Nation’s largest commercial developer buys some land from Micron. Here’s what it plans
The latest national developer to enter the Boise-area market is a development superstar, Trammell Crow.
The company has finalized its acquisition of 25 acres of land in Nampa that it purchased from Micron Technology for an industrial development.
Trammell Crow will build Kings Road Commerce Center, a site with 362,000 square feet of manufacturing and logistics space spread across three buildings, along with parking for 35 trailers and 557 cars. The property at 2800 E. Comstock Ave. is located just south of Interstate 84, between Kings Road, Comstock Avenue and 11th Avenue.
Dallas-based Trammell Crow has long been a giant in the development industry. It was founded in 1948 by Texas real estate developer Trammell Crow. It was just named 2021’s top commercial developer by Commercial Property Executive, an industry news website.
The company has more than 600 million square feet of commercial space under development, more than any other company in the industry, according to Commercial Property Executive. With operations in 25 cities, the company, now owned by CBRE, a Dallas real estate services company, has developed or acquired 2,800 buildings valued at nearly $70 billion.
Jim Mahoney, Trammell Crow principal, told the Idaho Statesman in a phone interview that the company was attracted by Boise’s “very strong local economy” and rapid growth, both in population and business. That growth has left a shortage of industrial space. Mahoney noted that Boise’s industrial vacancy space is unusually low, sitting at about 2%.
“As a company that has offices in nearly every major city in the U.S. and now in Europe, we look for markets that have an impressive growth trajectory,” Mahoney said.
Trammell Crow has not yet named any anticipated tenants. The company hopes to bring in a large distributor that will have a regional reach and specialize in items that “serve the needs” of local residents.
According to Mahoney, as more people have began buying practical items online rather than in stores, there is a greater need for industrial and warehouse space to make and hold those items.
“That’s going to be home improvement, manufacturing, lighting, electrical supply, paint, flooring, anything to do with home furniture,” Mahoney said.
The developer wants to actively “facilitate the relocation of businesses and jobs to the Treasure Valley,” according to Mahoney.
“Though the business continues to be local, what we bring is the capitalization and the reach that is national and international,” Mahoney said. “And that means attracting users, attracting candidates, attracting businesses, attracting debt and equity to our projects.”
He gave the example of the Alliance Bank of Arizona, which will be the lender for the Kings Road Commerce Center.
“They’re not even in (the Boise) market right now,” Mahoney said. “So we’re bringing a brand new lender to the Treasure Valley. It’s an example of what we what we’re capable of doing.”
The company is hoping to break ground in early 2022 and complete construction within a year.
Sally Krutzig is a breaking news and general assignment reporter at the Idaho Statesman. Have a story suggestion or a question? Email Krutzig at skrutzig@idahostatesman.com.
This story was originally published December 13, 2021 at 4:00 AM with the headline "Nation’s largest commercial developer buys some land from Micron. Here’s what it plans."
