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.
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.
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.
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. purchased 5.18 acres in Mountain Home. Lenny Nelson and Sam McCaskill of TOK Commercial facilitated the transaction for the buyer and seller.
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.
2C Yoga leased 1,348 square feet of retail space located at 901 Main Street in Caldwell. Brianna Miller of TOK Commercial represented the landlord.
Tipsico Coin, LLC leased office space in Lakeharbor, located at 3050-3250 N. Lakeharbor Lane in Boise. Al Marino of TOK Commercial facilitated the transaction for the tenant and landlord.
Pure Massage leased office space in Lakeharbor, located at 3050-3250 N. Lakeharbor Lane in Boise. Al Marino of TOK Commercial facilitated the transaction for the tenant and landlord.
Stuffed!, LLC leased office space in Lakeharbor, located at 3050-3250 N. Lakeharbor Lane in Boise. Al Marino of TOK Commercial facilitated the transaction for the tenant and landlord.
Boise Office
250 S 5th Street, 2nd Floor
Boise, Idaho 83702
Main Phone: 208.378.4600
Nampa Office
16150 N. High Desert Street, Suite 200
Nampa, Idaho 83687
Main Phone: 208.378.4600
Twin Falls Office
195 River Vista Place, Suite 204
Twin Falls, Idaho 83301
Main Phone: 208.944.9694
Idaho Falls Office
1135 Pier View Drive, Suite 120
Idaho Falls, Idaho 83402
Main Phone: 208.227.8148
Coeur d'Alene Office
3322 N. Grand Mill Lane
Coeur d'Alene, Idaho 83814
Main Phone: 208.449.1908