Boise area office market shows slight uptick in February

Two good things happened in the Boise area office space market in February: Vacancy decreased slightly, and lease rates picked up a bit.

This is according to new numbers from Boise-based Thornton Oliver Keller Commercial Real Estate, which notes in a report that although the average price increase was only small (up from $13.40 to $13.50 per square foot from last year), “it could be an indicator that rents are bottoming out.”

The vacancy statistics look like more of a plateau than a turnaround, too. Since October 2009, office vacancy rates in the area have hovered between 15.6 and 15.75 percent after a steady rise from 14 percent in June 2009.

Vacancy in Meridian, which is still higher than average at 20.9 percent, has been steadily declining and is now at its lowest level since late 2008. Nampa’s office vacancy has been declining as well, though the central Boise submarket is on the rise, now with over three years of projected supply.

Industrial space around the area is at its lowest vacancy level since March 2009, now at 11.3 percent. The drop (from 11.7 percent) can be largely attributed to Best Bath’s purchase of a 100,000-square-foot building in Caldwell and Scentsy’s lease of 48,000 square feet in west Boise.

Retail vacancy rose from 13.7 to 13.9 percent in February, due in large part to the closure of a 29,000-square-foot Rite Aid in west Boise.

According to Thornton Oliver Keller, activity is up in all sectors of the leasing market.

NEW! Online only subscription. 24/7 access to premium online subscriber content for only $79.00 a year!
CLICK HERE TO SIGN UP TODAY!

21 Responses to “Boise area office market shows slight uptick in February”

1. Storing my Gas Grill? | Gas Grill Cover Says:
   March 12th, 2010 at 3:33 pm

   [...] Idaho Business Review » Blog Archive » Boise area office market … [...]

2. Idaho Business Review » Blog Archive » Boise area office market … Contact Says:
   March 12th, 2010 at 6:50 pm

   [...] the original: Idaho Business Review » Blog Archive » Boise area office market … Microsoft Office Professional Plus 2010 RTM(x86/x64) – GFXnew -Yor …15 Funny Office [...]

3. My Dog Travel Tips » Blog Archive » Dog Stop Eating Poop Says:
   March 12th, 2010 at 7:20 pm

   [...] Idaho Business Review » Blog Archive » Boise area office market … [...]

4. How to Organize an Easter Egg Hunt | The Easter Egg Hunt Says:
   March 12th, 2010 at 8:19 pm

   [...] Idaho Business Review » Blog Archive » Boise area office market … [...]

5. Exercise For Women Targeting The Fat Around The Inner Thigh Area | Weight Loss Secrets Says:
   March 13th, 2010 at 1:54 am

   [...] Idaho Business Review » Blog Archive » Boise area office market … [...]

6. Eyevive – Tackling The Dark Circles. | Health and Fitness Says:
   March 13th, 2010 at 2:39 am

   [...] Idaho Business Review » Blog Archive » Boise area office market … [...]

7. Where can i by electronics wholesale in chicago or milwaukee area? | Chicago Wholesale Says:
   March 13th, 2010 at 4:09 am

   [...] Idaho Business Review » Blog Archive » Boise area office market … [...]

8. bolin guitars boise | Sevenz Guitars And Accessories Says:
   March 13th, 2010 at 4:51 am

   [...] Idaho Business Review » Blog Archive » Boise area office market … [...]

9. Assist To Sell Says:
   March 14th, 2010 at 2:50 am

   [...] Idaho Business Review » Blog Archive » Boise area office market shows slight uptick in F… [...]

10. nampa real estate Says:
    March 27th, 2010 at 8:24 pm

    [...] Broker Associates describes how the Boise real estate market is being affected by high gas costs.Idaho Business Review Blog Archive Boise area office …Tags: Commercial Real Estate, Thornton Oliver Keller. Two good things happened in the Boise area [...]

11. Best Price Says:
    June 4th, 2010 at 4:59 pm

    A wonderful day to lose weight…

    I saw this really good shop today. Check it out….

12. AlexanderDorthy18 Says:
    June 19th, 2010 at 2:59 am

    Cars and houses are expensive and not every person is able to buy it. But, mortgage loans are created to support different people in such hard situations.

13. loan rates Says:
    October 4th, 2010 at 1:24 am

    Thank you……

    I absolutely agree. That is exactly how I understand it. Great!…

14. Property Solicitors Says:
    April 2nd, 2011 at 9:23 pm

    Property Solicitor …

    [...]the time to read or visit the content or sites we have linked to below the[...]…

15. Conveyancing Solicitor Says:
    April 3rd, 2011 at 8:51 am

    Property Solicitor …

    [...]just below, are some totally unrelated sites to ours, however, they are definitely worth checking out[...]…

16. Property Solicitors Says:
    April 10th, 2011 at 8:25 am

    Conveyancing Solicitors …

    [...]while the sites we link to below are completely unrelated to ours, we think they are worth a read, so have a look[...]…

17. property & casualty license Says:
    June 13th, 2011 at 4:11 am

    The best website……

    [...]here are some links to sites that we link to because we think they are worth visiting[...]……

18. Best Diet Plan Says:
    June 14th, 2011 at 1:20 pm

    Recommeneded websites…

    [...]Here are some of the sites we recommend for our visitors[...]……

19. Credit Card Consolidation Loans Says:
    June 15th, 2011 at 12:50 am

    Sites we Like……

    [...] Every once in a while we choose blogs that we read. Listed below are the latest sites that we choose [...]……

20. http://www.infonexus.org/articles/73943/1/The-Cleaner-Greener-Fuel-Alternatives Says:
    June 15th, 2011 at 8:17 am

    Awesome website…

    [...]the time to read or visit the content or sites we have linked to below the[...]……

21. Acne No More Says:
    June 15th, 2011 at 9:11 am

    Recommeneded websites…

    [...]Here are some of the sites we recommend for our visitors[...]……