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Multifamily sales lead investment market in Boise

Over the past 12 months, multifamily sales have accounted for 36% of all investment deals. There has been over $80M in apartment transactions over the past year, representing the sale of over 1,100 units in the Boise MSA. Cap rates for multifamily product in Boise have declined in 2015 and are currently 6.1%. Read the rest of entry »

Commercial Real Estate Update for October

Office update

  • When Drake Cooper leased 6,200 SF at Bodo in Downtown Boise, vacancy continued to decrease to 7.5%.
  • Vacancy in West Boise decreased to its lowest point since the recession (12.6%) as 5,300 SF leased to the Department of Health and Welfare in Westgate Plaza.
  • A design firm vacated 11,600 SF on Owyhee Street in the Central Boise submarket, causing vacancy to rise to 13.4%.
  • Vacancy in South Meridian decreased to 10.3% when AECOM-URS leased 17,100 SF in the Silverstone Plaza on Overland Road.
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How big is four million square feet?

Answer: Big, REALLY big. To put that in perspective, the Boeing Plant in Everett, Washington is 4,300,000 square feet. Merchandise Mart in Chicago is 4,000,000 square feet. Read the rest of entry »

Heartland RV to occupy 248,100 SF in Nampa

Heartland RV recently announced that it is coming to Nampa and bringing hundreds of jobs with it. Heartland expects to be operational in the first quarter of 2016 and will employ 120 people at that time. Within three years, employment is likely to hit around 275 employees. Read the rest of entry »