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Retail Outlook for the Boise MSA

Online shopping will continue to have a direct impact on the use of retail real estate. Online sales for Cyber Monday set a record in 2016 as more opt to shop from home. Big box closures will continue into 2017 with Sears at the Boise Towne Square, Macy’s at Nampa Gateway Center, and Shopko at Eagle & Fairview.
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Commercial Real Estate Update for February

Total office vacancy increased slightly from 9.8% to 9.9% in January. Multitenant vacancy remained flat at 14.6%.
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Office Market Outlook for the Boise MSA

Recently completed projects are expected to have an impact on increasing lease rates in 2017, particularly in Downtown Boise. In order to compete with the new Class A product, some landlords are investing in renovations for their buildings. Concessions in the form of free rent will continue to decline with the rising cost of tenant improvements. Read the rest of entry »

Industrial Market posts record breaking year

2016 was a record-breaking year for the Industrial Market, ending with 1,164,000 square feet of positive net absorption, higher than seen at the peak in 2006. Caldwell saw the highest absorption of 341,300 square feet, driven largely by the completion of Gayle Manufacturing’s new 166,200 square foot warehouse.
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Investment Outlook for Boise in 2017

Demand for investment product is expected to remain strong in 2017. Buyers planning on a 1031 exchange may elect to put a replacement property under contract prior to marketing their current holding. This will lead to creative structuring of offers so that enough time is given to sell their current property and close on the replacement property. If 1031 exchange properties cannot be identified, investors may elect to sell while values are high and pay capital gains taxes.
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