We recommend reading three recent articles in the Idaho Business Review which detail interesting market movement in commercial real estate and also happen to involve several members of our brokerage team.
Article #1: The redevelopment of the Tenth & Main building, a project that we represent. You can read the IBR's reporting here.
Lost River Wellness, PLLC leased office space at 1919 W. State Street in Boise, Idaho.
Teen Challenge purchased a 14,314 square foot office building located at 1723 S. Horton Street in Nampa, Idaho.
BPM Investments, LLC purchased a 30,000 square foot industrial building located at 1602 Freedom Ave. in the Sky Ranch Business Park, Caldwell, Idaho.
Holly Chetwood and Laurie Reynoldson of Thornton Oliver Keller recently received the highly coveted CCIM designation for their excellence and experience in commercial real estate. CCIM stands for Certified Commercial Investment Member and is a global community of 13,000 members comprised of 50 chapters in 30 countries. Members are considered leading experts in financial & market analysis and investment strategy.
2018 has been a booming year for commercial construction in Twin Falls. According to The East Idaho Business Journal, the number of new commercial buildings has nearly doubled from 2017. There have been 59 new commercial building permits issued this year with an estimated total value of $63 million.
Tyler Industries, Inc. leased 1,040 square feet of industrial space in Centurion Building C located at 2167 Centurion Place in Boise, Idaho. Tyler Industries provides custom manufacturing of computer components. Gavin Phillips and Chris Pearson, SIOR of Thornton Oliver Keller Commercial Real Estate facilitated the transaction.
Rural Haze, LLC leased 3,092 square feet of space at 3621 E. Newby Street in Nampa, Idaho. Rural Haze provides sales of apparel and footwear. Chris Pearson, SIOR of Thornton Oliver Keller Commercial Real Estate facilitated the transaction.
For years I've heard from people arriving in Boise from out-of-state, that they were shocked by the lack of urban living options in downtown. As of 2018, that is no longer a concern. There are now over 1,000 dwelling units under construction or planned in the downtown submarket. This is a big market indicator for retailers because these are the people who will be spending their money in this submarket with increasing frequency and will spread across more categories than the 9-5, M-F demographic which only works in downtown Boise.
There’s just something about a downtown culture that can’t be replicated. You can’t plug in a formula and mass produce Boise’s downtown scene anywhere else across the country. This is what makes doing business in a downtown setting so unique and rewarding. A majority of our retailers are local, and a majority of our patrons are loyal to local. This is special and worth protecting while we foster productive growth in our city. We are naturally experiencing a nice balance of local, regional, and national retailers in the downtown core and that’s not by accident.
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