Introducing Thomson Farms, a 55-acre mixed-use development that seamlessly integrates low, medium, and high-density housing with a conveniently located grocery-anchored shopping center. Approved as a Planned Unit Development (PUD) in 2017, the first two phases of the apartment complex were successfully completed in 2020, offering 190 fully stabilized, cash-flowing units. Future phases will unfold on an additional 47.13 acres, featuring single-family residential lots, townhomes, and retail spaces, completing this ambitious and well-planned community.
Prime Location, Exceptional Value
Strategically positioned along State Highway 33, Thomson Farms boasts a prime location between BYU-Idaho and Walmart. This central positioning not only provides immediate access to municipal utilities but also places the development at the heart of Rexburg's rapidly growing community. With 190 existing cash-flowing units and future value-add potential through complementary development, Thomson Farms stands as a lucrative investment opportunity, offering immediate scale and long-term growth prospects.
The Grove at Thomson Farms: Luxury Living in Rexburg
The Grove at Thomson Farms, comprising 190 market-rate apartment units built in two phases, promises luxury living in the heart of Rexburg. Featuring studio, 1, 2, and 3-bedroom floorplans, The Grove targets young professionals seeking upscale amenities. While the proposed Phase 3 includes a clubhouse, pool, and open space, these additions have yet to be realized, presenting an exciting opportunity for investors to enhance the development further. Notably, The Grove does not cater to affiliated student housing through BYU-Idaho, ensuring a distinct market positioning.
Unbeatable Connectivity and Investment Potential
Situated just off Yellowstone Avenue (US Highway 33), The Grove at Thomson Farms enjoys unparalleled connectivity. This main Eastern Idaho highway seamlessly links Rexburg to Idaho Falls in the south and Island Park to the north. As part of a rapidly growing area, The Grove stands as a testament to Rexburg's multifamily market resilience, maintaining a remarkable 96% occupancy despite a substantial increase in recent supply. This mixed-use gem is available as a combined listing with an attractive overall asking price of $36,000,000, making it a compelling investment opportunity in the heart of Rexburg.
Contact our multifamily investment specialists, Andrew Boespflug or Mike Greene, or our eastern Idaho specialists, Brent Wilson or Brian Wilson for more information on this unique opportunity.
Thomson Farms Multifamily/Mixed-Use Investment Opportunity