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April 27, 2004

Boise State University Enters Into Agreement To Purchase Property From Yanke Family

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A major transaction that is both a sale and a donation by the family of the late Ron Yanke to Boise State will allow the university to acquire a key parcel of property adjacent to the southwest corner of its main campus. Boise State has an agreement to purchase Capitol Village shopping center, the neighborhood retail center at the southeast corner of Boise Avenue and University Drive, officials announced today. The property, valued at $6.61 million, will be sold to Boise State for $5 million by the family of Yanke, a longtime Boise businessman, philanthropist and supporter of the university who passed away in February at age 68. The $1.61 million difference will be a gift to BSU from Yanke�s family. According to Rick Smith, vice president for university advancement, Boise State had been seeking the acquisition of Capitol Village and was in negotiations with Yanke for more than a year before his illness and subsequent death. �This generous donation by the Yanke family is indicative of Ron�s love for Boise State,� said Smith. �We are most grateful that Ron�s family was willing to complete the transaction, giving the university much-needed additional space and the potential for an attractive gateway to our campus for visitors entering via the west end of the campus. �Ron had a longtime history of generosity to Boise State, and this gift from his family is a fitting epitaph to that generosity.� Yanke had been a major financial contributor to several projects at Boise State, including the building of the Simplot/Micron Building, the Centennial Amphitheatre and the expansion of Bronco Stadium. He also helped secure the land on which the Boise State-West campus now stands. Yanke also served on the boards of the Boise State Foundation and the Bronco Athletic Association. �Our intent is to use the parcel for university space needs,� said Stacy Pearson, BSU�s interim vice president for finance and administration. �The property is at a strategic location at the southwest entrance of our campus and contiguous to current and new university housing.� The property includes a 25,423-square-foot building previously occupied by an Office Depot store, 13,045 square feet of privately leased space, 3,725 square feet of space currently leased by the university, and an additional 8,721 square feet of vacant space. Capitol Village is located at the intersections of Capitol Boulevard, Boise Avenue and University Drive. Pearson said the university would honor the leases of the businesses currently operating in Capitol Village; they include a Starbucks franchise, three restaurants, a hair salon and a bookstore that will be opening soon. She added that units of the university not tied to the day-to-day operations of the academic core but in need of more convenient public access were potential occupants for the office space in Capitol Village. -30- Contacts Rick Frisch University Advancement 426-4278 Stacy Pearson Finance and Administration 426-3494

Last reviewed on Thursday, July 21, 2005