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Economic Outlook by Dr. Brian Greber of Boise State University

The first half of 2013 came in like a lion, albeit a tame one, but it’s going out like a lamb. By Q1 2013, the economy had forgotten its election-year stall and we found ourselves on the road to recovery. The threat, however, that the Federal Reserve would relax quantitative easing jeopardizes that recovery. Read the rest of entry »

Canyon County: A look back at the first half of 2013

Overall office vacancy in Canyon County has increased from 13.4 percent to 13.8 percent midway through 2013. However, multitenant vacancy improved from 22.1 percent to 21.3 percent. There is limited Class A space in Canyon County with vacancy in these buildings at just 4 percent. Read the rest of entry »

Land Market: A look back at the first half of 2013

Commercial land activity has increased in 2013 and the buyers are still primarily end users. While commercial occupancy rates have improved, lease rates are still 20 percent below pre-recession levels. As a result, purchasing land for speculative development remains mostly on hold.

As sale activity has steadily increased, land values have risen in all sectors. Retail land saw a modest increase of 4 percent, while industrial land values are up 10 percent over last year. However, increasing construction costs may put a damper on this recovery. With the cost of materials and labor going up, developers will look to make up the difference by offering less for their land acquisitions.

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Investment Market: A look back at the first half of 2013

Transaction volume in the first half of 2013 has already surpassed 2012’s total and is on pace for its strongest year since 2008. The gap between buyer and seller expectations has narrowed, leading to increased sales activity. However, uncertainty continues to suppress activity. Buyers remain risk averse, primarily seeking stabilized assets with strong market fundamentals. Read the rest of entry »

Retail Market: A look back at the first half of 2013

Absorption was flat in the first half of 2013, but transaction volume remained healthy. Net absorption should improve in the second half of the year as construction is completed on a new Walmart on Overland near Meridian Road and at The Village at Meridian, where a movie theater and numerous restaurants will open in the coming months. Read the rest of entry »