COVID-19's "New Normal" Evaluated
As we continue to see the market rapidly change due to the effects of COVID-19, we are constantly hearing the question, "What is TOK’s outlook on the future of the real estate market in the Boise MSA?"
News
Rent Relief Data Analyzed by TOK's Research Team
TOK's property management portfolio includes nearly 1,000 tenants located across three key Idaho markets (Boise MSA, Magic Valley and Eastern Idaho). Utilizing data from our portfolio, we've been able to gather and analyze the Rent Relief requests that have been submitted to our property managers. The metrics we've collected offer a view to genera
How COVID-19 Will Impact the Future of Office Space: Thoughts from a Tenant-Rep Broker
Author: Laurie Reynoldson, CCIM
I’ve received a number of questions from my office tenant clients recently about how COVID-19 will impact the future of office space.
Retail Construction Continues as an "Essential Business" During COVID-19
Despite the current COVID-19 pandemic, construction in the Treasure Valley has continued as “essential business”.
Industrial Sector's Months of Supply Remains Healthy
Months of supply is strong for the industrial sector with current supply at 6.6 months. All but one submarket are in the healthy range (less than 18 months). For the last two years, industrial months of supply has remained below 8 months. Also of note, total vacancy in the industrial sector remains low at 3.0%, while multitenant vacancy is 8.50%.
The Various Impacts of COVID-19 On Idaho Retailers
In the wake of the COVID-19 pandemic, Idaho retailers are feeling the impact personally. Although Idaho hasn’t enacted a shelter-in-place policy at the time of this post, many cities are starting to mandate social distancing orders which directly impacts restaurants, gyms, retail stores, and more.
In response, retailers are becoming resourceful with many restaurants switching to take-out or delivery, fitness centers adding online fitness videos, and retail stores offering online ordering.
Lumos Optical Leases Space in Brownfield's Building
Lumos Optical leased 1,168 square feet of retail space in Brownfield's Building, located at 122 N. 5th Street in Boise. Holly Chetwood of TOK Commercial facilitated the transaction.
Kendall Center Welcomes New Tenant Property Works
Property Works, LLC leased 1,400 square feet of industrial space in the Kendall Center, located at 5489 Kendall Street in Boise. Chris Pearson and Gavin Phillips of TOK Commercial facilitated the transaction.
Lease Renewed by Wapiti Plumbing
Wapiti Plumbing renewed their 1,040 square feet of industrial space at 2165 Centurion Place in Boise. Chris Pearson of TOK Commercial facilitated the transaction.
Superior Pools Takes Space in Five Mile Plaza
Superior Pools, LLC leased 1,680 square feet of retail space in Five Mile Plaza, located at 10500 Overland Road in Boise. JP Green and John Stevens of TOK Commercial facilitated the transaction.