Treasure Valley Rossiter Leases Space in 7660 N Horseshoe Bend Rd
Treasure Valley Rossiter LLC leased 1,250 square feet of office space located at 7660 N Horseshoe Bend Road in Boise. JP Green of TOK Commercial facilitated the transaction.
SCHEELS ALL SPORTS Leases Space in Advantage Building
SCHEELS ALL SPORTS, Inc. leased 14,244 square feet of office space in Advantage Building located at 12426 W. Explorer Drive in Boise. Patrick Shalz of TOK Commercial facilitated the transaction.
Olsen RE Holdings Purchased Land at Jordan Lee St
Olsen RE Holdings, LLC purchased an office pad at Jordan Lee Street in Nampa. Mike Greene, Nick Schuitemaker, and Peter Oliver of TOK Commercial facilitated the transaction.
Prana Counseling & Counseling Leased Space at 1323-1325 E. Ammon Park Dr
Prana Counseling & Sage Counseling leased 1,200 square feet of office space located at 1323-1325 E. Ammon Park Drive in Idaho Falls. Nick Terry of TOK Commercial facilitated the transaction.
Yellowstone Grand Prix Leases Space at 1869 N. Yellowstone Hwy
D4D Inc. DBA Yellowstone Grand Prix leased 950 square feet of office space located at 1869 N. Yellowstone Hwy in Idaho Falls. Nick Terry of TOK Commercial facilitated this transaction.
Q3 Office Market Report
What are the current office sublease market trends in the Boise Valley?
Office sublease space has increased 50% from Q1 2022. The Boise MSA currently has 626,000 SF of office sublease space on the market. Meridian and Downtown Boise submarkets both have approximately 650,000 SF of office lease and sublease space available.
2667 E. Gala Court Purchased by Jacksonia Corporation
Jacksonia Corporation purchased a 10,000 square foot, 100% leased, Class A office building located at 2667 E. Gala Court in Meridian. John Stevens of TOK Commercial facilitated the transaction for the buyer and seller.
Office Net Absorption Outpaces 2020, Midway Through the Year
Transaction volume picked up significantly in the second quarter, with an increase of over 50 percent in the amount of office square footage absorbed. Midway through the year, net absorption in the Office market already outpaced the amount seen at the end of 2020. Meridian and Downtown Boise have had the most net absorption occur, 192,000 square feet and 105,000 square feet, respectively. Projected supply for Meridian, the market’s second-largest submarket, is currently 10 months.
Boise MSA Office Market Demonstrates Strong Absorption Despite Increased Vacancy
The closing of Q1 demonstrated that 2021's office market is off to a solid start in the Boise MSA, posting 310,000 square feet of positive net absorption. This is the second strongest quarter (second only to Q4 2020) in the past five years.
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