Even with our current economic state, the Boise industrial market remains strong with total number of deals up nearly 5% over the past 12 months.

The North submarket leads the way in industrial activity while Meridian has the highest gross absorption at 178,600 SF. This number is mostly attributed to Gensco occupying their new 68,000 SF space on Lanark.

Overall industrial vacancy has also remained stable at 3.5%, with multitenant vacancy currently at 7.0%.

Months of supply is strong for the industrial sector with current supply at 6.6 months. All but one submarket are in the healthy range (less than 18 months). For the last two years, industrial months of supply has remained below 8 months. Also of note, total vacancy in the industrial sector remains low at 3.0%, while multitenant vacancy is 8.50%.