Retail construction in the Treasure Valley has been minimal this year with the only active sector being single-tenant pad buildings. As construction costs continue to increase, many developers have found that single-tenant buildings (with a tenant in-tow) present far less risks than spec construction.

New single-tenant pads include O’Reilly off of Idaho Center Blvd., Del Taco in Caldwell, and PIVOT Lifestyle + Fitness Center at Ten Mile Crossing.

Downtown Boise’s overall retail vacancy ended May at 3.7% - the lowest rate on record. Currently, the submarket sits with less than 34,000 SF of vacant space – smaller than the size of one big-box space.

Check out the retailers moving to Downtown Boise:

Brownfield Revamp

Tupelo Honey Restaurant

The Meridian submarket leads the way for the Treasure Valley’s retail market transactions. Net absorption is the strongest at 21,000 SF with 21 deals occurring YTD.

Projected supply is 15 months, which is within the 6-18 month healthy range. The largest deal YTD occurred when Steelz purchased 2150 Fairview Avenue, occupying 13,200 SF of the building.  

Idaho Falls, the 4th largest city in Idaho, is finally welcoming Costco. Thornton Oliver Keller’s own Brent Wilson is representing the big-box retailer, who plans on building a 150,000 square foot store at the intersection of Lincoln and Hitt Roads. The facility will also include a 15-30 pump fueling station. 

What drives foot traffic, offers landlords an attractive option for anchoring their buildings and is considered by some to be the ultimate amenity that a mixed-use project can offer?  In this blog post, Holly Chetwood explores the answer to this question - Food halls.