ICBIDAHO COMMERCIAL BROKERAGE

LAND OFFERING

WEST HIGHLANDS RANCH SUBDIVISIONMiddleton, Idaho 83644• 192.4 ± acres • Approved for 561 buildable lots• 3 phases have construction drawing approval

FOR ADDITIONAL INFORMATION, PLEASE CONTACT:

Ryan CantlonOffice 208.343.9300Cell 208.867.3751Email ryan@icbre.com

MiddletonHigh School

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ALSO AVAILABLEEstates 2 atMeadowpark

121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com

ICBIDAHO COMMERCIAL BROKERAGEWEST HIGHLANDS RANCH SUBDIVISION

MIDDLETON, IDAHO

All information herein has been obtained from sources deemed reliable but is subject to verification by Buyer. This offering is subject to price change, corrections, errors, omissions, prior sales and/or withdrawl.

OFFERING DETAILS

WEST HIGHLANDS RANCH SUBDIVISIONMIDDLETON, IDAHO 83644

2

Asking Price $7,696,040

Current Jurisdiction Annexed into City of Middleton

Current Zoning R-3

Gross Acres 192.401 (per County records)

Parcel Numbers R3820701000 (38.048 acres) R3821000000 (152.599 acres) R3821001000 (1.754 acres)

• Approved preliminary plat for 561 buildable lots• Construction drawings approved for three phases:

Phase 9: 51 Lots Phase 10: 49 Lots Phase 11: 49 Lots

• Development agreement in place• Proven project with multiple phases sold out • Utilities at or near site• Close proximity to Middleton High School• Highest absorbing area of Middleton• Contact listing agent for additional information

SOLD OUT

SITE SOLD OUT

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ALSO AVAILABLEEstates 2 atMeadowpark

121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com

ICBIDAHO COMMERCIAL BROKERAGEWEST HIGHLANDS RANCH SUBDIVISION

MIDDLETON, IDAHO

All information herein has been obtained from sources deemed reliable but is subject to verification by Buyer. This offering is subject to price change, corrections, errors, omissions, prior sales and/or withdrawl. 3

PROJECT SUMMARY

Phase 9

Acres 25.15

Buildable Lots 51

Typical Lot Size 80’ x 130’

Phase 10

Acres 15.93

Buildable Lots 49

Typical Lot Size 55’ x 105’

Phase 11

Acres 14.66

Buildable Lots 49

Typical Lot Size 75’ x 105’

Phase A*

Acres 18.5

Buildable Lots 48

Typical Lot Size 75’ x 105’

Phase B*

Acres TBD

Buildable Lots 44

Typical Lot Size 80’ x 30’

Phase C*

Acres TBD

Buildable Lots 43

Typical Lot Size 80’ x 130’

9

C

A

B11

10

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F

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SOLD OUT

Phase D*

Acres TBD

Buildable Lots 43

Typical Lot Size 80’ x 130’

Phase E*

Acres 15.93

Buildable Lots 53

Typical Lot Size 80’ x 130’

Phase F*

Acres TBD

Buildable Lots 55

Typical Lot Size 55’ x 105’

Phase G*

Acres TBD

Buildable Lots 49

Typical Lot Size 60’ x 105’

Phase H*

Acres TBD

Buildable Lots 37

Typical Lot Size 75’ x 105’

Phase I*

Acres TBD

Buildable Lots 40

Typical Lot Size 75’ x 105’

West Highlands Ranch Subdivision

Acres (Per County Records) 192.401Number of Buildable Lots 561

Phases 9, 10 and 11 have construction drawing approval.

* Lettered phases are for reference purpose only and will be re-assigned as necessary.

121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com

ICBIDAHO COMMERCIAL BROKERAGEWEST HIGHLANDS RANCH SUBDIVISION

MIDDLETON, IDAHO

All information herein has been obtained from sources deemed reliable but is subject to verification by Buyer. This offering is subject to price change, corrections, errors, omissions, prior sales and/or withdrawl. 4

MIDDLETON OVERVIEW

MIDDLETON, IDAHOIn 1863, Middleton, the oldest settlement in Canyon County, was divided into parcels. The town incorporated as a city in 1910. Named for its midpoint location between old Fort Boise and Keeney’s Ferry, Middleton provided basic services to travelers along the Oregon Trail.

The population of Middleton grew 35.2% between 2010 and 2017. Middleton’s July 2017 estimated population is nearly 7,500 making up roughly 30 percent of Canyon County’s overall population.

West Highlands Ranch continues to be the top performing subdivision in Middleton, with all south phases currently sold out.

Population 7,439 216,699Median Age 33 33Median Household Income $46,619 $44,800Median Home Listing Price $256,000 $229,000High School Graduate or Higher 89.8% 84.1%

STATISTICS

Source: US Census Bureau

MIDDLETON CANYON COUNTY

TOP 3 HIGHEST PERFORMING SUBDIVISIONS IN MIDDLETON BY YEAR

2014 2015 2016 2017 2018 (1/1/2018 - 5/31/2018)

Annual Sales

Avg Sales Price

Annual Sales

Avg Sales Price

Annual Sales

Avg Sales Price

Annual Sales

Avg Sales Price

Annual Sales

Avg Sales Price

West Highlands Ranch 61 $203,266 52 $229,339 38 $227,631 38 $251,625 38 $287,373

Falcon Valley 13 $169,942 8 $178,551 10 $204,571 10 $215,646 n/a n/a

Middleton Lakes 11 $137,636 n/a n/a n/a n/a n/a n/a n/a n/a

The Pines n/a n/a 13 $236,721 14 $228,288 n/a n/a n/a n/a

Crossing at Meadowpark n/a n/a n/a n/a n/a n/a 23 $258,725 7 $255,232

121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com

ICBIDAHO COMMERCIAL BROKERAGEWEST HIGHLANDS RANCH SUBDIVISION

MIDDLETON, IDAHO

All information herein has been obtained from sources deemed reliable but is subject to verification by Buyer. This offering is subject to price change, corrections, errors, omissions, prior sales and/or withdrawl.

PRELIMINARY PLAT

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FIRE DISTRICT

IRRIGATION DISTRICTS

ROADWAY JURISDICTION

SEWER AND WATER PROVIDER

SANITARY SEWER:

WATER MAIN:

IRRIGATION:

STORM DRAINAGE:

25 BLOCK 4

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SOLD OUT

121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com

ICBIDAHO COMMERCIAL BROKERAGEWEST HIGHLANDS RANCH SUBDIVISION

MIDDLETON, IDAHO

All information herein has been obtained from sources deemed reliable but is subject to verification by Buyer. This offering is subject to price change, corrections, errors, omissions, prior sales and/or withdrawl.

PARCEL MAP

6

121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com

ICBIDAHO COMMERCIAL BROKERAGEWEST HIGHLANDS RANCH SUBDIVISION

MIDDLETON, IDAHO

All information herein has been obtained from sources deemed reliable but is subject to verification by Buyer. This offering is subject to price change, corrections, errors, omissions, prior sales and/or withdrawl. 7

AERIAL

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W Main Street

Purple Sage Road

MiddletonHigh School Middleton Heights

Elementary School

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SOLD OUT

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SITE ALSO AVAILABLE

Estates 2 atMeadowpark

121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com

ICBIDAHO COMMERCIAL BROKERAGEWEST HIGHLANDS RANCH SUBDIVISION

MIDDLETON, IDAHO

All information herein has been obtained from sources deemed reliable but is subject to verification by Buyer. This offering is subject to price change, corrections, errors, omissions, prior sales and/or withdrawl. 8

VALLEY AERIAL

BOISEMERIDIAN

EAGLE

NAMPA

CALDWELL

KUNA

STARMIDDLETON

SITE

ICBIDAHO COMMERCIAL BROKERAGE

121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com

WEST HIGHLANDS RANCH SUBDIVISIONMIDDLETON, IDAHO

All information herein has been obtained from sources deemed reliable but is subject to verification by Buyer. This offering is subject to price change, corrections, errors, omissions, prior sales and/or withdrawl. 9

MARKET OVERVIEW

The Boise MSA is the third largest metro in the Northwest with 30% growth projected by 2020. The Boise metro area consists of the Southwestern Idaho counties of Ada, Boise, Canyon, Gem and Owyhee. Nearly 40 percent of Idaho’s total population lives in the area, which includes 251,142 households. The region is hemmed in by mountains to the North and high-desert to the South. The largest city is Boise, which encompasses nearly 80 square miles, is the capital city and boasts a population of nearly 230,000.

50 motor freight companies serve the Boise Valley, traveling 5 interstates, 20 U.S. highways and 30 state highways. Over 11 million tons of freight are transported annually across the U.S., to Canada and Mexico by Union Pacific and Burlington Northern Santa Fe along 1,600 miles of rail line. Various airlines connect the metro area nationally, with the Boise Airport handling over three million travelers each year.

BOISE METROPOLITAN AREA

#4 Top 10 Cities forYoung Families (Boise)

Move Buddha, January 2018

Top 20 Best Cities for Young Professionals

Forbes, May 2017

#1 Fastest Growing Metro in U.S.

Forbes, 2018

#5 Best Cities forQuality of Life (Boise)NerdWallet, October 2017

#1 City for New Home Sales (Meridian)

Curbed, January 2017

Top 10 SafestCities in the World

The Daily Meal, Oct 2017

#4 Best Place to Retire (Boise)

Forbes, January 2014

Lowest Business Costs in Pacific U.S.

KPMG 2012, 2015, 2016

#4 North America’s Coolest Downtowns

Expedia 2018

#2 America’s Best Cities to Live in (Meridian)

24/7 Wall Street, Dec 2016

#2 Destinations You Need to See in 2018

Lonely Planet, March 2018

#3 Best State Capitals to Live In (Boise)

WalletHub, February 2018

Population 710,000Unemployment Rate 2.9%Median Age 34.2White Collar Workers 36%Blue Collar Workers 63%Median Annual $42,180Bachelors or Higher 35.24%Sales & Use Tax 6%Corporate Income Tax 6.9%

BOISE VALLEY STATISTICS

Source: bvep.org

Source: 7/1/17 US Census

COUNTY POPULATION SQ MILES

Ada 456,849 1,052.58Boise 7,290 1,899.24

Canyon 216,699 587.37Gem 17,379 560.90

Owyhee 11,628 7,665.51Total 709,845 11,756.60

ICBIDAHO COMMERCIAL BROKERAGE

121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com

WEST HIGHLANDS RANCH SUBDIVISIONMIDDLETON, IDAHO

All information herein has been obtained from sources deemed reliable but is subject to verification by Buyer. This offering is subject to price change, corrections, errors, omissions, prior sales and/or withdrawl. 10

MARKET OVERVIEW

BOISE METROPOLITAN AREAThe Boise Metro, at 92.5% of the national cost of living, enjoys some of the lowest costs in the western United States. Shorter commute times, safer communities, access to outdoor recreation and a high in-migration rate of workers has created a dynamic workforce with an entrepreneurial vibe.

Major economic drivers in the region include semiconductor and other computer product manufacturing, food product manufacturing, administrative and business support services, and construction.

College/ University

Enrollment (Boise Valley)

Program

Boise State University 23,886 4-year

University of Idaho 1,000 4-year

Northwest Nazarene University

2,207 4-year

College of Idaho 1,065 4-year

Idaho State University 500 4-year

Concordia University School of Law

75 Private

College of Western Idaho 24,265 2-year

Carrington College 600 2-4 year

Stevens Henager College 400 2-4 year

Treasure Valley Community College

1,785 2-year

Brown Mackie College 400 2-year

Broadview University 100 2-4 year

• Micron Technology• St. Lukes Health Systems• St. Alphonsus Health System• Hewlett-Packard Company• J.R. Simplot Company• IDACorp (Idaho Power)• WinCo Foods, LLC• Albertson’s/SuperValu• URS Corp- Washington Group• Wells Fargo, N.A.• U.S. Bank• Boise Inc.• Bodybuilding.com• MWI Veterinary Supply, Inc.• Key Bank• Scentsy, Inc.• Lactalis American Group

• CSHQA• HDR, Inc.• CH2M Hill• Power Engineers• Hawley Troxell• Eide Bailly, LLP• Givens Pursely, LLP• Perkins Coie, LLP• Stoel Rives, LLP• URS Corporation• Balihoo• Healthwise• Clearwater Analytics• Keynetics Inc.• INL - Battelle Energy Alliance• Enphase Energy

• Wells Fargo, N.A.• DIRECTV• Alaska Airlines• WDS Global• Century Link• Albertson’s/SuperValu• T-Mobile U.S.A., Inc.• EDS, an HP Company• Citi Card• Intermountain Gas Company• ProService Boise• HP Shopping.com

LARGE EMPLOYERSTECHNICAL/ENGINEERING/

ARCHITECTURE/LEGALCUSTOMER SUPPORT CENTERS

Source: bvep.org

ICBIDAHO COMMERCIAL BROKERAGE

121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com

WEST HIGHLANDS RANCH SUBDIVISIONMIDDLETON, IDAHO

All information herein has been obtained from sources deemed reliable but is subject to verification by Buyer. This offering is subject to price change, corrections, errors, omissions, prior sales and/or withdrawl. 11

MARKET OVERVIEW

ADA AND CANYON COUNTY

YEAR ADA COUNTY CANYON COUNTY TOTAL

2014 2,270 864 3,1342015 2,980 1,028 4,0082016 3,596 1,282 4,8782017 3,859 1,449 5,3082018* 1,667 736 2,403

BUILDING PERMITS ISSUED

Source: Construction Monitor, Single Family Homes Only* Through 5/31/2018

MIGRATION TO SW IDAHO

2,0000

4,0006,0008,000

10,00012,000

2014 2015 2016 2017New Construction Sales Existing Construction Sales

ADA & CANYON COUNTY HOME SALES

Ada and Canyon county continue to lead the Idaho housing market in both inventory sold and average price for new construction. As the top two most populous counties in Idaho, both are poised for repeated growth trends.

2014 2015 2016 2017

ADA COUNTY

NEW CONSTRUCTION SALES 1,469 1,687 2,332 2,558

NEW CONSTRUCTION AVERAGE PRICE $246,141 $264,472 $279,581 $305,263

CANYON COUNTY

NEW CONSTRUCTION SALES 484 508 642 869

NEW CONSTRUCTION AVERAGE PRICE $200,769 $218,106 $230,374 $248,405

MIDDLETON

NEW CONSTRUCTION SALES 109 87 89 152

NEW CONSTRUCTION AVERAGE PRICE $218,954 $244,150 $272,873 $285,388

NEW CONSTRUCTION SALES AND AVERAGE PRICES

Migration accounted for 40.74% of growth in Idaho between 2010 and 2016. Ada County experienced 10.7% growth, while Canyon County grew by 9.8%.

59.26% within Idaho

40.74% outside of Idaho

121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com

ICBIDAHO COMMERCIAL BROKERAGEWEST HIGHLANDS RANCH SUBDIVISION

MIDDLETON, IDAHO

All information herein has been obtained from sources deemed reliable but is subject to verification by Buyer. This offering is subject to price change, corrections, errors, omissions, prior sales and/or withdrawl. 12

BROKER BIOGRAPHY/ICBRE OVERVIEW

RYAN CANTLONLand Brokerageryan@icbre.com(208) 867-3751

REAL ESTATE PRACTICESRyan Cantlon focuses on land acquisition and disposition. WORK HISTORYRyan has been involved in hundreds of land related transactions totaling thousands of development acres, resulting in the development of over 6,000 lots across more than 70 projects in the Boise MSA. Transactional experience includes master planned communities, bulk subdivision lots, commercial land, golf courses, and agricultural land. Clients Ryan has worked with range from various financial institutions, developers, local and national homebuilders, institutional funds, and local land owners.

PERSONALA native of Boise, Ryan received his BBA in Operations Management from Boise State University. In his free time he can be found enjoying the outdoors of Idaho.

SAMPLE TRANSACTIONS

SELLER REPRESENTATION BUYER REPRESENTATION660 acres - Ada County, ID 440 acres - Star, ID409 acres - Eagle, ID 365 acres - Eagle, ID393 acres - Nampa, ID 227 acres -Nampa, ID263 acres - Caldwell, ID 204 acres - Caldwell, ID211 lot subdivision - Eagle, ID 170 acres - Meridian, ID184 acres - Boise, ID 166 acres - Meridian, ID137 acres - Kuna, ID 114 acres - Meridian, ID127 acres - Star, ID 110 lot subdivision - Eagle, ID111 lot subdivision - Caldwell, ID 101 lot subdivision - Caldwell, ID100 acres - Middleton 100 acres - Kuna, ID99 lot subdivision - Caldwell, ID 85 lot subdivision - Meridian, ID95 acres - Eagle, ID 72 lot subdivision - Meridian, ID94 lot subdivision - Caldwell, ID 70 lot subdivision - Caldwell, ID92 acres - Star, ID 68 lot subdivision - Meridian, ID85 acres - Nampa, ID 64 lot subdivision - Star, ID65 acres - Eagle ID 62 acres - Eagle, ID 41 acres - Meridian, ID 52 lot subdivision - Middleton, ID

Idaho Commercial Brokerage was established in 2002 and operates on the premise of building dependable client-broker relationships unmatched by the larger corporate approach to brokerage representation.

The company consists of agents David McDonald, Moe Therrien, and Ryan Cantlon. Idaho Commercial Brokerage specializes in land and investment sales.

IDAHO COMMERCIAL BROKERAGE