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Berkshire Retail Center Sells

The Goldman Trust purchased the fully occupied Berkshire Retail Center, located at 172 E. Maine Avenue in Nampa off 12th Avenue South.

On April 16^th -18th, Holly Chetwood, a member of our retail brokerage team attended the ICSC “Food For Thought” conference in New Orleans, LA.

The conference focused on the evolution of retail real estate and its impact on food and dining. Holly was able to connect with national thought leaders and industry experts in discussions centered on emerging concepts and trends in this retail sector.

Venue Event Service renewed their 1,440 square feet of industrial space in the Eagle Industrial Center, located at 1762 E. State Street in Eagle.

Aviation Way and Skyway Street Caldwell Idaho

An investor purchased 2.813 acres of industrial land at the corner of Aviation Way and Skyway Street in Caldwell.

The Magic Valley is becoming a hot spot for food processing technology, as more and more food companies expand in the area. According to the Idaho Business Review, Gem State Dairy Products is building a 200,000 square foot asceptic milk plant in Twin Falls, which is set to be completed in 2020. The plant is expected to be three times the size of an average fluid milk plant.

Sound in Motion leased retail space in the Family Center at Federal Way, located at 3629 Federal Way in Boise.

At the close of Q1, unanchored retail vacancy dropped below total vacancy for the first time on record. Unanchored vacancy has been on a downward trend for the last 2 years and is currently the lowest level since 2002.

Total retail vacancy saw an increase in March after the closure of Shopko (95,400 SF) on Fairview Avenue in Boise. Total vacancy is expected to increase even higher over the next couple of months with the closure of the last two remaining Shopko stores – on Boise's Broadway Ave. and in Nampa.