Salt Lake firm purchases one of Idaho's tallest buildings
Salt Lake City's Gardner Co., developer of The Gateway and The One Utah Center, recently secured a $37 million loan from U.S. Bank to purchase one of Idaho's tallest buildings, the 256,000-square foot U.S. Bank Plaza in Boise.
The building, previously owned and operated by Unico Properties, is home to U.S. Bank, Moffatt Thomas, Stoel Rives, and Deloitte and Holland & Hart. In addition to being office space for many of U.S. Bank's 400 employees in the Boise area, the bank operates a branch on the ground level of the building.
"We're excited to invest in downtown Boise with the purchase of U.S. Bank Plaza," said Kem Gardner, chairman for Gardner Co., that also owns other property in Boise and Meridian, Idaho. "This well-known building boasts a central location, reputable tenants and is positioned for long-term success."
When the 19-story, 267-foot high building first opened in 1978, it was then Idaho's tallest building. It was renovated in 2004. It is now Idaho's second-tallest building.
The building includes underground parking, furnished conference rooms seating up to 100 people and easy access to Boise's downtown bus line.
"We're pleased to fund Gardner's acquisition of U.S. Bank Plaza," said John Seastrand, senior vice president for U.S. Bank Commercial Real Estate in Salt Lake City. "Gardner's expertise and knowledge of the Boise commercial real estate market will enhance the building's reputation as downtown Boise's premier office space."