Compare "New to Market" Tenant Impacts on CRE
Boise MSA
Many of the largest office transactions during Q2 2021 involved companies that are new to the Boise MSA. Kiln, a co-working company with offices in Utah and Colorado, leased nearly 50,000 SF of newly constructed space in the Eagle View Landing project near Eagle Road and I-84. US Investment Corp and AMS Sensors, both of which are new to the market, leased 13,100 and 10,900 SF respectively at the 11th & Idaho building in Downtown Boise. The largest new industrial users to nab limited available industrial space included Azek Company which took 347,000 SF, 84 Lumber securing 32,700 SF, and Arizona Tile which leased 19,200 SF. New retailers entering the Boise MSA market included HomeGoods lease of 18,500 SF, Land Ocean New American Grill which will open in its new 7,300 SF, and Door Dash Essentials operating from a 7,100 SF storefront. The impact of the combined leasing activity for NTM tenants across all property sectors resulted in 796,000 SF of leased space in Boise MSA.
Magic Valley
The Magic Valley added several NTM tenants who leased a total of 62,000 SF of space across all property types. The industrial market added Highland Gardens (15,000 SF) and Tribal Fire Systems (6,900 SF). New retail establishments included Texas Roadhouse (6,000 SF) and Bullfrog Spa (9,100 SF). The Magic Valley's office market also welcomed Winona Pharmacy which opened for business in 5,400 SF.
Eastern Idaho
Eastern Idaho's business community has grown significantly and properties in the office, industrial and retail sectors have benefitted from activity generated by NTM tenants. The Eastern Idaho market posted 74,000 SF (total, across property sectors) which was leased by NTM tenants. Notable new industrial companies which have opened for business in Eastern Idaho include Classic Tile & Flooring (12,000 SF) and Preferred Pum (12,000 SF). New restaurants with significant footprints, Rib & Chop House (5,100 SF) and Wingstop (4,000 SF) both secured retail space in the market. EMI Health (4,200 SF) and NN Inc (3,700 SF) were two of the largest NTM office tenants to launch in Eastern Idaho.
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