Even as the stock market posts record-setting gains, TOK Commercial’s most recent data points to impressive gains for both sales and leasing activity in commercial real estate markets across Idaho. While the trends are very encouraging, they also pose nuanced complexities that commercial real estate participants are grappling with.
Despite a worldwide pandemic, the Boise MSA’s office market has thus far experienced a milder impact than expected.
Net absorption ended Q2 at 243,000 square feet, a moderate decrease compared to 12 months ago (290,000 square feet), but still higher than the first half of both 2016 & 2017. Overall vacancy decreased from 5.8 percent at the end of 2019 to a current all-time low of 5.2 percent.
While the past few months have created major setbacks and challenges for most cities' economies, Idaho Falls has proven to have a recipe for economic stability despite the pandemic.
Donald E. Larson, DMD renewed his 2,260 square feet of office space located at 700 E. State Street in Eagle. Chris Pearson of TOK Commercial facilitated the transaction.
The State of Idaho, Idaho Division of Vocational Rehab leased 4,252 square feet of office space located at 100 S. Adkins Way in Meridian. Karena Gilbert of TOK Commercial represented the tenant.
Ulteig Engineers, Inc. leased 6,302 square feet of office space in C.W. Moore Plaza, located at 250 S. 5th Street in Boise. Karena Gilbert and Patrick Shalz of TOK Commercial represented the landlord.
PC Plumbing leased 2,736 square feet of industrial space located at 2555 Stanley Street in Boise. Chris Pearson of TOK Commercial represented the landlord.
Unifirst Corporation renewed their 9,960 square feet of industrial space in Gowen Business Center, located at 1107 Exchange Street in Boise. Dan Minnaert and Devin Pierce of TOK Commercial facilitated the transaction.
Athlos Apparel, LLC leased 5,800 square feet of industrial space in Gowen Business Center, located at 1057 Exchange Street in Boise. Dan Minnaert, Devin Pierce and Chris Pearson of TOK Commercial facilitated the transaction.
Regal Coffee Company renewed their 2,260 square feet of industrial space located at 216 W. 38th Street in Boise. Chris Pearson of TOK Commercial facilitated the transaction.
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. Grandmill Lane
Coeur d'Alene, Idaho 83814
Main Phone: 208.449.1908
Spokane Office
717 W. Sprague Ave. Suite 1202
Spokane, Washington 99201
Main Phone: 509.606.5090