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Category: Industrial Real Estate

Industrial Real Estate

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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Industrial Market posts record breaking year

2016 was a record-breaking year for the Industrial Market, ending with 1,164,000 square feet of positive net absorption, higher than seen at the peak in 2006. Caldwell saw the highest absorption of 341,300 square feet, driven largely by the completion of Gayle Manufacturing’s new 166,200 square foot warehouse.
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Looking for industrial space in Boise? Better get in line.

Tenants and buyers will face a tighter market in 2016. Vacancy will likely decline, however it will not be as pronounced as in 2015. The continued rebound of the market will make it difficult for growing companies to find available space that fits all of their needs. They will likely face compromises in terms of higher rent, location, or functionality.
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Heartland RV to occupy 248,100 SF in Nampa

Heartland RV recently announced that it is coming to Nampa and bringing hundreds of jobs with it. Heartland expects to be operational in the first quarter of 2016 and will employ 120 people at that time. Within three years, employment is likely to hit around 275 employees. Read the rest of entry »

What's in store for the Boise industrial market?

As the market continues to tighten and new product is delivered, lease rates will steadily climb. Speculative construction will pick up steam in the second half of the year with 26,000 square feet delivering on South Cole Road and 41,000 square feet soon to be available near Franklin & Linder in Meridian.
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Industrial vacancy in Meridian hits a 4 year high

When Plum Creek Timber closed operations of their plant in Meridian, 61 local workers lost their jobs. On top of the job market impact, 175,200 square feet of industrial vacancy came on the market with the Plum Creek closure. This accounts for nearly 55% of the vacant square footage available in Meridian currently. As a result, vacancy for the Meridian submarket jumped from 4.1% to 7.6% in April. Read the rest of entry »

Industrial product is getting scarce in Boise

2009 marked the peak of the recession for the Boise MSA industrial market. The year ended with -67,000 SF of absorption, much better than the office market (-413,000 SF) and the retail market (-362,000 SF). But the story behind industrial's absorption number is that without the delivery of WinCo's new 713,000 SF distribution facility, absorption for 2009 would have been -780,000 SF. Read the rest of entry »

GoGo squeeZ to bring 230 new jobs to Nampa

GoGo squeeZ, a food processing plant specializing in on-the-go applesauce, has announced plans to bring 230 jobs to Nampa. GoGo squeeZ has purchased the 338,000 square foot former MPC Facility located at 906 Karcher Road. They plan to invest $85 million in the new food processing facility. Read the rest of entry »

Industrial Market: A look back at 2013

Despite a slow start in 2013, net absorption more than doubled in the latter half of the year. There was 695,000 square feet of positive net absorption in 2013, the most since 2006—a banner year for Boise’s Industrial market. Transaction volume was up nearly 10 percent from 2012 and vacancy steadily declined, falling to 8.2 percent, its lowest point since 2008. Read the rest of entry »

Canyon County: A look back at the first half of 2013

Overall office vacancy in Canyon County has increased from 13.4 percent to 13.8 percent midway through 2013. However, multitenant vacancy improved from 22.1 percent to 21.3 percent. There is limited Class A space in Canyon County with vacancy in these buildings at just 4 percent. Read the rest of entry »