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The Retail market experienced a boost in activity during the second quarter, with both gross and net absorption rising dramatically versus Q1 and overall transaction volume up over 60 percent (by number of deals). As a result of this strong market activity, overall vacancy has declined from 8.6 percent to 7.2 percent.
Investment transaction volume is on pace with the amount seen in 2020 ($574 million). Through the first half of 2021, $232 million in investment product has exchanged hands in the Boise MSA.
After a year of altered lifestyles, economic strain, and evolving businesses the Boise Revival Project is engaging the community in an effort to restore the life of downtown Boise.
The closing of Q1 demonstrated that 2021's office market is off to a solid start in the Boise MSA, posting 310,000 square feet of positive net absorption. This is the second strongest quarter (second only to Q4 2020) in the past five years.
You've seen it on the skyline, now see what really makes 11th & Idaho great.
For lovely sunrise, sunset, or urban cityscape views in the heart of downtown, 11th & Idaho provides a rare, unbeatable perspective from its rooftop deck.
2020 began with a strong start for the Retail market, posting 166,000 square feet of positive net absorption in the first 90 days. However, along with the pandemic came many business closures and the subsequent two quarters posted negative net absorption. However, a rebound began in Q4, where the market saw over 400,000 square feet of gross absorption, the strongest quarterly activity since 2013. As a result, net absorption finished the year at 191,000 square feet. The number of transactions completed in Q4 was also up 28 percent from its lowest point in Q2.
Meridian's primary corridor for shopping, entertainment, restaurants, services, and more surrounds Eagle Road. Notable employers — such as Blue Cross of Idaho, Scentsy, and St. Luke's — as well as major shopping destinations — such as The Village at Meridian and Meridian Crossroads — also lie along this corridor making it one of the most vibrant areas of Meridian.