A large industrial property in Pocatello changed hands on June 5, 2026, as Lex Development completed its purchase of a nearly 60-acre site at 1800 River Park Way from Portneuf Capital. The sale price was not disclosed.
The property consists of two industrial-zoned parcels totaling 59.7 acres and includes approximately 45,904 square feet of office space and 113,048 square feet of warehouse space. CBRE brokers Kurt Gregg, Tim Reid, and Montana Carranza represented the seller in the transaction.
Site History and Environmental Clearance
The property previously served as the manufacturing site for Hoku Materials, a polysilicon production company that once drew significant attention to Pocatello as a potential hub for solar-grade materials manufacturing before ceasing operations. The site’s industrial past required environmental review ahead of any redevelopment.
A Phase I environmental assessment has been completed, with no further action required, clearing one of the more significant hurdles for future development. The property is also enrolled in a brownfield development program, a designation that typically opens the door to additional state and federal incentives aimed at bringing previously used industrial land back into productive use.
Redevelopment Potential for Southeast Idaho
The scale of the site gives Lex Development considerable flexibility. The property is considered suitable for a multi-tenant business park or a single owner-user industrial development, making it one of the more substantial industrial land acquisitions in the Pocatello area in recent years.
For a community like Pocatello — which sits at the crossroads of Interstate 15 and Interstate 86 and has actively worked to diversify its industrial and commercial base — a transaction of this size carries meaningful economic implications. Nearly 160,000 square feet of existing building space is already on the land, providing a potential head start for an incoming owner-user or anchor tenant without requiring ground-up construction.
Brownfield redevelopment has become an increasingly common pathway for industrial growth across Idaho, as communities look to put legacy manufacturing sites back to work rather than developing new ground. The completion of the Phase I environmental review removes a key uncertainty that often delays such projects.
What Comes Next
Lex Development has not publicly announced specific plans for the River Park Way site. Given the property’s size, existing structures, and favorable environmental status, industry observers would expect the new owner to begin evaluating development options or tenant interest in the near term. The brownfield program designation may also open the door to public-private partnerships or grant funding to assist with any infrastructure improvements needed to bring the site to full capacity.
For Pocatello and Bannock County, the transaction represents a vote of confidence in the region’s industrial future. Continued attention to the site’s development timeline will be warranted as Lex Development moves forward with its plans.
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