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Industrial vacancy in Meridian hits a 4 year high

When Plum Creek Timber closed operations of their plant in Meridian, 61 local workers lost their jobs. On top of the job market impact, 175,200 square feet of industrial vacancy came on the market with the Plum Creek closure. This accounts for nearly 55% of the vacant square footage available in Meridian currently. As a result, vacancy for the Meridian submarket jumped from 4.1% to 7.6% in April. Read the rest of entry »

Did College of Western Idaho overpay for the West End property?

Last month, the College of Western Idaho entered into a purchase agreement for 10 acres at the corner of Whitewater Park Boulevard and Main Street in Boise's West End. The question on everyone's minds now is did they overpay for the site? The dilemma comes from the vast difference between the property's assessed value of $3.6 million and the purchase price of $8.8 million. The college has been criticized for not ordering a property appraisal prior to entering into the purchase and sale agreement. Read the rest of entry »

Thornton Oliver Keller joins the Retail Brokers Network

Thornton Oliver Keller has joined the Retail Brokers Network, a networking group made up of 65 independent offices in 48 states. Member of the Retail Brokers Network, or RBN, have completed $4.4 Billion in total leasing consideration in the past 2 years. RBN was founded in 1992 and has become one of the fastest growing commercial real estate networks, representing over 600 retail specialists in North America. Read the rest of entry »

TOK partners with Idaho Food Bank for the month of April

Did you know that April is National Volunteer Month? While volunteering may not be as fun as Scrabble Day (April 13th), or as liberating as No Housework Day (April 7th), or even as delicious as National Jelly Bean Day (April 22nd), it still deserves to be celebrated and taken part in. At least that's what we think at Thornton Oliver Keller. To show our volunteer spirit, TOK has been challenged to participate in the inaugural Idaho Food Bank Corporate Challenge for the month of April. Read the rest of entry »

Would you lease space for $50 per square foot in Boise? & Facebook just did. It must be said, right off the bat, that these deals did not occur in Boise. These two online giants just leased a combined 1.1 million square feet of Class A office space in Seattle. The asking rates for the buildings leased were roughly $32-$38 per square foot, and that doesn't even include the building's triple nets (NNNs). Read the rest of entry »

Boise: #1 on Forbes for where the jobs will be this spring

Job seekers looking for work in the next 3-6 months should look here in Boise, according to Forbes. The Manpower Group, a staffing giant based out of Milwaukee, ranked Boise as the top spot to find spring work. The net employment outlook for Boise is 32%. This means that 32% of the companies polled by Manpower group in Boise responded that they planned to hire more staff in the coming months. Manpower polled a total of 18,000 employers in 100 metropolitan areas to come up with each area's net employment outlook. Read the rest of entry »

A transformation in brick and mortar stores

Predictions of the demise of commercial real estate have existed since Ebay and Amazon pioneered e-commerce in the mid 1990s. To say that bricks and mortar stores are nearing obsolescence would be shortsighted and incorrect. Conversely, to state that today’s falling vacancy rates signify the industry’s immunity to the broad changes occurring in retailing would be equally incorrect. The reality today is a complicated and evolving story of the industry whereby competition, technology and market forces are combining to accelerate changing requirements in commercial retail real estate. Read the rest of entry »

Pending single family home sales up 24% over 2014

Inventory is dropping and prices are increasing steadily…the outlook for 2015 is good. January 2015 was another solid month for the Boise Real Estate Market with all the major indices headed in the right direction or at least remaining fairly stable within the “healthy” zone.  While sales volume was flat compared to a year ago, pending sales, an indicator of future closings, were up 24.3%.
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TOK recognized as a top small business IN THE NATION!

The US Chamber of Commerce has selected Thornton Oliver Keller as a Blue Ribbon Small Business Award winner. TOK is one of only 100 small businesses in the nation selected for this honor. The award is given based on TOK's demonstration of exceptional business practices in strategic planning, employee development, community involvement, and customer service. Read the rest of entry »

Industrial product is getting scarce in Boise

2009 marked the peak of the recession for the Boise MSA industrial market. The year ended with -67,000 SF of absorption, much better than the office market (-413,000 SF) and the retail market (-362,000 SF). But the story behind industrial's absorption number is that without the delivery of WinCo's new 713,000 SF distribution facility, absorption for 2009 would have been -780,000 SF. Read the rest of entry »