As the construction of the 11th & Idaho office building quickly progresses, anticipation abounds as the project is slated to welcome office tenants by year's end.

Although retail vacancy has seen a slight up-tick since Idaho’s economic shutdown, Total Vacancy (8.4%) in the Boise MSA is still lower than it was this time last year and Unanchored Vacancy (7.23%) is just slightly above the 20-year record low of 6.2% reached this March.

The past month brought a glimmer of hope for Idaho retailers moving forward.  May 1^st marked the beginning of Idaho’s Stage 1 of reopening, with many non-essential retailers being allowed to open their doors for the first time in over a month. Stage 2 of reopening began May 16^th – allowing for another wave of business owners to open –including dine-in restaurants, salons, and fitness centers.  Stage 3 began last week, on May 30^th, as most remaining retailers – such as bars and movie theaters – were able to open their doors.  Although shopping, entertainment, and services may look different as retailers must still adhere to business protocols – the buzz of excitement is in the air. 

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.   

The Idaho Falls’ retail market had a tough start to 2019 with three big box stores closing including Shopko, Sears, and Toys-R-Us. However the year ended on a high note with two out of three of these stores backfilling.