Blog

Office Building Sold in Caldwell

David Stattner purchased a 5,500 square foot office building located at 1002 Blaine Street in Caldwell.

2018 was a good year for office construction, which experienced an increase of 62,000 more square feet than in 2017. The top 3 projects contributing to this increase were 27,500 SF at 3302 Valencia Dr. (Bingham Memorial Hospital); 22,973 SF at 1460 Elk Creek Dr. (Connections Therapy); and 35,000 SF at 1207 S. 25^th (CAL Ranch).

Creamery Building sold to Foothills School

The Foothills School of Boise (https://www.foothillsschool.org/) purchased the 22,500 square foot former Creamery Building in Downtown Boise last month. The building, located at 9^th & Miller Streets, had been vacant since Sage International School moved out in 2016 to their new location on Parkcenter Blvd.

TruHIT Fitness leased 3,112 square feet of office space in Seneca Springs Office Park, located at 50 Seneca Springs in Star.

BPM Investments, LLC purchased a 10,632 square foot industrial building on 2.04 acres, located at 1854 E. Lanark in Meridian.

Shopko Fairview and Milwaukee Boise Idaho

The overall retail vacancy has oscillated in the mid-7 to mid-8 percentage range for the last 2 years. However, the next two months will witness large back-to-back vacancy increases with the closure of the three Treasure Valley Shopko sites. The 95,000 SF Shopko on Fairview will close this March. In April, the Nampa and Broadway Shopkos are also expected to close, totaling 191,000 SF.

In addition to increasing the vacancy rate, these large vacancies will also dramatically decrease net absorption which is currently -83,000 SF for 2019.