Q1 Industrial Total Vacancy Hit A Historic Low Of 1 Percent

Submitted by Marketing Team on Fri, 05/06/2022 - 12:07

The beginning of 2022 continued to see strong activity from large industrial users with 25 percent of Q1 deals being over 10,000 square feet. The rise in large deals in addition to limited vacancy has ultimately pushed net absorption to record breaking numbers the past three years as well as sparked bigger speculative developments throughout the valley. Between the years 2015 to 2019, there were five speculative buildings delivered that were over 80,000 square feet. Since 2020, six spec buildings have delivered over 80,000 square feet with an additional 22 buildings currently under construction or planned to be complete by 2023.

Office Net Absorption Outpaces 2020, Midway Through the Year

Submitted by Anonymous (not verified) on Tue, 08/17/2021 - 11:08

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

Submitted by Anonymous (not verified) on Mon, 08/09/2021 - 10:08

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. 

Boise MSA Office Market Demonstrates Strong Absorption Despite Increased Vacancy

Submitted by Anonymous (not verified) on Fri, 05/14/2021 - 11:05

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.

Retail 2021 Trends — New Construction, New to Boise Tenants, & Tenant Expansion

Submitted by Anonymous (not verified) on Mon, 03/29/2021 - 05:03

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.

Buyers Outweigh Listings in the Boise Investment Market

Submitted by Anonymous (not verified) on Mon, 03/15/2021 - 10:03

Despite the economic conditions the pandemic created both locally and nationally, Boise’s Investment market ended 2020 with the third strongest transaction volume on record. In addition, the number of off-market deals continues to increase, highlighting that the true value is undoubtedly higher than the year-end investment transaction total of $574 million. Many offerings do not make it to market in this environment where the number of buyers far outweighs the number of listings available.

Industrial & Housing Demands Drive Land Sales, With Development Expected to Increase in 2021

Submitted by Anonymous (not verified) on Thu, 03/11/2021 - 05:03

Like most sectors, the uncertainty at the onset of the pandemic resulted in a brief slowdown for the commercial land market in early 2020, however, the sector picked back up in the latter half resulting in a year-end total of 345 acres sold and a total consideration of over $68 million.

2020 was a Record-Breaking Year for Industrial, 2021 is Projected to Continue the Trend

Submitted by Anonymous (not verified) on Thu, 02/25/2021 - 09:02

The industrial market had another banner year in 2020, ending the year with record-breaking absorption, construction, and total number of transactions. The most notable project of the year was the 2.6 million square foot Amazon Distribution Center in Nampa, making the company a dominant player in the local industrial market and ultimately creating more economic growth throughout the Treasure Valley.

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