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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 »