Overview
Northgate Shopping Center is a 165,556 SF grocery anchored (Albertsons) shopping center with a value add component. At acquisition, the property was 73% occupied which consisted of Jr. Box vacancy. The property was built in 1984 & 1992 with a recent renovation in 2018 that gave the center a new look. VAC purchased the asset in October 2025, materially below replacement cost and is currently focused on re-tenanting, renewals, and filling the Jr. Box vacancy with national tenants to bring new life back into the center. VAC anticipates to hold the project for two to three years and will disposition the asset after achieving full occupancy.
Gallery
Project Details
- Status
- Current Asset in Boise, Idaho
- Type
- Value Add Acquisition
- Location
- Boise, ID
- Size
- 165,556 SF
- Shadow-Anchor
- Albertsons (separately owned)
- Year Built
- 1984 & 1992
- Renovation
- 2018
- Acquired
- October 2025
- Occupancy at Acquisition
- 73%
- Hold Period
- 2-3 years