Idaho Land Board to auction 10 properties

The State Board of Land Commissioners has authorized the Idaho Department of Lands to offer ten commercial properties for auction in 2017. The properties are a combination of commercial buildings, parking lots, and vacant commercial building lots. The properties include two in Idaho Falls: 4 acres of leased property at 961-965 E. Lincoln Road and a fully leased office and R & D building at 595 University. The others are in Boise and Meridian. The auction is set for December at the Courtyard Marriott in Meridian. The board retained its authority to remove any of the 10 properties from the auction based on additional analysis or market information. The Land Board voted to sell several commercial properties at the end of 2014 to take advantage of the strong local commercial real estate market. In 2016, the department auctioned 7 commercial properties for $17,265,000, which was $4,475,000 above appraised value.