July 2022 | Idaho Retail Commercial Real Estate Vacancies Drop to Record Lows

Submitted by Marketing Team on Mon, 07/25/2022 - 07:56
Idaho Retail Real Estate Vacancy Rates Graph

The Big Picture: Retail space across all Idaho markets remains limited as vacancy dropped to record lows in June. In the Boise MSA, total vacancy hit a 23-year low of 5 percent. In addition, unanchored vacancy has stayed below 5.5 percent throughout 2022. In Eastern Idaho, total vacancy has been declining throughout the year and is currently at a historic low 4.7 percent. The Magic Valley has seen the lowest vacancy rates of all markets at 3.9 percent, while unanchored vacancy is even lower at 2.9 percent.  

  • BOISE MSA: Overall vacancy in 13 of the 18 submarkets is below 6 percent.
  • EASTERN IDAHO: Overall vacancy in South Idaho Falls, the largest retail submarket, hit a historic low of 0.9 percent in June. 
  • MAGIC VALLEY: Unanchored vacancy for the Twin Falls area reached a record low of 2.5 percent in June.

The Takeaway? Retailers have proven to be savvy survivors and vacancy rates indicate that they are bullish on the future. Pivoting during the pandemic shutdowns, restaurants enhanced their drive-thru and curbside pick-up options while many retailers strategically rightsized their spaces, which could benefit their business models as consumers' demand for goods and services temporarily wane as a result of inflation.

View our Retail Vacancy Rates interactive graph, here.

Five Locations to Serve You

Boise Office
250 S 5th Street, 2nd Floor
Boise, Idaho 83702
Main Phone: 208.378.4600

Nampa Office
16150 N. High Desert Street, Suite 200
Nampa, Idaho 83687
Main Phone: 208.378.4600

Twin Falls Office
195 River Vista Place, Suite 204
Twin Falls, Idaho 83301
Main Phone: 208.944.9694

Idaho Falls Office
1135 Pier View Drive, Suite 120
Idaho Falls, Idaho 83402
Main Phone: 208.227.8148

Coeur d'Alene Office
3322 N. Grand Mill Lane
Coeur d'Alene, Idaho 83814
Main Phone: 208.449.1908