Bennett Industries, Inc. purchased a 39,380 square foot industrial building in the South Cole Business Park, located at 7418 W. Mossy Cup in Boise. Gavin Phillips of TOK Commercial facilitated the transaction.
Even with our current economic state, the Boise industrial market remains strong with total number of deals up nearly 5% over the past 12 months.
The North submarket leads the way in industrial activity while Meridian has the highest gross absorption at 178,600 SF. This number is mostly attributed to Gensco occupying their new 68,000 SF space on Lanark.
Overall industrial vacancy has also remained stable at 3.5%, with multitenant vacancy currently at 7.0%.
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%.
Autovol, an automated volumetric modular manufacturing factory, has completed their new 410,000 square foot facility off Star Road in Nampa. The company will focus on using automated modular construction to build affordable housing units.
The Idaho Statesman has highlighted big changes to look out for in the Treasure Valley in the year 2020.
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