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Office Market: A look back at 2013

Although office net absorption was the lowest it has been since 2010, transaction volume was up 25 percent from 2012. Most activity was the result of tenants moving within the market, with limited expansion and growth from companies outside Boise. While there was 442,000 square feet of positive net absorption for the year, much of this stemmed from a single 168,000 square foot lease in West Boise.

Projected office supply is over two years, higher than both the retail and industrial sectors. However, certain pockets of the market have tightened. Supply is limited for Class A space in Eagle and in business parks at Eagle & Overland. Conversely, large spaces that were difficult to find a year ago have seen a significant increase in supply, primarily in Downtown, Southeast Boise, and Meridian.

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Boise lands on Forbes Top List to Retire

The City of Trees made it onto Forbes Top List to Retire in 2014 earlier this month. Forbes considered 400 cities from every state when building its list and looked at factors such as cost of living, home prices, state tax climates for retirees, local unemployment rates, climate and medical care options. Read the rest of entry »

Commercial Real Estate Review for December

Total office vacancy declined from 12.7% to 12.2% in December. Multitenant vacancy also declined from 18.1% to 17.9%. The 60,000 SF former HP data center leased to Data Site, dropping vacancy in the West Boise submarket 150 basis points to 14.1%. Read the rest of entry »