The Capitol Terrace retail building is close to having a new owner - Boise-based Hawkins Co.
Hawkins Co. principal Gary Hawkins says he hopes to close on the sale in March or April.
“In the near term, we hope to do something with the first two floors," Hawkins said. "We want to do some upgrades and fix it up."
In the future, he says they may look to develop on top of the building to expand.
"We’d like to add some additional footage and go vertical, but we don’t know when that would be."
The retail building is wrapped around a parking facility currently owned by the Capital City Development Corporation. Retailers include Taphouse, Piper Pub, Rediscovered Books and the Ward Hooper gallery.
The garage and retail building were constructed in the 1980s, and the retail portion currently owned by the Roper family. Hawkins noted that his company helped with leasing in the building when it first opened - and says the pending sale brings it full circle.
“I like the property and when I found it was available, I thought 'this would fit nicely in our portfolio'," Hawkins said. "We do business all over the country, so it is nice to do something in our hometown."
Hawkins recently has worked on development of the Trader Joe's center at Capitol Blvd. & Front St., and the nearby Inn at 500 Capitol. He says this latest building has great potential.
“We love the location - we think it’s one of the best in Boise. We have patience and we will wait until it’s the right time and make it a bigger project than it is today.”
Clarification: The retail building is owned by the Roper family while the parking garage is owned by CCDC.