BOISE, Idaho — A business that was instrumental in Idaho a century ago announced Thursday that it is purchasing buildings in downtown Boise.
Laird Norton Properties is acquiring the 19-floor U.S. Bank Building at Capitol and Main, as well as most of the Clearwater Building next door.
Boise State University’s Computer Science Department will retain their condo interest in the Clearwater Building, while Valley Regional Transit and the Greater Boise Auditorium District will continue to own their units.
“Beyond the quality of the U.S. Bank and Clearwater buildings, we’re making these acquisitions because of the excellence of downtown Boise,” said Matt Anderson, Principal and Senior Project Director with Heartland, the company's real estate affiliate. “There’s high employment, household growth and affordability, but also a lot of civic pride and next-generation energy that we believe are going to continue to help Boise grow.”
Laird Norton's history in Idaho dates back to 1903, when the company helped found the Potlatch Lumber Company. The company later merged two other groups to create what would become the Boise Cascade Corporation.
Company officials suggested Laird Norton is eyeing additional investments in Boise.
“Boise is vibrant and dynamic, which makes it a great fit for us,” said Jim Reinhardsen, President of Laird Norton Properties. “The possibilities are endless. For example, Heartland, our real estate services division, will be able to provide a full range of advisory services to real estate companies, investors, corporations and non-profits. Further, LNP will look for other ways to invest in the City of Trees, including the possibility of student housing and business investment opportunities."