October 29, 2020
PCCP, LLC provided a $19.4-million senior loan to Sacramento-based LDK Ventures for the acquisition, renovation and lease-up of Boise Logistics Center, a vacant 350,000-square-foot industrial building in Boise. The facility at 1001 E. Gowen Rd. sits within Boise’s Airport submarket and was built in two phases.
The majority of the warehouse and truck terminal were built in 1992 and an expansion of the warehouse was completed in 2000. The property consists of a front and side-loaded 310,000-square-foot warehouse component and a connected 56-door, truck terminal facility, as well as an adjacent 16.2-acre land parcel for future industrial development. LDK plans to immediately embark on a renovation plan.
PCCP’s Dorian Farhang says, “This marks PCCP’s fourth transaction with LDK Ventures, an experienced industrial developer and operator. This loan provides acquisition financing as well as funds to invest in the necessary renovations on the building in order to attract new tenants.”
For comments, questions or concerns, please contact Dennis Kaiser