- Boise Outperforms U.S.
The Boise market outpaced the U.S. market in population growth, household income, and unemployment. The retail market remains on an upward trajectory based on key indicators.
- Supply & Demand
Low levels of speculative construction and strong demand will likely contribute to lower vacancy and higher rents for the remainder of 2023. Demand has outpaced supply by 30.0% over the previous 15 months.
- Pads Anyone?
Build-to-suit construction pad rents are reaching $45.00 per-square-foot (psf).
- Strong Population Growth & Low Unemployment
Boise was ranked No. 3 in annual population growth nationwide at 2.2% and is projected to increase further, while its economy expanded at a rate of 3.4% YOY.
- Strong Leasing Activity
The Boise retail market exhibited strong demand in Q2 2023, with nearly 200,000 square feet of direct leasing activity QOQ and nearly 600,000 YOY.