Pho 7, LLC leased 2,830 square feet of retail space in Venture Pointe, located at 732 Caldwell Boulevard in Nampa. Brianna Miller of TOK Commercial facilitated the transaction.
Dharma Sushi leased 1,722 square feet of retail space in Brownfield's Building, located at 122 N. 5th Street in Boise. Holly Chetwood of TOK Commercial facilitated the transaction.
Super Chix Idaho, LLC leased 3,044 square feet of retail space in Hillcrest Plaza, located at 2671 E. Sunnyside Road in Ammon. Brent Wilson, Brian Wilson, Holly Chetwood, and John Stevens of TOK Commercial facilitated the transaction.
Hole Foods, LLC leased 1,200 square feet of retail space in Hillcrest Plaza, located at 2675 E. Sunnyside Road in Ammon. Brent Wilson and Brian Wilson of TOK Commercial facilitated the transaction.
Snake River Restaurant Group, LLC leased 1,646 square feet of retail space in Hillcrest Plaza, located at 2681 E. Sunnyside Road in Ammon. Brent Wilson and Brian Wilson of TOK Commercial represented the landlord.
Copper Alibi Sport Zone leased 3,130 square feet of retail space in Campus Commons Center, located at 677 Filer Avenue in Twin Falls. Dan Wilhelm and Grayson Stone of TOK Commercial facilitated the transaction.
The retail industry saw the largest impact from COVID-19, but in the Boise MSA that impact is still only minimal thus far.
Net absorption decreased in Q2 but still ended the quarter in positive territory (131,000 square feet), compared to negative absorption (-320,000 square feet) a year ago.
Although retail vacancy has seen a slight up-tick since Idaho’s economic shutdown, Total Vacancy (8.4%) in the Boise MSA is still lower than it was this time last year and Unanchored Vacancy (7.23%) is just slightly above the 20-year record low of 6.2% reached this March.
Happy Teriyaki, Inc. renewed their 1,386 square feet of retail space in Majestic Marketplace East, located at 2310 E. Overland Road in Meridian. Brianna Miller of TOK Commercial facilitated the transaction.
The past month brought a glimmer of hope for Idaho retailers moving forward. May 1st marked the beginning of Idaho’s Stage 1 of reopening, with many non-essential retailers being allowed to open their doors for the first time in over a month. Stage 2 of reopening began May 16th – allowing for another wave of business owners to open –including dine-in restaurants, salons, and fitness centers. Stage 3 began last week, on May 30th, as most remaining retailers – such as bars and movie theaters – were able to open their doors. Although shopping, entertainment, and services may look different as retailers must still adhere to business protocols – the buzz of excitement is in the air.
