Office Update
  • Total vacancy decreased from 9.5% to 9.2% in June. Multitenant vacancy increased from 14.0% to 14.3%. 
  • Micron leased 69,500 SF on Federal Way decreasing vacancy to 9.1% in Southeast Boise.
  • Broadview University closed its 31,200 SF campus in South Meridian increasing vacancy to 11.1%.
  • Primary Health announced they will refit the former 6,900 SF Discount Tire in the Idaho Center submarket where vacancy is now 12.5%.
  • Vacancy in Meridian decreased to 4.2%, the lowest level on record.

Industrial Update

  • Overall vacancy increased from 3.5% to 3.7% in June. Multitenant vacancy increased from 8.0% to 9.0%. 
  • PODS and Chipman Moving leased space at the newly constructed 52,500 SF Beechcraft Building in the Airport submarket where vacancy is 4.6%.
  • Construction completed on a 60,000 SF spec building in Caldwell where vacancy is 6.1%.
  • Trailmax Trailers moved to their new 40,000 SF building in Caldwell increasing Caldwell's YTD net absorption to 116,400 SF.
  • Vacancy in Meridian decreased to its lowest rate in nearly a decade at just 2.1%.

Retail Update
  • Total vacancy decreased from 9.5% to 8.6% in June. Unanchored vacancy increased from 12.2% to 12.3%. 
  • Albertsons announced it will lease the former 109,800 SF Shopko at Meridian Crossroads, decreasing vacancy in Meridian to 5.9%.
  • Ace Hardware leased 17,900 SF at the Midvalley Shopping Center in West Boise, where vacancy decreased to 7.3%.
  • Fly High Trampoline Park leased 22,100 SF in West Boise where there has been 87,300 SF of net absorption this year.
  • Vacancy in Southeast Boise fell to 9.6%, largely due to D&B Supply leasing 36,500 SF at the Eastgate Shopping Center.