Key Takeaways
- • Bow River Capital completed the sale of Fuller84 Business Park in Nampa, Idaho on June 30, 2026, marking a successful exit from its Real Estate Fund II with a 439,600-square-foot, three-building Class A industrial portfolio at 94.2% occupancy.
- • The property was strategically positioned to capitalize on Micron's $50 billion semiconductor expansion in the Boise metropolitan area, which is driving sustained job growth and industrial demand in one of the Mountain West's strongest industrial markets.
- • Fuller84 featured institutional-grade logistics specifications including 32-foot clear heights, ESFR fire suppression systems, oversized truck courts, and 2,500-amp electrical service, targeting supply-constrained, high-growth markets aligned with Bow River's investment thesis.
- • Financial terms and buyer identity were not disclosed; however, the disposition reflects Bow River Capital's disciplined approach to identifying and exiting high-conviction industrial opportunities in supply-constrained markets with strong long-term economic fundamentals.
Summary
Bow River Capital has successfully completed the disposition of Fuller84 Business Park, a three-building Class A industrial portfolio located in Nampa, Idaho, closing the transaction on June 30, 2026. The sale represents a key milestone for the firm's Real Estate Fund II and underscores its strategic focus on high-quality industrial assets in supply-constrained, growth-oriented markets across the Mountain West.
The Fuller84 portfolio comprises 439,600 square feet of rear-load warehouse space and maintained strong operational metrics at the time of sale, with 94.2% occupancy to institutional-quality tenants. The property's location—approximately one-half mile from Interstate 84 and one mile from the State Highway 16 extension—provides critical connectivity to regional transportation networks and positions it within the Boise metropolitan area's emerging industrial corridor. The asset features modern logistics infrastructure designed to meet current institutional tenant requirements, including 32-foot clear heights, ESFR fire suppression systems, oversized truck courts, and 2,500-amp electrical service.
According to Drew Lacey, director of Bow River Capital's real estate platform, the investment thesis centered on the transformative impact of Micron's $50 billion semiconductor expansion in the region. Lacey stated that this expansion is "driving a multi-decade flywheel of job growth, supplier co-location, and industrial demand," positioning the Boise and Nampa markets as strategic deployment zones for institutional capital. Fuller84 Business Park captured this secular trend in an institutionally leased, best-in-class asset, delivering on Bow River's disciplined acquisition and exit strategy. The transaction demonstrates the firm's continued confidence in supply-constrained industrial markets with durable economic fundamentals and its ability to execute value-creation strategies across real estate cycles.
Financial terms of the sale and the identity of the buyer were not disclosed in the transaction announcement.
The Fuller84 portfolio comprises 439,600 square feet of rear-load warehouse space and maintained strong operational metrics at the time of sale, with 94.2% occupancy to institutional-quality tenants. The property's location—approximately one-half mile from Interstate 84 and one mile from the State Highway 16 extension—provides critical connectivity to regional transportation networks and positions it within the Boise metropolitan area's emerging industrial corridor. The asset features modern logistics infrastructure designed to meet current institutional tenant requirements, including 32-foot clear heights, ESFR fire suppression systems, oversized truck courts, and 2,500-amp electrical service.
According to Drew Lacey, director of Bow River Capital's real estate platform, the investment thesis centered on the transformative impact of Micron's $50 billion semiconductor expansion in the region. Lacey stated that this expansion is "driving a multi-decade flywheel of job growth, supplier co-location, and industrial demand," positioning the Boise and Nampa markets as strategic deployment zones for institutional capital. Fuller84 Business Park captured this secular trend in an institutionally leased, best-in-class asset, delivering on Bow River's disciplined acquisition and exit strategy. The transaction demonstrates the firm's continued confidence in supply-constrained industrial markets with durable economic fundamentals and its ability to execute value-creation strategies across real estate cycles.
Financial terms of the sale and the identity of the buyer were not disclosed in the transaction announcement.
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