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What's in store for the Boise retail market?

With no large developments slated for completion in the second half of 2015, vacancy will tighten and absorption will remain positive. Retail centers with high traffic counts and good visibility will see lease rates rise. Properties with longstanding vacancies should continue to see suppressed rents.
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What's in store for the Boise office market?

Downtown is bracing for the delivery of the 206,000 square foot City Center Plaza, slated to arrive in 2016. The nine-story office tower has been pre-leased with most space to be occupied by Clearwater Analytics and Boise State University. Although City Center Plaza will be nearly 100 percent occupied at delivery, there will likely be ripple effects due to other spaces being vacated by these tenants. Another downtown project slated for completion in 2016 is the Simplot headquarters located at 9th & Front Streets. Simplot will vacate over 100,000 square feet in One Capital Center and will consolidate some operations throughout the valley.
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Interest rates are beginning to rise for commercial real estate

Talk of interest rate hikes has been prevalent in recent years, and is now likely according to many economists. The Fed signaled on July 29, 2015 that it remains on course to raise interest rates this September. A slight increase is unlikely to cause a significant slowdown in commercial transaction volume, but it will persuade investors to be even more particular about the product they purchase. New opportunities could arise for buyers as some existing owners elect to sell at the first sign of an increase. Read the rest of entry »