Office Update
  • Total vacancy increased from 8.9% to 9.2% in October. Multitenant vacancy increased from 13.3% to 13.7%. 
  • Vacancy in the Southwest submarket has decreased for the fifth consecutive month, reaching 6.0% in October.
  • Construction completed on a new 18,500 SF office building in South Meridian where vacancy is 14.1%.
  • Pathways of Idaho leased 7,100 SF in West Boise where vacancy is 10.9%.
  • The Idaho Center submarket has had 45,100 SF of net absorption in 2017, the highest among Canyon County submarkets.

Industrial Update

  • Overall vacancy decreased from 3.9% to 3.8% in October. Multitenant vacancy increased from 8.4% to 8.7%. 
  • Fleetpride leased 17,000 SF at Federal Way Commerce Center in Southeast Boise decreasing vacancy to an all-time low of 0.8%.
  • Two vacant buildings, totaling 44,300 SF, sold to users in West Boise decreasing vacancy in the submarket to 2.7%.
  • The Meridian and Caldwell Blvd submarkets reached all-time low vacancy rates in October at 1.7% and 1.6%, respectively.
  • Construction completed on a 17,000 SF spec building in Caldwell where vacancy is 7.1%.

Retail Update
  • Total vacancy decreased from 8.3% to 8.0% in October. Unanchored vacancy increased from 12.2% to 12.3%. 
  • CSL Plasma leased 12,000 SF at Cole Village Shopping Center in West Boise (7.3%).
  • Vacancy in Eagle fell to 7.6%, the lowest point since 2008.
  • 10,100 SF was vacated at Hillcrest Shopping Center in Central Boise increasing vacancy to 9.1%.
  • Overall vacancy has decreased for a fifth consecutive month and is now at 8.0%.