Single-Tenant Office

Continuum Global Solutions (Single Tenant NNN) | Boise, ID | Recent Lease Extension

456 N Kimball Pl, Boise, ID 83704

Listing Price: $13,560,167

Cap Rate
9.17%
Tenant Name
Continuum Global Solutions
Years Remaining On Lease
4.4
Gross SF
72,687
Guarantor
Corporate Guarantee
Rentable SF
72,687
Price/Gross SF
$186.56
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$17.11

Investment Overview

275 and 456 N. Kimball Place consists of two buildings totaling 72,687 RSF on over 8.45 acres. The buildings are leased to a single tenant who operates the location as a call center. This is an 850 seat contact center that serves one client. Continuum could accommodate multiple clients from this location but the current client requires exclusivity. The tenant has made multiple lease extensions with the most recent being a new 5 year renewal starting in July 2020. Owner spent $160,000 in 2020 for new roofing and HVAC. An additional $576,000 invested for interior updates in 2020 by the Tenant. Built in 1998 the properties underwent renovations in 2015 including new interior paint and carpet and replacement of a portion of the roof and complete HVAC system in the larger building (65,212 SF). The parking lot accommodates an 8/1,000 SF ratio at 575 spaces. The exterior was completely repainted in 2019 and two large awnings were added for employee amenities.

Investment Highlights

  • Single Tenant NNN Lease Featuring Favorable 2% Annual Increases throughout the Initial Term and FMV at the Option. Multiple Lease Extensions Demonstrating a Strong Commitment to the Location.
  • 2 Buildings on Large Lot w/ Abundant Parking. Low Building to Land Ratio.
  • Continuum Global Solutions Customer Care Services & Call Centers have been Embraced by Top Companies Worldwide. Their Fortune-500 Clients Rely on Continuum's Vast Expertise in Customer Care Management
  • Skyview Capital LLC (Continuum's Parent Company) is a Privately held Investment Firm Headquartered in Los Angeles, Operating their Worldwide Portfolio of Assets.
  • Walking Distance from Boise Towne Square - Idaho's Largest Shopping Center featuring more than 150 Retailers and Restaurants.
  • Densely Populated Area: Features more than 100k People Residing within a 5-Mile Radius. Positioned Along Area's Major Office, Retail & Traffic Corridor: Features Easy Access and Excellent Visibility. Near Interstate-184.
  • Near Boise Airport - A Joint Civil-Military Airport and Busiest Airport in the State of Idaho, with more than 4.1M+ Passengers/Travelers Flying in and out Annually.
  • Boise is widely known to Attract Call Centers - Boise's Low Cost of Living and Burgeoning Reputation as a Tech Hub Serve to Enhance the Office Sector's Appeal.

Broker of Record

  • Paul Ryan

    Senior Associate

    License(s): ID: DB39666

    Idaho

Single-Tenant Office

Continuum Global Solutions (Single Tenant NNN) | Boise, ID | Recent Lease Extension

Listing Price: $13,560,167

Cap Rate
9.17%
Tenant Name
Continuum Global Solutions
Years Remaining On Lease
4.4
Gross SF
72,687
Guarantor
Corporate Guarantee
Rentable SF
72,687
Price/Gross SF
$186.56
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$17.11

Investment Highlights

  • Single Tenant NNN Lease Featuring Favorable 2% Annual Increases throughout the Initial Term and FMV at the Option. Multiple Lease Extensions Demonstrating a Strong Commitment to the Location.
  • 2 Buildings on Large Lot w/ Abundant Parking. Low Building to Land Ratio.
  • Continuum Global Solutions Customer Care Services & Call Centers have been Embraced by Top Companies Worldwide. Their Fortune-500 Clients Rely on Continuum's Vast Expertise in Customer Care Management
  • Skyview Capital LLC (Continuum's Parent Company) is a Privately held Investment Firm Headquartered in Los Angeles, Operating their Worldwide Portfolio of Assets.
  • Walking Distance from Boise Towne Square - Idaho's Largest Shopping Center featuring more than 150 Retailers and Restaurants.
  • Densely Populated Area: Features more than 100k People Residing within a 5-Mile Radius. Positioned Along Area's Major Office, Retail & Traffic Corridor: Features Easy Access and Excellent Visibility. Near Interstate-184.
  • Near Boise Airport - A Joint Civil-Military Airport and Busiest Airport in the State of Idaho, with more than 4.1M+ Passengers/Travelers Flying in and out Annually.
  • Boise is widely known to Attract Call Centers - Boise's Low Cost of Living and Burgeoning Reputation as a Tech Hub Serve to Enhance the Office Sector's Appeal.

Investment Overview

275 and 456 N. Kimball Place consists of two buildings totaling 72,687 RSF on over 8.45 acres. The buildings are leased to a single tenant who operates the location as a call center. This is an 850 seat contact center that serves one client. Continuum could accommodate multiple clients from this location but the current client requires exclusivity. The tenant has made multiple lease extensions with the most recent being a new 5 year renewal starting in July 2020. Owner spent $160,000 in 2020 for new roofing and HVAC. An additional $576,000 invested for interior updates in 2020 by the Tenant. Built in 1998 the properties underwent renovations in 2015 including new interior paint and carpet and replacement of a portion of the roof and complete HVAC system in the larger building (65,212 SF). The parking lot accommodates an 8/1,000 SF ratio at 575 spaces. The exterior was completely repainted in 2019 and two large awnings were added for employee amenities.

Broker of Record

  • Paul Ryan

    Senior Associate

    License(s): ID: DB39666

    Idaho

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