Nearly 24,000 SF of office space was vacated last month in Downtown Boise, pushing absorption to -76,400 SF year-to-date, even lower than the overall market. As a result, Downtown vacancy has climbed to its highest point since mid-2011 (7.9%).
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Posted on 5/13/2013 9:44 AM By Kristi Larson
Mike Greene, CCIM, and Michael Keller, SIOR, CCIM presented the Selway Apartments for sale in late summer 2012. Situated on 10.10 acres in the popular area of Ten Mile and McMillan in Meridian, Idaho, Selway Apartments are a 161,108 square foot residential apartment community consisting of 171-garden-style units built in 2009. The owner/developer had a loan maturing and wanted to either sell or refinance.
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Posted on 4/26/2013 1:38 PM By Kristi Larson
Last night, Thornton Oliver Keller was honored as #10 in the Top 10 Best Places to Work in Idaho. This is Thornton Oliver Keller's 6th consecutive year on the Top 10 list. TOK was part of the Small Companies category, which had over 200 companies competing this year.
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Posted on 4/19/2013 12:49 PM By Kristi Larson
Owyhee (the former Owyhee Plaza Hotel) added space in March that will be available once its remodel is complete. This pushed vacancy in Downtown Boise up for a third month in a row to 7.3%, but still well below the market average.
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Posted on 4/5/2013 12:34 PM By Kristi Larson
Total office vacancy increased from 12.5% to 12.6% in January. Multi-tenant vacancy also rose from 17.9% to 18.3%. A call center vacated 8,500 SF on Cleveland Blvd causing vacancy in Caldwell to rise 200 basis points to 14.6%.
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Posted on 3/15/2013 12:18 PM By Kristi Larson
2012 was a year of continued improvement in the Boise commercial real estate market. Vacancy declined in all three sectors (office, industrial and retail), absorption was at its highest levels since 2006-2007, lease rates began to climb, and projected months of supply dropped as the year progressed. There were more investment sales and total volume of those sales was up for a 4th consecutive year.
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Posted on 3/5/2013 11:35 AM By Kristi Larson
On February 4th, 2013 Forbes.com released an article outlining the top 10 metro markets that are outperforming national housing standards...but are not receiving the credit they deserve. Boise was #3 on that list. To be an outperformer a metro area needed to have affordable houses, median home prices that are rising much faster than the rest of the nation, and a dwindling supply of single family homes at or near historically low levels.
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Posted on 2/22/2013 2:48 PM By Kristi Larson
December 2012: Ram Plaza, an attractive 16,181 square foot unanchored retail strip center is located on Broadway Avenue, close to downtown Boise, Parkcenter’s prestigious business parks and the Boise State University campus. This highly visible center enjoys a strong daytime population but in 2008, the project and its tenants were significantly impacted by the recession that gripped the local and national economies.
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Posted on 2/15/2013 1:32 PM By Kristi Larson
Total office vacancy increased from 12.3% to 12.5% in January. Multi-tenant office vacancy also month from 17.4% to 17.9%. A technology company downsized in Downtown Boise, placing 20,900 SF of space on the market. This vacancy is greater than the largest move out from 2012.
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Posted on 2/8/2013 2:25 PM By Kristi Larson
Mark Cleverley and Devin Pierce of Thornton Oliver Keller have been selected to present market information at the 2013 BOMA Commercial Real Estate Symposium on Tuesday, February 12, 2013. Keynote speaker for this event is Dr. Bill Conerly, contributor to Forbes.com. The BOMA Symposium covers many topics including the office, industrial, retail, and investment markets in the Boise MSA as well as property management and medical fields.
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Posted on 1/25/2013 12:54 PM By Kristi Larson