TOK's Research team just finished publishing commercial real estate market update reports for the Boise MSA and Eastern Idaho markets. You can read about vacancy and lease rate trends, absorption statistics and notable transactions.
According to a recent survey of job markets across the US, Wallethub has ranked Boise in the Top 10 for those seeking a new job. While Boise is not a newcomer to these top lists, it is good to see it included in surveys which focus on job market growth and socio-economics.
Inc.com has awarded Boise a new title as one of the top 2020 'Surge Cities', a ranking of the best American hubs to start a business. Boise earned the No. 5 spot, following major metros such as Austin, Salt Lake City, and Denver.
According to Realtor.com, Boise topped the national list for housing markets positioned for growth in 2020. This is up from the #8 spot in the 2019 rankings. Realtor.com polls the top 100 largest metropolitan markets in order to set their annual list. Salt Lake City (#10) and Spokane (#15) are nearby metros also making the top list.
The month of October saw the delivery of nearly 140,000 SF of spec construction, the highest amount delivered all year. All of the completed spec buildings were in Canyon County, including the Keystone Building (60,000 SF) in Caldwell and 16400 Norco Way (67,500 SF) in Nampa.
As retailers continue to adjust marketing strategies in order to find the optimal balance between online and brick-and-mortar points of sale, North Face has launched a new strategy designed to "facilitate stronger connections with consumers and create a retail environment that focuses on brand identity as much as it does on merchandise." To learn more about North Face's experiential marketing focus and it's emphasis on design, click here.
The multifamily development market is posting strong numbers locally as well as nationally. As developers (and investors) ponder what it will take to position projects for success, market research always comes in handy. A recent article by the National Real Estate Investor (NREI) offers insight into prospective tenants' motivations. You can read the piece in its entirety, here.
The Situation: Health Foods Franchise Targets the Treasure Valley
- Clean Juice, a national smoothie, juice and health foods restaurant franchise, was seeking a space to expand the brand into the Treasure Valley.
- The client had been assigned to a national broker for over 90 days with no success in finding a suitable location in the Boise market. After being referred to Thornton Oliver Keller, JP Green eagerly took on the client confident that he could find the right space to expand Clean Juice.