Office Update
  • Total vacancy decreased from 9.0% to 8.9% in September. Multitenant vacancy remained flat at 13.3%. 
  • Overall vacancy declined for a fifth consecutive month to 8.9%, its lowest point since 2005.
  • Track Utilities leased 5,000 SF in Meridian, dropping vacancy to its lowest recorded point (3.4%).
  • A 5,700 SF speculative office building completed construction in West Boise (10.7%).
  • Vacancy in the Eagle submarket continues to drop. After a third monthly decline, vacancy is just 4.5%.

Industrial Update

  • Overall vacancy decreased from 4.4% to 3.9% in September. Multitenant vacancy decreased from 10.1% to 8.4%. 
  • 90,000 SF was leased to Concordance Healthcare in Caldwell Blvd where vacancy is just 1.8%.
  • Central Boise vacancy declined to 3.3%, its lowest point in over 10 years.
  • Forage Genetics leased 70,000 SF in the Interstate Center Building in Nampa.
  • Two tenants leased a combined 5,200 SF at Pioneer Business Center in Meridian where vacancy is 1.8%.

Retail Update
  • Total vacancy decreased from 8.4% to 8.3% in September. Unanchored vacancy increased from 12.1% to 12.2%. 
  • The former Hasting’s at Country Square Shopping Center leased to Trade Viet, dropping vacancy in Southwest Boise to under 5%.
  • Boise Barber College moved from Cole & Ustick to Boise Spectrum, leasing 9,700 SF.
  • Vacancy in Central Boise declined to 8.3% when Back 9 Indoor Golf leased 6,900 SF at Overland Park Center.
  • Vacancy in South Nampa increased to 10.6%, when a medical user moved out of 6,600 SF in Dallan Woods.