Idaho sells 5 commercial properties, but 5 receive no bids

BOISE - Five properties Idaho officials offered at an auction sold for above appraised value, but five others didn't receive any bids.

The auction Wednesday by the Idaho Department of Lands brought in nearly $8.5 million, about $1.6 million above the appraised value.

An office building in Idaho Falls brought in the most at $5.3 million, $125,000 above its appraised value.

An office building in Boise sold for $1.6 million, nearly double its appraised value. Three parking lots in Boise also went for above the appraised value.

The five properties with no bids at or above the appraised value include a commercial building in Idaho Falls and four commercial lots in Meridian.

The Idaho Land Board has been selling commercial real estate following complaints that state-owned businesses unfairly compete with private businesses.

© 2017 Associated Press


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