ICRE: Historic Hoff Building gets new owner, ICRE shares in excitement
May 2020
Wendy Shoemaker joined the ICRE team 9 years ago, and has been leasing for the Historic Hoff Building, under previous ownership for the last 16 years. Before that she managed the Hoff Building, and did leasing for Tire Distributors, Inc. for 23 years.
“I'm very excited and happy about the change in ownership,“ says Shoemaker, “Diane Hendricks has the capital to make much needed improvements to the building. It's such an iconic property with the Art Deco design. When you say your office is in the Hoff Building, people know where you are, and I think it gives greater credibility to businesses that are located here.”
She is also remains optimistic about the city of Boise during the Coronavirus pandemic. “Downtown will always be the heart of Boise. It will continue to be a destination for people working, playing, going to restaurants and bars, and attending cultural events. I expect there to be a lull in leasing because people are afraid, but there is such a pent-up demand for office/retail spaces Downtown. I fully expect it to be back to its activity level over time.”
New occupancy in 2019-2020 include Bank of Jackson Hole/Alpine State Bank, YFDC, and Primus Public Policy. Digital Arts West also leased office space in the Hoff, as did Mooney Weiland, a law firm who leased the entire 5th Floor. Social Eyes Marketing leased the 14th Floor, or “at the top of the Hoff” as they put it, which has iconic 360˚views of Downtown Boise.
Check out coverage on the new ownership of the Hoff Building from BoiseDev.
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Iconic downtown building gets billionaire new owner
Hendricks Commercial Properties snapped up another high-profile building in Downtown Boise: The Hoff Building.
We first told you the 90-year-old art deco building went up for sale last fall. Hendricks completed the purchase early this year.
“Honestly it was one of the first buildings in town that I really really liked,” Hendricks Commercial Properties CEO Rob Gerbitz said. “I love the location. It’s really an iconic building that fits well in our portfolio of buildings we like to have.”
That Boise portfolio continues to grow for the Beloit, Wisconsin company. In the last few years, it purchased Bodo, The Owyhee and Jefferson Place.
Owned by billionaire Diane Hendricks, HCP develops projects in a smattering of communities around the country. Hendricks is the nation’s second-richest self-made woman, according to a 2017 New York Times profile of her work in Beloit.