It was another banner year for retail development with 303,500 square feet of new construction, up slightly from 2022. The biggest project delivered was D&B Supply’s new store in Caldwell, while the rest of the construction was attributed to multiple single tenant and strip center projects under 15,000 square feet. Multiple grocery anchors have been developed over the past four years, including Winco and Costco in North Meridian.
Pad development has been high around these centers resulting in strong speculative development for the valley. Of the new construction completed in 2023, nearly 102,000 square feet were spec, up 17 percent from 2022. Pad activity will likely continue to fuel development, especially in the Ten Mile Crossing area where Scheel’s new 240,000-square-foot store is set to deliver this spring.
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