Commercial Real Estate Update for March 2017

BOISE, Idaho - March 22, 2017 - PRLog -- Office Update

• Total vacancy decreased from 9.9% to 9.8% in February. Multitenant vacancy decreased from 14.6% to 14.5%.
• A 13,700 SF office building was purchased in Eagle dropping vacancy to 4.9%, the lowest point in over 10 years.
• Vacancy in North Boise increased for the third consecutive month to 18.1%, the highest it has been since May 2012.
• The Plaza 7 Building (29,000 SF) sold in West Boise where vacancy is 11.5%.
• Stellar Mental Health leased 5,000 SF in Nampa, dropping vacancy for the fifth consecutive month to 9.7%

Industrial Update

• Overall vacancy decreased from 4.3% to 4.0% in February. Multitenant vacancy decreased from 9.6% to 8.6%.
• HM Clause leased 20,200 SF in Nampa where vacancy is 4.5%.
• AceCo leased 9,800 SF in Southeast Boise decreasing vacancy to 1.0%, its lowest point on record.
• Conklin Properties purchases a 10,000 SF building on Amity Road in the Airport submarket where vacancy is 4.9%.
• Vacancy is Southwest Boise reached 4.8%, its lowest point since April 2007.

Retail Update

• Total vacancy remained flat at 8.3% in February. Unanchored vacancy increased from 11.1% to 11.9%.
• Construction completed (10,600 SF) on two spec buildings at Eagle Island Crossing in Eagle where vacancy is 9.1%.
• Kidz Again leased 20,000 SF at Fairview Lakes in Meridian where vacancy decreased for the third consecutive month (5.9%).
• The Idaho Youth Ranch, Johnny's Fit Club and Vector Church leased a total of 36,600 SF at Midvalley Shopping Center in West Boise (8.6%).
• Vacancy in South Nampa increased for the fourth consecutive month to 12.3%, the highest it has been in over 5 years.