Idaho offers $1 million price drop on office building sale

BOISE, Idaho – State officials have approved auctioning 10 commercial properties, including one with a $1 million price drop.

The Idaho Land Board voted 4-1 on Tuesday to sell the properties as part of a plan to get rid of politically contentious commercial real estate and use the money to buy timberland and agricultural land the state uses to generate revenue to fund schools.

The properties are mostly in Boise and Meridian but include a 32,000-square-foot office building in Idaho Falls that failed to sell at a previous auction.

The appraised value has dropped from $6.1 million to $5.175 million.

The building is leased by Battelle Energy Alliance, a company that manages the Idaho National Laboratory for the U.S. Department of Energy.

The public auction is set for Dec. 6 in Meridian.