Office Update
  • Total vacancy decreased from 9.2% to 9.0% in July. Multitenant vacancy decreased from 14.3% to 13.7%. 
  • US Ecology is moving to US Bank Plaza in Downtown, where vacancy decreased to 7.8%.
  • 12,300 SF was vacated at University Plaza in Southeast Boise increasing vacancy to 9.6%.
  • Vacancy in the Southwest submarket fell to 6.5%, the lowest point since 2007.
  • Fast LP leased 5,700 SF in the West submarket, where vacancy reached a 10-year low at 11.2%.

Industrial Update

  • Overall vacancy increased from 3.7% to 4.1% in July. Multitenant vacancy increased from 9.0% to 9.6%. 
  • Bish's RV completed construction on their new 53,400 SF facility in South Meridian, where vacancy is 18.6%.
  • Vacancy in Meridian submarket reached an all-time low of 1.8%.
  • Construction completed on an 8,200 SF building on Newby Street in Nampa, where vacancy is 5.4%.
  • July was the first month in over a year to see negative net absorption.

Retail Update
  • Total vacancy decreased from 8.6% to 8.5% in July. Unanchored vacancy decreased from 12.3% to 12.0%. 
  • Dead On Archery leased 8,200 SF at Midvalley Shopping Center in West Boise decreasing vacancy to its lowest point this year, 7.1%.
  • Total vacancy declined for the 3rd consecutive month, decreasing from 9.5% to 8.5% since April.
  • Thriftology leased 7,800 SF in the Central submarket where vacancy fell to 9.2%.
  • Vacancy in Meridian decreased to 5.6%, the lowest point since 2012.