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Local retail market continues to post strong numbers despite national slump

Boise retail space in El Dorado Marketplace

The Boise MSA's total retail vacancy ticked-up slightly from 8.1% to 8.3% in February however unanchored vacancy decreased from 12.1% to 11.9%. The local retail market is considerably stronger than other markets across the nation where retail product has struggled and vacancies are much higher. 

Office vacancy rate remains low

Boise office building

Our local economy continues to show no sign of weakening.  The commercial real estate office market, a key indicator of business confidence, posted strong numbers in February.  Of note, the office market's vacancy rate in the Southwest Boise submarket fell to 4.1%, the lowest point in over 15 years.

Office market vacancy rising

Boise Idaho at dusk looking at downtown from the train depot

November's commercial real estate update for the office market in the Boise area has just been released by our research team.  Our team of analysts note several interesting items in this month's data, including: an overall uptick in market vacancy, new office construction in South Meridian, and Canyon County's office absorption being led by the Idaho Center submarket.

Boise named one of the safest cities ... in the world!

Boise Idaho photo with sun streaming from cloudy sky

MSN recently produced an article detailing the 50 safest cities in the world. They used data that was mined by Numbeo in order to find vacation spots where you're least likely to encounter crime. Nobody wants to have their pocket picked on vacation! Those of us living in Boise are not surprised at all by their findings.  

Boise, Idaho came in at #8 on the list of 50. It was one of only two US cities to make the list. (The other US city was Salt Lake City, UT - #49.) If you're curious, the #1 honor went to Abu Dhabi in the United Arab Emirates.

Southwest Idaho's office market very healthy

Downtown Boise office building at dusk

September's office market statistics are encouraging. 

The analysts in our market research team just released the results for the 2017 September market and they're very positive.  Total offfice vacancy decreased from 9.0% to 8.9% which indicates that the office market continues to show movement in same direction as the rest of the nation. Additionally, multitenant vacancy remained flat at 13.3%.  Office users throughout southwest Idaho continue to enjoy the option of choosing from a variety of well designed, easily accessible space in some of the market's top locations.

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