Copper Alibi Sport Zone leased 3,130 square feet of retail space in Campus Commons Center, located at 677 Filer Avenue in Twin Falls. Dan Wilhelm and Grayson Stone of TOK Commercial facilitated the transaction.
Spikes in sublease space are occurring in metros from New York City to Chicago, Seattle, San Francisco and now, Boise. While retail, flex and industrial sublease space is being delivered to the market, much of the Boise MSA sublease space is located in office properties.
Garcia's Construction, LLC leased 2,000 square feet of industrial space in Graye Canyon Industrial Park, located at 208 Phoenix Lane in Caldwell. Chris Pearson of TOK Commercial represented the landlord.
NSTAR Global Services leased 10,520 square feet of industrial space in Federal Way Commerce Center, located at 527 W. McGregor Court in Boise. Dan Minnaert and Devin Pierce of TOK Commercial represented the tenant.
Alaska Specialty Products, LLC leased 2,090 square feet of industrial space in Taylor Commerce Park, located at 1130 W. Taylor Avenue in Meridian. Dan Minnaert and Devin Pierce of TOK Commercial facilitated the transaction.
Treasure Valley Graphics leased 2,000 square feet of industrial space at 11523 Fairview Ave. in Boise. Dan Minnaert and Devin Pierce of TOK Commercial represented the owner.
The retail industry saw the largest impact from COVID-19, but in the Boise MSA that impact is still only minimal thus far.
Net absorption decreased in Q2 but still ended the quarter in positive territory (131,000 square feet), compared to negative absorption (-320,000 square feet) a year ago.
Even as the stock market posts record-setting gains, TOK Commercial’s most recent data points to impressive gains for both sales and leasing activity in commercial real estate markets across Idaho. While the trends are very encouraging, they also pose nuanced complexities that commercial real estate participants are grappling with.
Despite a worldwide pandemic, the Boise MSA’s office market has thus far experienced a milder impact than expected.
Net absorption ended Q2 at 243,000 square feet, a moderate decrease compared to 12 months ago (290,000 square feet), but still higher than the first half of both 2016 & 2017. Overall vacancy decreased from 5.8 percent at the end of 2019 to a current all-time low of 5.2 percent.
While the past few months have created major setbacks and challenges for most cities' economies, Idaho Falls has proven to have a recipe for economic stability despite the pandemic.
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