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Boise Valley Industrial Market Vacancy at All-Time Lows

Aerial photo of Gowen Industrial Business Park

The Boise Valley's Industrial market is very competitive.  In fact, not a single Boise Valley submarket posted an increase in Industrial vacancy for the month of July.

Incredibly, of the 15 Boise submarkets that our team tracks, 11 of them actually saw a further decline in Industrial vacancy (from the previous month) and 4 of those submarkets set all-time lows for the vacancy rates recorded. 

Plenty of factors are contributing to these market conditions and we believe that the market will continue to be tight, since projected supply has dropped below the 6 month mark.

Boise Growth – Our Perspective, Part 3 of our Conversation

Boise ldaho's cost of living remains low

Boise’s cost of living is a key driver of growth. Historically, the cost of living in Boise has been considerably lower than other regional metro areas, including Seattle, Portland and Salt Lake City.  Fortunately, Boise has been able to maintain this affordable cost of living while experiencing significant growth.   Attracting and retaining a skilled work force is crucial for community and commercial success.  We believe that Boise’s unique ability to grow its talent base while maintaining its fully vibrant lifestyle, at a fraction of the cost of similar metro areas, should be celebrated. 

Twin Falls Land Market Very Healthy

Twin Falls Land Values Strong

The market for development land in Twin Falls continues to enjoy strong interest.  As the entire Magic Valley region has been the subject of attention by national corporations (Chobani, Clif, Jayco, Glanbia...), the demand for development land has risen dramatically.  In fact, land prices within the city of Twin Falls seem to be keeping pace with those in the Boise Valley.  A combination of factors are contributing to these market conditions, including: scarcity of land, population growth, appraisal values, proximity to new industry and investor interest.  The Idaho Business Review recently

Boise Growth – Our Perspective, Part 2 of our Conversation

Boise's population growth has attracted national attention

As mentioned previously, the positive national attention that Boise has recently received spurred us to reflect on Boise’s past, present and future.  As we compare Boise’s growth through the 1990s (when we began our commercial real estate practice in Idaho) with current trends, we continue to be optimistic about both the business environment and the sustained quality of life here in the Boise Valley.

Boise Growth – Our Perspective, A Four Part Conversation

Boise Idaho growth opportunities

If you haven’t heard, Boise is garnering significant positive attention from the national press. The Boise MSA is consistently considered to be a preferred destination for its business environment and quality of life. All of these accolades have spurred growth and given us an opportunity to pause and consider how today’s trends compare to those of the area in the early 1990s.

Over the next few weeks, we’ll share an interesting data point from today’s news and compare it with what life was like in the Boise Valley 25 years ago.

Is Amazon coming to Nampa?

Amazon distribution Nampa Idaho

A conditional use permit for the nearly 850,000 square foot distribution center has been filed with the City of Nampa. The developer, Panattoni Development Company, Inc., is looking to build this distribution center on the southwest corner of East Franklin Road and Star Road in Nampa. A proposed hearing for the warehouse is on the Nampa Planning & Zoning calendar for Tuesday, July 10th.  You can learn more about the project, here.

Big Box Changes Coming to Nampa

Nampa retail market Karcher interchange

Retailers in the Karcher/Midland interchange area of Nampa will witness some big changes in the upcoming months. The first major event will be the closure of Nampa’s K-mart this August.  K-mart's exit will open up significant opportunities for new tenants looking for space in this growing market. The second event will occur this fall, when construction should be finished on Burlington Coat Factory’s new 40,000 square foot store at Treasure Valley Crossing. Burlington's current big-box space in the Karcher Mall will become available for new tenants looking to land in Nampa's only mall.

Groundbreaking held for Pioneer Crossing

Pioneer Building Future Site

Groundbreaking ceremonies for the much anticipated 127,600 square foot Pioneer Crossing office building located at 13th & Front in Downtown Boise took place on June 13th.  The project is enjoying strong interest and is expected to be at least 50% leased before its completion in Summer 2019.  First Interstate Bank is the first tenant to formally commit to the project.

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. 

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