What's in store for the Boise office market?

BOISE, Idaho - Aug. 18, 2015 - PRLog -- "Vacancy rates will likely decline through the end of 2015 as the market continues to rebound. Absorption will remain strong and comparable to the past four years. Lease rates, particularly in Class A buildings, will increase due to strong demand.

Downtown is bracing for the delivery of the 206,000 square foot City Center Plaza, slated to arrive in 2016. The nine-story office tower has been pre-leased with most space to be occupied by Clearwater Analytics and Boise State University. Although City Center Plaza will be nearly 100 percent occupied at delivery, there will be ripple effects due to other spaces being vacated by these tenants. Another downtown project slated for completion in 2016 is the Simplot headquarters located at 9th & Front Streets. Simplot will vacate over 100,000 square feet in One Capital Center and will consolidate some operations throughout the valley.

Speculative construction of small office buildings had dried up entirely over the past five years. However, tenants are beginning to show an appetite for this product again. Developers of projects in well-located areas, close to the freeway, will continue to build one or two spec buildings at a time, aiming to meet this increase in demand."