Freedom Forever Idaho, LLC Joins The Gem Center
Freedom Forever Idaho, LLC leased space in the Gem Center, located at 2417 Bank Drive in Boise. Al Marino of TOK Commercial facilitated the transaction for the tenant and landlord.
Gem Center Leases Space To Sunshine International Corporation
Sunshine International Corporation leased office space in the Gem Center, located at 2417 Bank Drive in Boise. Al Marino of TOK Commercial facilitated the transaction for the tenant and landlord.
Scout Distribution, LLC Leases Space In Five Mile Industrial
Scout Distribution, LLC leased 29,312 square feet of industrial space in Five Mile Industrial, located at 700 N. Five Mile Road in Boise. Peter Oliver and Dan Minnaert of TOK Commercial represented the landlord.
Lease Renewal Between Class 101 and Emerald West
Class 101 renewed their 1,200 square feet of office space in Emerald West, located at 8660 W. Emerald Street in Boise. Patrick Shalz of TOK Commercial facilitated the transaction for the tenant and landlord.
Hill-Rom Company, Inc. Renews Lease In Bethel Court Distribution
Hill-Rom Company, Inc. renewed their 3,410 square feet of industrial space in Bethel Court Distribution, located at 9530 W. Bethel Court in Boise. Devin Pierce and Dan Minnaert of TOK Commercial represented the landlord.
Idaho Falls First Grocery Outlet Celebrated in NYC
TOK Commercial is pleased to announce that its commercial real estate brokerage team facilitated the site selection for the first Idaho Falls Grocery Outlet Bargain Market store, located at 2455 East 25th Street. The new store, optimally positioned in the market’s high traffic retail corridor, was celebrated in both Idaho Falls and New York City, where digital signage at Times Square heralded the event.
July 2022 | Idaho Retail Commercial Real Estate Vacancies Drop to Record Lows
The Big Picture: Retail space across all Idaho markets remains limited as vacancy dropped to record lows in June. In the Boise MSA, total vacancy hit a 23-year low of 5 percent. In addition, unanchored vacancy has stayed below 5.5 percent throughout 2022. In Eastern Idaho, total vacancy has been declining throughout the year and is currently at a historic low 4.7 percent. The Magic Valley has seen the lowest vacancy rates of all markets at 3.9 percent, while unanchored vacancy is even lower at 2.9 percent.
Sublease Space Increases Locally and Nationally
The amount of sublease space on the market has been increasing since the beginning of the pandemic, both locally and nationally. Many companies, such as call centers, transitioned their staff to work from home setups and some have decided not to return to the office. In many cases, those choosing not to return are national tenants whose policy across the nation is to remain in work from home situations.
Pre-COVID, the amount of sublease space on the market in the Boise MSA was 137,000 square feet. Currently, there is 417,000 square feet of sublease space on the market, down slightly from the peak of 466,000 square feet. Downtown Boise and Meridian comprise over 50 percent of the total on the market.
Better Built Barns, Inc. Purchases Land In Mountain Home
Better Built Barns, Inc. purchased 5.18 acres in Mountain Home. Lenny Nelson and Sam McCaskill of TOK Commercial facilitated the transaction for the buyer and seller.
SonoBello Joins The Blackstone Building
SonoBello leased 14,482 square feet of office space in the Blackstone Building, located at 1820 S. Silverstone Way in Meridian. Laurie Reynoldson of TOK Commercial facilitated the transaction.