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Big box retail vacancies see activity in the first half of 2017

Vacancy reached its highest point in over five years this April at 9.5 percent, but dropped to 8.6 percent due to a few large vacancies being filled. Most of these transactions involved strong regional retailers: Albertsons announced they will occupy the former Shopko space in Meridian and D&B Supply leased the former Hastings/Sports Authority at Eastgate Shopping Center. Over 55,000 square feet will be occupied by multiple retailers, including Ace Hardware, in a former KMart at Fairview & Five Mile. Other vacancies were filled by new tenants to the market, including CircusTrix and Fly High Trampoline Park.
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Industrial lease rates expected to rise in Boise MSA

Lease rates must continue their steady increase to support new development. Rent increases which have traditionally averaged 3 percent per year are expected to increase even further for the near future, especially on small spaces. Due to the tight market, concessions such as free rent will also be limited. Tenants must be flexible in this market and be prepared to compromise on everything from location to size.
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Commercial Real Estate Update for August

Total office vacancy decreased from 9.2% to 9.0% in July. Multitenant vacancy decreased from 14.3% to 13.7%.
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Office Outlook: Construction will remain strong

Construction activity is expected to increase in the second half of the year primarily due to new construction that will be delivered at the Ten Mile interchange. AmeriBen/IEC will occupy a new 76,000 square foot office, the first building at Ten Mile Crossing. Read the rest of entry »