Commercial Real Estate Update for March
- 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%
- 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%, it's lowest point since April 2007.
- 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.
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