Labor Shortages Impact the Retail Market, However, the Past Quarter Still Saw Strong Gains

TOK Commercial's Retail Report for Q3 2021 in the Boise MSA

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. 

Retail 2021 Trends — New Construction, New to Boise Tenants, & Tenant Expansion

TOK Commercial's Retail Report for Q1 2021 in the Boise MSA

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.

Opportunity to Lease Space in the Retail Hub of Best Performing Small City

Photo of Ashment Shopping Center | Located at 2395 E. 17th Street in Idaho Falls

Idaho Falls, with a trade area of over 250,000 people, is the 4th largest city in Idaho serving the entire eastern side of the state with major retailers, entertainment, education, and workforce opportunities.  Milken Institute's Best-Performing Cities in 2021 Index recently placed Idaho Falls in the top spot for 'Best Performing Small Cities', a six-spot increase from its former ranking.    

Recent Renovations Bring Life Back To Historic Hotel, Now for Lease

The Bonneville Retail located at 635 Park Avenue in Idaho Falls, Idaho

TOK Commercial is excited to offer one of downtown Idaho Falls' most character-filled, historic buildings for lease.  Built in 1926, The Bonneville Hotel was created to bring a first-class hotel experience to the community of Idaho Falls. With the original layout including a grand central lobby, dining rooms, a ballroom, and more, architectural firm H.L. Stevens Co. of San Francisco designed the building with a traditional Italian Renaissance architectural style.

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