. Devin resides in Boise with his wife, Annie, and Bachelor of Science degree in Facility & Property When she’s not working, Amanda enjoys riding two daughters, Ellie and Abigail, and enjoys all Management from Brigham Young University. motorcycles, cooking, and spending quality time the outdoor activities Idaho has to offer. with her husband Jerimiah and their family. 22 BOMA IDAHO 2021 SYMPOSIUM PROGRAM
Henry H. Chamberlain, APR, FASAE, CAE Shelby Christensen, LEED Green Associate KEYNOTE President and Chief Operating Officer, Chair and Chief Elected Officer, PRESENTATION BOMA International BOMA International Henry Chamberlain directs BOMA International’s staff Shelby Christensen, who became the 2020-2021 in Washington, D.C., in support of the association’s U.S. BOMA International Chair in June 2020, has more than local associations and 18 BOMA International affiliates 25 years of industry experience. Before the company around the world. Founded in 1907, BOMA International was acquired by Prologis in early 2020, Christensen is the leading trade association for commercial real was Senior Vice President of Operations for Liberty estate professionals, representing the owners, manag- Property Trust’s 106 million square feet of office and ers, service providers and other property professionals industrial real estate throughout the United States and for all commercial building types, including office, United Kingdom. She was responsible for portfolio industrial, medical, corporate and mixed-use. BOMA operations, risk management, sustainability, capital International is the partner individuals in the commercial expenses, tenant improvements, business processes, real estate industry choose to maximize value for their operational metrics, national marketing and general and careers, organizations and assets. Prior to joining BOMA administrative expenses. Christensen also serves as the International more than 30 years ago, Chamberlain was Chair of BOMA International’s National Advisory Council, Director of Communications for the Gannett Company and she previously served as Co-Chair of the Industrial during the launch phase of the Nation’s Newspaper, Committee and as a member of the Executive Com- USA TODAY. Chamberlain is a member of The Real mittee. She received BOMA International’s prestigious Estate Roundtable, the U.S. Chamber of Commerce Chair’s Award in 2015. Committee of 100, the American Society of Association SPONSORED BY: Executives and the National Capital Chapter of the Public Relations Society of America. 23
Geoff Wardle and Hethe Clark Have a Clear Vision for Real Estate in Idaho:
GEOFFREY M. WARDLE
Shelby Christensen, LEED Green Associate Chair and Chief Elected Officer, BOMA International
• Be efficient, responsive, and bold • Solve the difficult problems • Build a team for clients • Make a difference So far, so good. T. HETHE CLARK
Development Attorneys — Development, Real Property, Zoning Experienced attorneys serving clients in all aspects T. HETHE CLARK • GEOFFREY M. WARDLE • JOSHUA J. LEONARD • RYLEY SIEGNER of real estate development.
251 E. FRONT STREET, SUITE 310 • BOISE • IDAHO 208-388-1000 • CLARKWARDLE.COM 2414 BOMA IDAHO 2021 SYMPOSIUM PROGRAM DEMOLITION PERMITS AND COMMERCIAL DEVELOPMENT IN BOISE
On December 8, 2020, the Boise City Council adopted an ordinance requiring administrative Design Review approval from the Planning and Development Services Department prior to undertaking any visual alteration to a site, building, or structure located within a design review overlay district. By Joshua J. Leonard, Attorney, Design review overlay districts cover most, if not all commercial and office zoning districts in Boise. Clark Wardle LLP
Previously, Design Review approval only was required However, the ordinance adopted by Boise City for “any visible exterior improvement to a site, building, broadly requires Design Review approval for nearly or structure” located within a design review overlay all structures located in design review districts, district. Under the prior ordinance, demolition was not excepting only uninhabited accessory structures. an “improvement” and did not require Design Review The ordinance does not prohibit demolition and it approval. The new ordinance included demolition does not require demolition-created waste to be as a “visual alteration to a site, building, or structure,” recycled or re-used. The ordinance provides only requiring Design Review approval within design review for “an opportunity for discussions to take place overlay districts. around the potential for the relocation of buildings and the salvage of building materials.” The ordinance responded to concerns that demolition of structures outside of Boise City’s eleven existing The ordinance also does not include objective historic districts was too easy and was occurring more standards to be applied in the administrative review frequently. Historic preservationists have called the ordi- of demolition permit applications. Absent objective nance a “demolition review ordinance,” and Boise City’s standards, the administrative Design Review ap- staff report called it a “demolition delay ordinance.” proval required by the new ordinance amendment may have the potential for subjective application and Boise City staff identified three primary areas unjust results. The lack of objective ordinance stan- of concern related to demolition: dards also results in uncertainty among developers 1. demolition of existing affordable housing to and other applicants for demolition approval, who accommodate new development; have no way of knowing the level of scrutiny that will be given to a particular demolition application. 2. demolition-created waste, which the staff report Uncertainty, unfairness (whether real or perceived), stated goes “directly to the landfill”; and and a lack of objective standards almost guarantee 3. demolition of structures either on the National that Boise City’s new demolition delay ordinance will SUBMITTED BY: Register of Historic Places or eligible to be placed be challenged in court. on the National Register. The owners of commercial buildings in Boise should consult with their professional advisors before un- dertaking modifications to their buildings that could trigger the requirements of this ordinance. Go from business toGo greenbelt from business in just seconds. 25 to greenbeltGo fromseconds. business in just toFound greenbelt between the energy of downtown in and justserenity of the Greenbelt, Forest River has the best of both Found betweenseconds. the energy of downtown and serenity worlds. It’s just a short walk from BoDo or Ann of the Greenbelt, Forest River has the best of both Morrison Park, and offers panoramic views of the city, worlds. It’sseconds. just a short walk from BoDo or Ann river and mountains. Located at Ninth and River, with Morrison Park, and offers panoramic views of the city, Foundample between parking the and energy easy ofaccess downtown to the andfreeway. serenity river and mountains. Located at Ninth and River, with of theFound Greenbelt, between theForest energy River of downtown has the and best serenity of both ample parking and easy access to the freeway. worlds.of the It’s Greenbelt, just a Forestshort Riverwalk has from the BoDobest of bothor Ann Morrisonworlds. Park, It’sand just offers a short panoramic walk from BoDo views or Ann of the city, Morrison Park, and offers panoramic views of the city, river andriver mountains.and mountains. Located Located at at Ninth Ninth and and River, River, with with ampleample parking parking and and easy easy accessaccess to tothe the freeway. freeway.
View current listings at www.rmhcompany.com. For leasing information call Amy Wray at View current listings at www.rmhcompany.com.(208) 336-2200. COMPANY View current listings at For leasing informationwww.rmhcompany.com. call Amy Wray at (208) 336-2200. COMPANY For leasing information call Amy Wray at (208) 336-2200. COMPANY
View current listings at www.rmhcompany.com. For leasing information call Amy Wray at (208) 336-2200. COMPANY O ID A D O U IO ADAPTING TO UNPRECEDENTED CIRCUMSTANCES
Hear how ESI’s team con�nued safe construc�on opera�ons while naviga�ng the COVID-19 pandemic. As an essen�al industry, ESI made �mely job-site adap�ons, manpower realloca�ons, and overall implemented best prac�ces to safeguard the health of our teams and trade partners. BUY IDAHO, BUILD IDAHO
D DI A D D DABL DY A I
Marianne Nelson Andrea Hovey Jeret Whitescarver Rob Nelson EHS Director Director, Quality VP, Field Operations EHS Manager Assurance