Commercial Real Estate Update for April
- Total vacancy decreased from 9.8% to 9.6% in March. Multitenant vacancy decreased from 14.5% to 14.4%.
- ClickBank & Truckstop.com leased 19,700 SF at Stevens Henager Building, decreasing vacancy in Southwest Boise to 6.9%.
- St. Alphonsus leased 7,000 SF at Emerald Station in West Boise where vacancy is 11.6%.
- Central Boise (12.6%) vacancy reached its lowest point in over a year.
- Vacancy in the Idaho Center submarket decreased for the third consecutive month (17.2%).
- Overall vacancy decreased from 4.0% to 3.7% in March. Multitenant vacancy decreased from 8.6% to 8.5%.
- Overall vacancy decreased for the third consecutive month, setting a new record low of 3.7%.
- BBG Ventures leased 39,900 SF in South Nampa decreasing vacancy to 3.4%.
- 30,500 SF was purchased by Xanadu Holdings in Central Boise where vacancy fell to 3.7%.
- Vacancy in the Airport submarket reached 4.9%, the lowest it has been since 2015.
- Total vacancy increased from 8.3% to 9.3% in March. Unanchored vacancy increased from 11.9% to 12.7%.
- Macy's (103,600 SF) closed, while WinCo (85,000 SF) opened a new location, in the Idaho Center submarket, increasing vacancy to 29.4%.
- Shopko closed its 110,000 SF store at Eagle and Fairview increasing vacancy in Meridian to 8.5%.
- 4 Wheel Parts leased 9,100 SF in West Boise where vacancy decreased for the fourth consecutive month (8.4%).
- Vacancy in South Nampa decreased to 11.2%, partly due to Pathways Management Group leasing 8,100 SF at Holly Plaza.
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