Long Range America Leases New Space
Long Range America, LLC leased 8,680 square feet of industrial space located at 33 N. Phillippi in Boise. Chris Pearson of TOK Commercial represented the tenant.
Bennett Industries Purchases Industrial Buildings in Maple Grove Center
Bennett Industries, Inc. purchased three industrial buildings totaling 93,511 square feet located in the Maple Grove Center in Boise. Gavin Phillips of TOK Commercial facilitated the transaction.
Bennett Industries Purchases Building in South Cole Business Park
Bennett Industries, Inc. purchased a 39,380 square foot industrial building in the South Cole Business Park, located at 7418 W. Mossy Cup in Boise. Gavin Phillips of TOK Commercial facilitated the transaction.
Industrial Activity Remains Resilient, with Total Number of Deals Increasing
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%.
Industrial Sector's Months of Supply Remains Healthy
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%.
New Automated Modular Building Factory Completed
Autovol, an automated volumetric modular manufacturing factory, has completed their new 410,000 square foot facility off Star Road in Nampa. The company will focus on using automated modular construction to build affordable housing units.
11th & Idaho and Amazon Expansion Among Boise's Big Changes in 2020
The Idaho Statesman has highlighted big changes to look out for in the Treasure Valley in the year 2020.