Colliers’ george iliff rides boise’s hot commercial real estate market _ idaho statesman

After earning a degree in marketing at San Diego State University, Iliff climbed the ranks for a decade at Grubb & Ellis. Denver business brokers starting as a salesman in San Diego before managing the Phoenix office, then running 12 offices in California and Arizona.

He co-founded his own commercial real estate office, Iliff, Thorn & Co., in 1980. Sunbelt business brokers complaints He sold his share in 1994 to Colliers Macauley Nicolls International and served as its U.S. Business brokers michigan president before moving to Boise.

Here, Iliff served stints as chairman of both the Boise Metro Chamber of Commerce and its economic-development arm, the Boise Valley Economic Partnership. Vested business brokers In 2013, he and other local business figures founded Boise Elevated, a nonprofit intended to give the business community a more prominent voice in public policy.

Iliff, 71, and his wife, Cathy, live in a condo on Crescent Rim Drive south of Downtown. Professional business brokers He enjoys golfing and backpacking and spends much of his free time in Sun Valley, where he bought a home before moving to Boise.

A: I got here basically because of what was going on in California at the time. Business brokers ohio After 2000, the economy really retracted based on the dot-com implosion. Business brokers net I was in San Francisco. Sunbelt business brokers las vegas The market dynamics shut down in the Bay Area. Business brokers in florida There was hardly any activity.

I was commuting to a house in Sun Valley two or three weekends a month. Transworld business brokers I thought if I did something in Boise, I’d at least shorten my commute. Sunbelt business brokers reviews That was more the driver than my great foresight or strategic planning.

I bought this business in 2001 from the corporate Colliers, which had purchased it three years earlier. Kr business brokers It wasn’t doing well. Alpha business brokers It was losing money. Arkansas business brokers They were amenable to my interest in purchasing it. Business brokers association I did that with a partner whom I’ve since bought out.

A: Great. Brooklyn business brokers We’re going to get right where we were [in 2015], which was our best year since I’ve been here, up about 30 percent over 2014. Sunbelt business for sale The indications are that [2017] will be equally as strong.

A: The biggest trend is the change in the market relative to in-migration, both for individuals and for businesses coming into the community. Vested business brokers review In October, it cost $2,500 to rent a U-Haul truck in Los Angeles and drive it one-way to Boise. Business brokers denver It would cost $450 to rent the same truck in Boise and drive to L.A. One business brokers That gives you an idea of the demand and the activity we’re seeing.

A: We’re seeing internal growth of existing businesses, based on population increase. Business brokers minnesota And we’re seeing external businesses coming in. Certified business brokers Some are small tech firms, midsize manufacturing firms, growth and distribution. Maryland business brokers There’s growth in the office sector as well. Sahara business brokers We see that continuing.

The other strong trend is from the investment community. Business brokers of florida This market has really caught fire in terms of people from outside the area looking for investment properties to purchase. Florida business for sale Our cap rates have compressed from 8 to 10 percent to some now trading for under 6. Sunbelt business brokers review It’s the strongest I’ve seen since I’ve been here. Sunbelt business brokers canada [A capitalization rate, or cap rate, is an expected return on a real estate investment based on the property’s expected income. South florida business brokers It is net operating income divided by current market value.]

A: I hear from my Colliers peers that all markets are growing across the country. Sunbelt business brokers mn Even in California, markets are growing pretty rapidly. Cafe business brokers Tucson might be analogous to Boise or Colorado Springs. Ohio business brokers But Boise is the darling of the tertiary markets in the West.

A: I did, but it’s not that I forecast the future particularly well. Business brokers charlotte This is such a great place that my expectation in 2002 was the market would begin to behave then as it is now. Business brokers international It’s taken that long for the market to mature enough, get discovered enough, and the cycle to be such that home values in other markets rose above water so they can sell and move, as opposed to being stuck where they are.

You develop a reputation as a firm and an individual who is either positive and collaborative, who gets deals done, or who is difficult to deal with.

A: There are a number of focus areas and initiatives in which Boise Elevated has been engaged, both behind the scenes and in the media. Vested business brokers ltd Those include supporting the St. Best business brokers Luke’s master plan and the 2015 Boise open-space levy.

We’ve streamlined the final plat process and surety requirements with Ada County, the highway district, cities and developers that will reduce development costs. Florida business for sale by owner Those savings need to be passed on to customers.

Boise Elevated also initiated the Front and Myrtle Alternative Study now underway. Business brokers iowa That will re-imagine the corridor to improve pedestrian connectivity and enhance development.

We’ve examined highway district policies for local street widths to improve safety and reduce future costs. Illinois business brokers We’ve supported political candidates we think will improve relationships between public agencies.

A: One mistake I made early in my career as an owner was not paying enough attention to expenses. Business brokers pa Today, we are very careful about how we manage how much money we spend, and where we spend it. Southeast business brokers I’m a better businessman today than I was 15 or 20 years ago.