Multifamily Facility Purchased In Boise
An undisclosed buyer purchased a 3,264 unit multifamily facility located at 512 N.14th Street in Boise. Michael Ballantyne and Sam McCaskill of TOK Commercial facilitated the transaction.
Industrial Vacancy Continues to Hit Historic Lows, While Spec Demand Drives New Construction
The industrial sector shows no signs of slowing down with absorption surpassing 1 million square feet halfway through the year.
Office Net Absorption Outpaces 2020, Midway Through the Year
Transaction volume picked up significantly in the second quarter, with an increase of over 50 percent in the amount of office square footage absorbed. Midway through the year, net absorption in the Office market already outpaced the amount seen at the end of 2020. Meridian and Downtown Boise have had the most net absorption occur, 192,000 square feet and 105,000 square feet, respectively. Projected supply for Meridian, the market’s second-largest submarket, is currently 10 months.
Labor Shortages Impact the Retail Market, However, the Past Quarter Still Saw Strong Gains
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.
Fuller84 Business Park Breaks Ground!
Fuller84 Business Park officially broke ground on the new 60-acre master-planned industrial park, on Friday, July 16th.
Boise MSA Investment Market Poised to See Continued Robust Demand
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.
TOK Commercial Proudly Sponsors the Boise Revival Project
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.
Boise MSA Office Market Demonstrates Strong Absorption Despite Increased Vacancy
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.
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Retail 2021 Trends — New Construction, New to Boise Tenants, & Tenant Expansion
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.