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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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Higher interest rates do not always equal higher cap rates

According to an article published on www.costar.com, higher interest rates should no automatically signal to investors to look for higher cap rates and lower property values. With The Fed bumping rates up .25% earlier this month, there has been theorizing that increased interest rates mean cap rates will soon follow. In many cycles, that is indeed the case - though it's a delayed response by the market and not instantaneous. Read the rest of entry »

Land Outlook for the Boise MSA

Sales of ready-to-build commercial lots will remain strong in 2017 as some tenants opt out of leasing space in a tight market. This trend is especially apparent in the Industrial market where vacancy is below 5 percent and much of the remaining space is functionally obsolete.
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Retail Outlook for the Boise MSA

Online shopping will continue to have a direct impact on the use of retail real estate. Online sales for Cyber Monday set a record in 2016 as more opt to shop from home. Big box closures will continue into 2017 with Sears at the Boise Towne Square, Macy’s at Nampa Gateway Center, and Shopko at Eagle & Fairview.
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Investment market outlook for the Boise MSA

The pool of buyers looking for quality investment product is deep, however, these offerings are in short supply. Demand for such assets will remain strong in the second half of the year, especially since many listings hitting the market today are more stable investments than were seen during the boom. Investments today are typically leased by tenants who are locked into true market lease rates, rather than inflated rates seen before the Great Recession.
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Can Pokemon Go help sell commercial real estate?

Whether you've hopped on the Pokemon Go bandwagon or not, there's no denying it's meteoric rise in popularity. With over 100 million downloads of the app to date, many of your friends and co-workers could be secret (or not so secret) Pokemon Go fans right now. Read the rest of entry »

New development may be coming to downtown Idaho Falls

According to the Idaho Business Review, the Oppenheimer Development Corp. is looking to partner with the Idaho Falls Redevelopment Agency to build a new multi-use development in downtown Idaho Falls. The subject property is located on a .95 acre lot at the intersection of Broadway & Memorial Drive. Read the rest of entry »

Idaho leads the nation in job growth

The US has seen unprecedented job growth since the bottom of the Great Recession when unemployment peaked nationally at 10 percent. Currently, the national unemployment rate has improved to 4.7 percent. Here in Idaho, it's just 3.7 percent. Read the rest of entry »

Idaho leads the nation in job growth

The US Bureau of Labor Statistics shows that the US economy is growing at roughly 2 percent per year. Idaho leads the country with a 4 percent growth rate, with over 25,000 new jobs created in the past 12 months. Idaho's unemployment rate is among the lowest in the nation as a result. Currently the unemployment rate is 3.9 percent. Read the rest of entry »

FBI expansion in Pocatello to bring in hundreds of jobs

The Federal Bureau of Investigation plans to expand their presence in Pocatello, adding up to 300 new jobs. The expansion will be a $10 million facility, totaling nearly 100,000 square feet. Development of this expansion is set to start the summer of 2016 and will be completed next spring. Read the rest of entry »
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