ICBIDAHO COMMERCIAL BROKERAGE
LAND OFFERING
WEST HIGHLANDS RANCH SUBDIVISIONMiddleton, Idaho 83644• 192.4 ± acres • Approved for 561 buildable lots• 3 phases have construction drawing approval
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
Ryan CantlonOffice 208.343.9300Cell 208.867.3751Email [email protected]
MiddletonHigh School
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ALSO AVAILABLEEstates 2 atMeadowpark
121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com
ICBIDAHO COMMERCIAL BROKERAGEWEST HIGHLANDS RANCH SUBDIVISION
MIDDLETON, IDAHO
All information herein has been obtained from sources deemed reliable but is subject to verification by Buyer. This offering is subject to price change, corrections, errors, omissions, prior sales and/or withdrawl.
OFFERING DETAILS
WEST HIGHLANDS RANCH SUBDIVISIONMIDDLETON, IDAHO 83644
2
Asking Price $7,696,040
Current Jurisdiction Annexed into City of Middleton
Current Zoning R-3
Gross Acres 192.401 (per County records)
Parcel Numbers R3820701000 (38.048 acres) R3821000000 (152.599 acres) R3821001000 (1.754 acres)
• Approved preliminary plat for 561 buildable lots• Construction drawings approved for three phases:
Phase 9: 51 Lots Phase 10: 49 Lots Phase 11: 49 Lots
• Development agreement in place• Proven project with multiple phases sold out • Utilities at or near site• Close proximity to Middleton High School• Highest absorbing area of Middleton• Contact listing agent for additional information
SOLD OUT
SITE SOLD OUT
Hartl
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Willis Road
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ALSO AVAILABLEEstates 2 atMeadowpark
121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com
ICBIDAHO COMMERCIAL BROKERAGEWEST HIGHLANDS RANCH SUBDIVISION
MIDDLETON, IDAHO
All information herein has been obtained from sources deemed reliable but is subject to verification by Buyer. This offering is subject to price change, corrections, errors, omissions, prior sales and/or withdrawl. 3
PROJECT SUMMARY
Phase 9
Acres 25.15
Buildable Lots 51
Typical Lot Size 80’ x 130’
Phase 10
Acres 15.93
Buildable Lots 49
Typical Lot Size 55’ x 105’
Phase 11
Acres 14.66
Buildable Lots 49
Typical Lot Size 75’ x 105’
Phase A*
Acres 18.5
Buildable Lots 48
Typical Lot Size 75’ x 105’
Phase B*
Acres TBD
Buildable Lots 44
Typical Lot Size 80’ x 30’
Phase C*
Acres TBD
Buildable Lots 43
Typical Lot Size 80’ x 130’
9
C
A
B11
10
E
D
H
F
I
G
SOLD OUT
Phase D*
Acres TBD
Buildable Lots 43
Typical Lot Size 80’ x 130’
Phase E*
Acres 15.93
Buildable Lots 53
Typical Lot Size 80’ x 130’
Phase F*
Acres TBD
Buildable Lots 55
Typical Lot Size 55’ x 105’
Phase G*
Acres TBD
Buildable Lots 49
Typical Lot Size 60’ x 105’
Phase H*
Acres TBD
Buildable Lots 37
Typical Lot Size 75’ x 105’
Phase I*
Acres TBD
Buildable Lots 40
Typical Lot Size 75’ x 105’
West Highlands Ranch Subdivision
Acres (Per County Records) 192.401Number of Buildable Lots 561
Phases 9, 10 and 11 have construction drawing approval.
* Lettered phases are for reference purpose only and will be re-assigned as necessary.
121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com
ICBIDAHO COMMERCIAL BROKERAGEWEST HIGHLANDS RANCH SUBDIVISION
MIDDLETON, IDAHO
All information herein has been obtained from sources deemed reliable but is subject to verification by Buyer. This offering is subject to price change, corrections, errors, omissions, prior sales and/or withdrawl. 4
MIDDLETON OVERVIEW
MIDDLETON, IDAHOIn 1863, Middleton, the oldest settlement in Canyon County, was divided into parcels. The town incorporated as a city in 1910. Named for its midpoint location between old Fort Boise and Keeney’s Ferry, Middleton provided basic services to travelers along the Oregon Trail.
The population of Middleton grew 35.2% between 2010 and 2017. Middleton’s July 2017 estimated population is nearly 7,500 making up roughly 30 percent of Canyon County’s overall population.
West Highlands Ranch continues to be the top performing subdivision in Middleton, with all south phases currently sold out.
Population 7,439 216,699Median Age 33 33Median Household Income $46,619 $44,800Median Home Listing Price $256,000 $229,000High School Graduate or Higher 89.8% 84.1%
STATISTICS
Source: US Census Bureau
MIDDLETON CANYON COUNTY
TOP 3 HIGHEST PERFORMING SUBDIVISIONS IN MIDDLETON BY YEAR
2014 2015 2016 2017 2018 (1/1/2018 - 5/31/2018)
Annual Sales
Avg Sales Price
Annual Sales
Avg Sales Price
Annual Sales
Avg Sales Price
Annual Sales
Avg Sales Price
Annual Sales
Avg Sales Price
West Highlands Ranch 61 $203,266 52 $229,339 38 $227,631 38 $251,625 38 $287,373
Falcon Valley 13 $169,942 8 $178,551 10 $204,571 10 $215,646 n/a n/a
Middleton Lakes 11 $137,636 n/a n/a n/a n/a n/a n/a n/a n/a
The Pines n/a n/a 13 $236,721 14 $228,288 n/a n/a n/a n/a
Crossing at Meadowpark n/a n/a n/a n/a n/a n/a 23 $258,725 7 $255,232
121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com
ICBIDAHO COMMERCIAL BROKERAGEWEST HIGHLANDS RANCH SUBDIVISION
MIDDLETON, IDAHO
All information herein has been obtained from sources deemed reliable but is subject to verification by Buyer. This offering is subject to price change, corrections, errors, omissions, prior sales and/or withdrawl.
PRELIMINARY PLAT
TI
FIRE DISTRICT
IRRIGATION DISTRICTS
ROADWAY JURISDICTION
SEWER AND WATER PROVIDER
SANITARY SEWER:
WATER MAIN:
IRRIGATION:
STORM DRAINAGE:
25 BLOCK 4
PR
ELI
MIN
AR
Y P
LAT
TIT
LE S
HE
ET
5
SOLD OUT
121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com
ICBIDAHO COMMERCIAL BROKERAGEWEST HIGHLANDS RANCH SUBDIVISION
MIDDLETON, IDAHO
All information herein has been obtained from sources deemed reliable but is subject to verification by Buyer. This offering is subject to price change, corrections, errors, omissions, prior sales and/or withdrawl.
PARCEL MAP
6
121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com
ICBIDAHO COMMERCIAL BROKERAGEWEST HIGHLANDS RANCH SUBDIVISION
MIDDLETON, IDAHO
All information herein has been obtained from sources deemed reliable but is subject to verification by Buyer. This offering is subject to price change, corrections, errors, omissions, prior sales and/or withdrawl. 7
AERIAL
Hartl
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Duff
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Willis Road
W Main Street
Purple Sage Road
MiddletonHigh School Middleton Heights
Elementary School
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SOLD OUT
SOLD OUT
Mid
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SITE ALSO AVAILABLE
Estates 2 atMeadowpark
121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com
ICBIDAHO COMMERCIAL BROKERAGEWEST HIGHLANDS RANCH SUBDIVISION
MIDDLETON, IDAHO
All information herein has been obtained from sources deemed reliable but is subject to verification by Buyer. This offering is subject to price change, corrections, errors, omissions, prior sales and/or withdrawl. 8
VALLEY AERIAL
BOISEMERIDIAN
EAGLE
NAMPA
CALDWELL
KUNA
STARMIDDLETON
SITE
ICBIDAHO COMMERCIAL BROKERAGE
121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com
WEST HIGHLANDS RANCH SUBDIVISIONMIDDLETON, IDAHO
All information herein has been obtained from sources deemed reliable but is subject to verification by Buyer. This offering is subject to price change, corrections, errors, omissions, prior sales and/or withdrawl. 9
MARKET OVERVIEW
The Boise MSA is the third largest metro in the Northwest with 30% growth projected by 2020. The Boise metro area consists of the Southwestern Idaho counties of Ada, Boise, Canyon, Gem and Owyhee. Nearly 40 percent of Idaho’s total population lives in the area, which includes 251,142 households. The region is hemmed in by mountains to the North and high-desert to the South. The largest city is Boise, which encompasses nearly 80 square miles, is the capital city and boasts a population of nearly 230,000.
50 motor freight companies serve the Boise Valley, traveling 5 interstates, 20 U.S. highways and 30 state highways. Over 11 million tons of freight are transported annually across the U.S., to Canada and Mexico by Union Pacific and Burlington Northern Santa Fe along 1,600 miles of rail line. Various airlines connect the metro area nationally, with the Boise Airport handling over three million travelers each year.
BOISE METROPOLITAN AREA
#4 Top 10 Cities forYoung Families (Boise)
Move Buddha, January 2018
Top 20 Best Cities for Young Professionals
Forbes, May 2017
#1 Fastest Growing Metro in U.S.
Forbes, 2018
#5 Best Cities forQuality of Life (Boise)NerdWallet, October 2017
#1 City for New Home Sales (Meridian)
Curbed, January 2017
Top 10 SafestCities in the World
The Daily Meal, Oct 2017
#4 Best Place to Retire (Boise)
Forbes, January 2014
Lowest Business Costs in Pacific U.S.
KPMG 2012, 2015, 2016
#4 North America’s Coolest Downtowns
Expedia 2018
#2 America’s Best Cities to Live in (Meridian)
24/7 Wall Street, Dec 2016
#2 Destinations You Need to See in 2018
Lonely Planet, March 2018
#3 Best State Capitals to Live In (Boise)
WalletHub, February 2018
Population 710,000Unemployment Rate 2.9%Median Age 34.2White Collar Workers 36%Blue Collar Workers 63%Median Annual $42,180Bachelors or Higher 35.24%Sales & Use Tax 6%Corporate Income Tax 6.9%
BOISE VALLEY STATISTICS
Source: bvep.org
Source: 7/1/17 US Census
COUNTY POPULATION SQ MILES
Ada 456,849 1,052.58Boise 7,290 1,899.24
Canyon 216,699 587.37Gem 17,379 560.90
Owyhee 11,628 7,665.51Total 709,845 11,756.60
ICBIDAHO COMMERCIAL BROKERAGE
121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com
WEST HIGHLANDS RANCH SUBDIVISIONMIDDLETON, IDAHO
All information herein has been obtained from sources deemed reliable but is subject to verification by Buyer. This offering is subject to price change, corrections, errors, omissions, prior sales and/or withdrawl. 10
MARKET OVERVIEW
BOISE METROPOLITAN AREAThe Boise Metro, at 92.5% of the national cost of living, enjoys some of the lowest costs in the western United States. Shorter commute times, safer communities, access to outdoor recreation and a high in-migration rate of workers has created a dynamic workforce with an entrepreneurial vibe.
Major economic drivers in the region include semiconductor and other computer product manufacturing, food product manufacturing, administrative and business support services, and construction.
College/ University
Enrollment (Boise Valley)
Program
Boise State University 23,886 4-year
University of Idaho 1,000 4-year
Northwest Nazarene University
2,207 4-year
College of Idaho 1,065 4-year
Idaho State University 500 4-year
Concordia University School of Law
75 Private
College of Western Idaho 24,265 2-year
Carrington College 600 2-4 year
Stevens Henager College 400 2-4 year
Treasure Valley Community College
1,785 2-year
Brown Mackie College 400 2-year
Broadview University 100 2-4 year
• Micron Technology• St. Lukes Health Systems• St. Alphonsus Health System• Hewlett-Packard Company• J.R. Simplot Company• IDACorp (Idaho Power)• WinCo Foods, LLC• Albertson’s/SuperValu• URS Corp- Washington Group• Wells Fargo, N.A.• U.S. Bank• Boise Inc.• Bodybuilding.com• MWI Veterinary Supply, Inc.• Key Bank• Scentsy, Inc.• Lactalis American Group
• CSHQA• HDR, Inc.• CH2M Hill• Power Engineers• Hawley Troxell• Eide Bailly, LLP• Givens Pursely, LLP• Perkins Coie, LLP• Stoel Rives, LLP• URS Corporation• Balihoo• Healthwise• Clearwater Analytics• Keynetics Inc.• INL - Battelle Energy Alliance• Enphase Energy
• Wells Fargo, N.A.• DIRECTV• Alaska Airlines• WDS Global• Century Link• Albertson’s/SuperValu• T-Mobile U.S.A., Inc.• EDS, an HP Company• Citi Card• Intermountain Gas Company• ProService Boise• HP Shopping.com
LARGE EMPLOYERSTECHNICAL/ENGINEERING/
ARCHITECTURE/LEGALCUSTOMER SUPPORT CENTERS
Source: bvep.org
ICBIDAHO COMMERCIAL BROKERAGE
121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com
WEST HIGHLANDS RANCH SUBDIVISIONMIDDLETON, IDAHO
All information herein has been obtained from sources deemed reliable but is subject to verification by Buyer. This offering is subject to price change, corrections, errors, omissions, prior sales and/or withdrawl. 11
MARKET OVERVIEW
ADA AND CANYON COUNTY
YEAR ADA COUNTY CANYON COUNTY TOTAL
2014 2,270 864 3,1342015 2,980 1,028 4,0082016 3,596 1,282 4,8782017 3,859 1,449 5,3082018* 1,667 736 2,403
BUILDING PERMITS ISSUED
Source: Construction Monitor, Single Family Homes Only* Through 5/31/2018
MIGRATION TO SW IDAHO
2,0000
4,0006,0008,000
10,00012,000
2014 2015 2016 2017New Construction Sales Existing Construction Sales
ADA & CANYON COUNTY HOME SALES
Ada and Canyon county continue to lead the Idaho housing market in both inventory sold and average price for new construction. As the top two most populous counties in Idaho, both are poised for repeated growth trends.
2014 2015 2016 2017
ADA COUNTY
NEW CONSTRUCTION SALES 1,469 1,687 2,332 2,558
NEW CONSTRUCTION AVERAGE PRICE $246,141 $264,472 $279,581 $305,263
CANYON COUNTY
NEW CONSTRUCTION SALES 484 508 642 869
NEW CONSTRUCTION AVERAGE PRICE $200,769 $218,106 $230,374 $248,405
MIDDLETON
NEW CONSTRUCTION SALES 109 87 89 152
NEW CONSTRUCTION AVERAGE PRICE $218,954 $244,150 $272,873 $285,388
NEW CONSTRUCTION SALES AND AVERAGE PRICES
Migration accounted for 40.74% of growth in Idaho between 2010 and 2016. Ada County experienced 10.7% growth, while Canyon County grew by 9.8%.
59.26% within Idaho
40.74% outside of Idaho
121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com
ICBIDAHO COMMERCIAL BROKERAGEWEST HIGHLANDS RANCH SUBDIVISION
MIDDLETON, IDAHO
All information herein has been obtained from sources deemed reliable but is subject to verification by Buyer. This offering is subject to price change, corrections, errors, omissions, prior sales and/or withdrawl. 12
BROKER BIOGRAPHY/ICBRE OVERVIEW
RYAN CANTLONLand [email protected](208) 867-3751
REAL ESTATE PRACTICESRyan Cantlon focuses on land acquisition and disposition. WORK HISTORYRyan has been involved in hundreds of land related transactions totaling thousands of development acres, resulting in the development of over 6,000 lots across more than 70 projects in the Boise MSA. Transactional experience includes master planned communities, bulk subdivision lots, commercial land, golf courses, and agricultural land. Clients Ryan has worked with range from various financial institutions, developers, local and national homebuilders, institutional funds, and local land owners.
PERSONALA native of Boise, Ryan received his BBA in Operations Management from Boise State University. In his free time he can be found enjoying the outdoors of Idaho.
SAMPLE TRANSACTIONS
SELLER REPRESENTATION BUYER REPRESENTATION660 acres - Ada County, ID 440 acres - Star, ID409 acres - Eagle, ID 365 acres - Eagle, ID393 acres - Nampa, ID 227 acres -Nampa, ID263 acres - Caldwell, ID 204 acres - Caldwell, ID211 lot subdivision - Eagle, ID 170 acres - Meridian, ID184 acres - Boise, ID 166 acres - Meridian, ID137 acres - Kuna, ID 114 acres - Meridian, ID127 acres - Star, ID 110 lot subdivision - Eagle, ID111 lot subdivision - Caldwell, ID 101 lot subdivision - Caldwell, ID100 acres - Middleton 100 acres - Kuna, ID99 lot subdivision - Caldwell, ID 85 lot subdivision - Meridian, ID95 acres - Eagle, ID 72 lot subdivision - Meridian, ID94 lot subdivision - Caldwell, ID 70 lot subdivision - Caldwell, ID92 acres - Star, ID 68 lot subdivision - Meridian, ID85 acres - Nampa, ID 64 lot subdivision - Star, ID65 acres - Eagle ID 62 acres - Eagle, ID 41 acres - Meridian, ID 52 lot subdivision - Middleton, ID
Idaho Commercial Brokerage was established in 2002 and operates on the premise of building dependable client-broker relationships unmatched by the larger corporate approach to brokerage representation.
The company consists of agents David McDonald, Moe Therrien, and Ryan Cantlon. Idaho Commercial Brokerage specializes in land and investment sales.
IDAHO COMMERCIAL BROKERAGE