Office Update
  • Total vacancy stayed flat at 8.8% in January. Multitenant vacancy decreased from 13.5% to 13.4%. 
  • The Idaho Center for Reproductive Medicine moved into a newly constructed building in Southeast Boise where vacancy is 11.4%.
  • A new veterinary clinic announced they will be opening on Fairview Avenue in West Boise where vacancy is 10.9%.
  • Vacancy in Downtown Boise decreased for the third consecutive month reaching 6.6%, the lowest rate since 2015.
  • Construction completed on Treasure Valley Station, a new 7,700 SF office building in Nampa.

Industrial Update

  • Overall vacancy decreased from 3.5% to 3.3% in January. Multitenant vacancy decreased from 8.8% to 8.1%. 
  • 60,000 SF leased to a company new to the Treasure Valley, Chep Products, in Caldwell where vacancy is 5.7%.
  • Overall vacancy fell to 3.3% hitting the lowest point in over 15 years.
  • An industrial tenant vacated 20,000 SF on Liberty Street in Southwest Boise where vacancy is 3.5%.
  • 15,600 SF leased to Ferguson Enterprises in Idaho Center where vacancy is 7.7%.

Retail Update
  • Total vacancy decreased from 8.3% to 8.1% in January. Unanchored vacancy decreased from 12.4% to 12.1%. 
  • Zurchers opened their first Nampa location in the former Hasting's at Canyon Plaza Shop Center (22,500 SF).
  • South Meridian total vacancy declined to 4.6%, the lowest point on record.
  • Cost Plus World Market vacated 18,500 SF at Treasure Valley Marketplace in the Caldwell Blvd submarket (6.8%).
  • Johnny's Fitclub leased an additional 12,000 SF location at Cottonwood Plaza in the North submarket, where vacancy is 8.2%.