Blog

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. 

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.

Pages

Subscribe to Blog