Retail Strip Center Investment | Boise, Idaho
Owner Representation: John Stevens, CCIM • JP Green, CCIM • Moses Mukengezi
Property Management: Rebekah Ward, CPM, LEED GA
Overview
✔️ 100% leased retail strip center
✔️ Complex use and parking restrictions
✔️ Two deals fell apart
✔️ Right buyer ultimately secured
This is how a fully leased Boise retail asset turned into a successful, strategic sale—despite real-world complications.
The Opportunity
602 Orchard Street was a stabilized, fully leased retail asset.
Following a successful lease-up, ownership evaluated a disposition strategy focused on maximizing value while thoughtfully accounting for the property’s operational framework. Existing co-tenancy provisions and parking parameters required a measured, targeted approach to buyer outreach.
The objective was not simply to complete a sale, but to align the asset with a buyer whose investment criteria matched its long-term profile.
The Strategy
From day one, the TOK Commercial team took a hands-on, highly targeted approach.
John Stevens, JP Green, and Moses Mukengezi worked directly with property management to fully understand how the asset functioned day-to-day. Because the team had been involved in the lease-up, they brought deep tenant knowledge into the disposition strategy—allowing them to position the asset accurately and credibly.
The focus was narrow and intentional:
- Identify investors aligned with the asset’s restrictions
- Craft clear, honest positioning
- Conducted intentional, direct buyer outreach
This saved time, protected momentum, and built confidence with serious prospects.
Navigating the Transaction
As with many well-located, income-producing assets, the path to closing required careful navigation.
During the marketing process, the property went under contract more than once as buyers worked through environmental reviews and financing requirements typical of retail investments with layered use considerations. Each step provided additional clarity, refined the buyer pool, and strengthened final positioning.
The TOK Commercial team maintained momentum, adjusted outreach as needed, and remained focused on aligning the asset with a buyer whose investment strategy matched its long-term profile.
The Result
TOK Commercial successfully identified a qualified buyer and facilitated a transaction that aligned with ownership’s objectives. The result was a completed sale that balanced operational realities with investment value—benefiting all parties involved.
“I haven’t worked with a commercial outfit who works so seamlessly between the management side and the sales side of things before. At every turn, I felt like we had the best management and representation handling this property.”
— Justin Bruni, President | Wedgewood Homes
Key Takeaways
- Strategic collaboration between brokerage and property management drives stronger outcomes
- Targeted buyer outreach is critical for assets with operational and use restrictions
- Persistence and adaptability are essential in navigating complex transactions
602 Orchard Street is a strong example of how thoughtful positioning, market expertise, and hands-on execution can unlock value and deliver results in today’s retail investment market.