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Boise named one of the safest cities...in the world!

MSN recently produced an article detailing the 50 safest cities in the world. They used data that was mined by Numbeo in order to find vacation spots where you're least likely to encounter crime. Nobody wants to have their pocket picked on vacation! Those of us living in Boise are not surprised at all by their findings.  
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Commercial Real Estate Update for October

Total office vacancy decreased from 9.0% to 8.9% in September. Multitenant vacancy remained flat at 13.3%. 
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Meridian recognized by TIME magazine as one of the Top US Cities

Meridian, Idaho is ranked 48th in the Top 100 US Cities by TIME magazine. It joined the likes of Beaverton, OR (#12), Santa Monica, CA (#18) and Grapevine, TX (#19), to name a few. It came in 9th place in the West Region.
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Commercial Real Estate Update for September

Total office vacancy remained flat at 9.0% in August. Multitenant vacancy decreased from 13.7% to 13.4%. 
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Land market outlook for the Boise MSA

Canyon County will continue to see an uptick in sales and development for both commercial and residential land. Large industrial properties have become scarce in Ada County, and many large industrial users, such as Fresca Foods and Capitol Distributing, are moving to Caldwell to expand. Sky Ranch Business Park in Caldwell is an area that has benefited from a lack of product in Ada County.
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Boise investment volume near record high

Transaction volume is off to a strong start in 2017, already approaching 2016’s total. The number of investment sales is up nearly 50 percent from this time last year. A contributing factor to this boost in sales has been an increase in 1031 buyers. They are accounting for a greater portion of transactions and are highly motivated to close on new acquisitions to avoid paying capital gains tax.
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Big box retail vacancies see activity in the first half of 2017

Vacancy reached its highest point in over five years this April at 9.5 percent, but dropped to 8.6 percent due to a few large vacancies being filled. Most of these transactions involved strong regional retailers: Albertsons announced they will occupy the former Shopko space in Meridian and D&B Supply leased the former Hastings/Sports Authority at Eastgate Shopping Center. Over 55,000 square feet will be occupied by multiple retailers, including Ace Hardware, in a former KMart at Fairview & Five Mile. Other vacancies were filled by new tenants to the market, including CircusTrix and Fly High Trampoline Park.
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Industrial lease rates expected to rise in Boise MSA

Lease rates must continue their steady increase to support new development. Rent increases which have traditionally averaged 3 percent per year are expected to increase even further for the near future, especially on small spaces. Due to the tight market, concessions such as free rent will also be limited. Tenants must be flexible in this market and be prepared to compromise on everything from location to size.
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Commercial Real Estate Update for August

Total office vacancy decreased from 9.2% to 9.0% in July. Multitenant vacancy decreased from 14.3% to 13.7%.
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Office Outlook: Construction will remain strong

Construction activity is expected to increase in the second half of the year primarily due to new construction that will be delivered at the Ten Mile interchange. AmeriBen/IEC will occupy a new 76,000 square foot office, the first building at Ten Mile Crossing. Read the rest of entry »