Over the past 12 months, the market has seen the delivery of more than 4.3 million square feet of new industrial space. This increase in supply has ultimately caused overall vacancy to remain elevated at 8.6 percent. Multitenant vacancy is currently at 23.2 percent, slightly below the record high of almost 24 percent seen at the end of June. Overall months of supply has also increased to 18.7 months, up from 12.6 months at this time last year. 

Developers have created more opportunities to land bigger industrial tenants in the Boise MSA by constructing Class A industrial
projects that will primarily meet the demand for larger industrial users. This timing is ideal, as interest in larger industrial space throughout the valley is beginning to rise. In the last 12 months, spaces larger than 10,000 square feet comprised nearly 30 percent of deals. Additionally, the number of these deals has risen by over 8 percent compared to the same period last year..

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