With no large developments slated for completion in the second half of 2015, vacancy will tighten and absorption will remain positive. Retail centers with high traffic counts and good visibility will see lease rates rise.
"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.
Office Review Total vacancy decreased from 11.9% to 11.6% in November. Multitenant vacancy decreased from 18.6% to 18.4%. Vacancy in Southeast Boise decreased for the fourth consecutive month to 10.9%.
Office Review Total vacancy decreased slightly from 12.0% to 11.9% in October while Multitenant vacancy decreased from 19.1% to 18.6%. Vacancy in Downtown Boise decreased for the third consecutive month to 8.1%.
Office Review Total vacancy increased from 12.5% to 12.6% in January. Multi-tenant vacancy also rose from 17.9% to 18.3%. A call center vacated 8,500 SF on Cleveland Blvd causing vacancy in Caldwell to rise 200 basis points to 14.6%.