What are current retail commercial activity trends in the Boise Valley?
Retail commercial activity has remained strong. The total number of transactions are up by 22 percent from the first quarter of 2022. With strong leasing activity, the overall vacancy rate for retail space is at a record low of 5 percent.
What are current retail vacancy rates looking like?
Retail vacancy is below 6 percent in 13 of the 18 submarkets across the Boise Valley. Vacancy has decreased 5 percent since Q2 2022. Retail vacancy is also down compared with year-over-year metrics.
What is the average retail lease rate?
The average retail lease rate is above $18.00/SF in all submarkets. These have increased 19% in North Meridian from Q1 2022.
What are retail net absorptions trends?
Retail net absorption is positive in 11 of the 16 Boise Valley submarkets. The strongest absorption rates are currently in the Caldwell Boulevard submarket with 121,100 SF of retail space absorbed.
For more information on the current state of the retail market, you can read our current quarter's Retail Market Report or subscribe to receive quarterly updates.